RAILROADS: A Victory for the C. & O.

The biggest single block of stock (an estimated 25%) in the Baltimore & Ohio Railroad is held in Swiss bank accounts. In the fight between the New York Central and the Chesapeake & Ohio railroads to gain control of the B. & O. (TIME, July11), the Swiss-held shares may prove to be the decisive block. Last week the three big Swiss banks that hold the stock advised the owners, in a confidential memo, to accept the merger offer of the C. & O. Merger of the C. & O. and the B. & O., said the memo, would "present...

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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