Business & Finance: Railway Express

Among new financings of last week was an offering of $32,000,000 in bonds of Railway Express Agency, Inc. Such famed houses as J. P. Morgan & Co., Kuhn, Loeb & Co., First National Bank and National City Co. underwrote the issue. On March 1, subject to the approval of the Interstate Commerce Commission, the new organization will take over virtually the entire expressing business of the U. S. The bond issue culminates two years of effort on the part of U. S. railroad executives, particularly of William Benson Storey, president of the Santa...

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