Railway Owners Accept Contract Under Protest
The financial committee of the National Association of Owners of Railroad Securities voted today to accept, under protest, the federal railroad administration contract for operation of lines under federal control. The decision followed a New York meeting amid ongoing dispute over terms and conditions.
MENTIONED IN THIS ARTICLE
New York
National Association of Owners of Railroad Securities
Federal Railroad Administration
Aot A
Provisiona and as a consequence resolution adopted
Provisiona and as a consequence resolution was adopted to prevent disturbance of credit or government plans arising from legal differences. Special committees are asked to propose fines for cooperation in securing adjudication, while contracts may be executed by other carriers. If the decision is adverse to security holders, the controversy ends. if adverse to government, contracts must be amended to conform.
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