AMERICAN RAILWAYS
ABSORPTION OF ERIE SYSTEM.
(UNITED PRESS- ASSOCIATION.—COPYRIGHT.)
YuSTRAUAN-NEW ZEALAND CABLE ASSOCIATION.) (Received 27th. August,. 9,a.m.) -.
, NEW, YOHK; 26fch August. The-directors of the" Erie Railroad have approved an offer made by the Van Sweringer interests to consolidate the road -with four . others" into their proposed 1600 million dollars nickelplate system. This will • virtually complete the unification of almost 14,000 miles of railway in the eastern section. The terms broadly .provide that holders of Erie first and eecond preferred shares will receive 50: per cent", of "their , hold-' ings in preferred; stock in the new, company, and common holders will Teceive 40 per cent. in_the. new common issue.
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Bibliographic details
Evening Post, Volume CVIII, Issue 50, 27 August 1924, Page 5
Word Count
108AMERICAN RAILWAYS Evening Post, Volume CVIII, Issue 50, 27 August 1924, Page 5
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