The long-drawn-out debate about the immediate future of the Chicago, Milwaukee & St. Paul R. R. (TIME, Mar. 23) came to a quick and decisive end last week when the line was suddenly placed in a receivership.
The immediate cause of the failure was the road's inability to meet some $48,000,000 of its 4% bonds due June 1 this year. All winter, conferences have been held, but the road's bankers, led by Jerome J. Hanauer of Kuhn, Loeb & Co. and President Charles E. Mitchell of the...
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