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Railroad Merger Battle Gets Rough in West
AP reports Chicago and North Western moves to block Union Pacific and Southern Pacific control of Chicago Rock Island and Pacific. C N W led by Ben W Heineman offers stock plus cash and a share of CNW to Rock Island holders, arguing consolidation could save over 25 million annually. CNW seeks ICC control via stock ownership and studies a three-way linkup with Milwaukee Road. Chicago headquarters for Rock Island and CNW anchor the bid amid a high-stakes contest among major railroads.
MENTIONED IN THIS ARTICLE
New York
Chicago & North Western Railway
C&nw
Ben W. Heineman
Chicago
Union Pacific
Southern Pacific
Chicago, Rock Island and
Rock Island
Heineman
New York Stock Exchange
North Western Board
Interstate Commerce Commission
Chicago, Milwaukee St. Paul and Pacific Railroad
North Western
Milwaukee Road
North Western Common
Midwest
Kansas City