Because railroads can go no further than their terminals, railroads and trucking are inextricably linked. Yet recently the Interstate Commerce Commission ordered the railroads to cease trucking deliveries in Manhattan. Last week Cleveland's smart Brothers Van Sweringen, Oris Paxton and Mantis James, finished a smart deal that will bring them double benefits, one of which is circumvention of the I. C. C.'s trucking order.
First step in last week's deal was segregation of the Van Sweringen-controlled Erie Railroad's coal properties to a new holding corporation, Pittston Co. Stock in the Pittston Co. will soon be offered to Erie stockholders, thus placing its...
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