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Merger plans were ordered drafted last week by the directors of two other big railroads: the Chicago & North Western Railway and the Chicago, Milwaukee, St. Paul & Pacific. If merged, the two lines would serve 15 states, create the second longest U.S. railroad, with 21,325 miles of track, and save an estimated $40 million in joint operating economies. But a group of Milwaukee Road directors led by Executive Committee Chairman J. Patrick Lannan oppose the terms of the proposed stock swap as too little for Milwaukee Road stockholders. They would get one new share for each owned, while C. & N.W. holders would get 1¼ to 1½ shares for each owned. The five dissident directors have been buying up Milwaukee Road stock, now have 250,000 shares of the 2,123,000 outstanding, and threaten a proxy fight if the deal as proposed goes through.