RAIL STOCK ADVANCES.
ANNOUNCEMENT BY HOOVER,
CONSOLIDATION AGREEMENT,
(Received 11 a.m.)
VANCOUVER, December 30,
New York rail stock rushed up two to eight dollars (approximately £1 13/4) a share. The entire market was stimulated on Tuesday, the leading industrial and utility lines gaining two to five dollars. This was subsequent to an announcement by Mr. Hoover in Washington, that the eastern railroads had agreed upon consolidation into four independent systems. Thee railroads concerned are:, Pennsylvania,- New York Central, Baltimore, Ohio, of the nickelplate system. The Wabash system provided for under Interstate commerce commission's plan, would be abandoned.
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Auckland Star, Volume LXI, Issue 309, 31 December 1930, Page 4
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97RAIL STOCK ADVANCES. Auckland Star, Volume LXI, Issue 309, 31 December 1930, Page 4
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