Business: St. Paul

Except for formal ratification, Kuhn, Loeb & Co. and the National City Co. of Manhattan, who represent the reorganization committee of bondholders, own the onetime Chicago, Milwaukee & St. Paul Railroad, a system estimated at $750,000,000. They bought it at an auction sale in Butte, Mont., last week for $140,000,000 and their promise to untangle the road's debts, no light task. For the pres-ent there will be no change among the operating executives. But the system's name has been altered to the Chicago, Milwaukee & Pacific Railroad, with "The Milwaukee" as the nickname...

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