Evening star., 1924-08-29
$1,000. 600. 600 RAILROAD MERGER
OF VAN SWERINGENS COMPLETED
Pere Marquette Board In.
dOrses Consolidation
With Four Lines.
10000 Miles in Group to
Be KnOtUr, as Nickel
Plate System.
BY the A Associated Press.

BY the Associated Press.
NEW YORK, August 29.-An Of
fetal statement giving all the terms
and details of the proposed $1,000
900 merging of the Nickel Plate
system with four other railroads into
one large system is expected to be
issued today on behalf of o. p. and
NJ. J. Van Sweringen of Cleveland,
who engineered the merger.
1t will be the second major con-
Snlidation under the transportation
act in 1920. The issuance of this
statement, it was pointed out, was
made possible by the action taken by
directors of the Pere Marquette Rail-
way in approving the terms of the
merger at special meeting yester-
day.
The Pere Marquette is the last of
the five railroads included in the COM
bination to take official action on the
proposed consolidation. In addition
to the Nickel Plate, the consolidated
system will include the Erie Railroad,
the Chesapeake and Ohio. the Hook
ing Valley and the Pere Marquette.
Terms Generally known.
The statement expected to be is
sued on behalf OF the Van Swerin-
gems today, it is understood, will vary
little, so far as terms are concerned,
from the semi official statement is
sued through j. Il. Morgan n Co.
a few weeks ago. The latter revealed
the amount of new stock the holders
OF the respective roads included in the
merger would receive in exchange for
their shares. 1t was stated yesterday
that the machinery would be set in
motion within the next few days to
get the approval of the stockholders
and the Interstate Commerce Commits
sion for the merger, which is volun-
tary on the part Of the respective
systems.
The meeting of the directors of the
1'ere Marquette Railway Company
Yesterday lasted about one hour. Nir-
tually every director attended, and
it was said there was not a single dis
senting vote on the terms offered by
The Van SweringenS
Makes Is.OOO- Mile system.
The action of the Pere Marquette
directors closely follows similar ac-
ton by the Erie and provides for
system with total trackage. in
Guiding Sidings, of $1,000 miles.
Through the Pere Marquette, the
greater system Will extend 337 miles
into Canada.
Last year the Van Sweringens con-
solidated the Nickel Plate, Toledo, st.
Louis and Western (Clover Ieafl and
i>dh ana " eSttTn, shortly aft
erWard acquiring control of the
Chesapeake and Ohio and its subsi-
diary, the Hooking Valley.
This new system has the shortest
route between Buffalo and Chicago.
South of Lake Erie, and thrusts it's
lateraiS into such productive terri
tory as Ohio. Indiana. Michigan. Ken
lucky and West Virginia.
II also touches New York. Newport
News, Norfolk. Richmond, Charleston.
w. Va. Louisville, Ky: Chicago. Peo-
ria, Ill; st. Louis, Detroit, Cleveland
Bunalo, Rochester. Eric. Youngs-
town, Akron, Cincinnati. Toledo, San
dusky. Dayton. Indianapolis. Fort
Wayne, Ind, and other important
points.
Penetrntes Rich Area.
The consolidated lines traverse
highly developed inland industrial
territory. bituminouS mining sections
and connects at its western gafeways
with so important railways. Through
these gateWayS come a great bulk of
flour, grain, lumber. cattle hogs
dressed meats and other comnlodi-
ties.
Associates of the Van Swerincens
forecast plans of conservative capi-
talization through the unified con-
troll and operation of the lines merC-
cd. They point out that the capitaIi-
Zation in their previous consolidated