Business & Finance: Fifth System

The prospective merging of railroad systems from Chicago to the Atlantic seaboard was already a complicated affair last winter. But it had apparently simmered down to the question as to just which small roads should be swallowed up by the four big systems—N. Y. Central, Pennsylvania, Nickel Plate, Baltimore & Ohio. The little roads have seemingly got rather tired of being taken as canaries for somebody's else cats. Accordingly, President Loree of the Delaware & Hudson announced plans, a few weeks ago, for a fifth Eastern system to include most of the small...

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