Business: Railroads & Bankers

The Interstate Commerce Commission last week approved the Baltimore & Ohio R. R.'s issuing $63,242,500 of new common stock. Kuhn, Loeb & Co., the company's bankers, with Speyer & Co. and the National City Co. underwrote the issue, receiving $1,422,956 for their work; 90% of the stock was subscribed for as soon as the books were opened. Union Pacific R. R., large holder of older B. & 0. stock, bought a large block of the new.

Although I. C. C. Commissioner Joseph B. Eastman approved the B. & O. stock issue, he struck at...

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