When O. P. Van Sweringen took the stand last week in the Nickel Plate case before the Interstate Commerce Commission, some interesting facts concerning the past history of that merger came out. Much attention was paid to his assertions relating to his and his brother's profits, which have amounted to $16,812,809 so far.
The Van Sweringen brothers entered the steam railroad business in 1916 by purchasing the old "Nickel Plate" (New York, Chicago & St. Louis R. R.) from the New York Central for $2,000,000 cash and $6,500,000 credit. Despite old Nickel Plate's official...
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