Business & Finance: N. Y. C. Merger

N.Y.C. Merger

Termed dilatory by President Coolidge (see p. 9), the Interstate Commerce Commission last week roused itself, took action, decided that the New York Central R. R. might legally acquire the Cleveland. Cincinnati, Chicago & St. Louis and the Michigan Central railroads, and subsidiary lines of the two. Merger permission was conditional upon purchase by the New York Central of six short-line roads in the affected area.

The decision was welcomed by the New York Central. It marked the Commis sion's first favorable decision on a question concerning vital railroad consolidation. Both the Cleveland,...

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