The Interstate Commerce Commission, in its annual report last week, shook a warning finger at non-carrier holding corporations which gain control of two or more competing railroad systems. Congress was asked to make a "thorough investigation" of this latest corporate custom by which the I. C. C. feared its plan for rail consolidations "is very likely to be partially or even wholly defeated." The Commission admitted that for such a new threat it could not find an appropriate remedy.
Cited by the Commission were two such holding companies: Alleghany Corp. controlled by the Van...
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