New Hope in MOP

To millions of U.S. security holders in receivership railroads last week came important news: a new and comforting reorganization plan for giant Missouri Pacific Railroad (in bankruptcy since 1933) will soon be announced. When & if the new plan goes through, it may start a chain of revisions in other reorganization schemes, give an unexpected break to their stock and bondholders.

Worked out as a compromise between the claims of the senior bondholders and the loud squawks of the junior holders, the new MOP plan is a thorough rehash of the ICC plan...

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