Business: Application Denied

It was 3:30 p. m. The New York Stock Exchange was closed for the day. It was a free hour and the members of the Interstate Commerce Commission (in Washington) felt that they could do what they would do with a clean conscience. They gave to the press and to the world their decision (agreed to by a 6 to 1 vote, several members not voting) on the proposed Nickel Plate merger.

The decision was the product of many months and some half a million dollars' worth of hearings, not to...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!