Show American Locomotive R. R R. R Steel Spring Merge NEW YORK TORK March 11 AP AP hors tors of the American Locomotive corn com pony pany and the Railway Steel Spring com tj pany today agreed on a basis of ex- ex change of in connection with a merger of the two companies by which two shares of American Locomotive Common n will wl be given for e snares shares 3 of Railway Hallway Steel Spring NEW YORK TORE March II AP AP-A AP A merger mer- mer ger of the 5 AmerIcan Locomotive and Hallway ro nS Steel I SprIng companIes bring bring- log together r two f leading railroad equipment equip equip- ment manufacturers with combined assets as- as sets of approxImately was approved n by the of t both corn com panic today The Kr 1 consolidation It approved ap- ap proved f V. by the st will bo be effected ef- ef by Tin an of two shares of AmerIcan common ih three stock for share hl of Railway Steel spring and a aue for o share hare ue exchange of preferred The combination wilt will place under the theof active direction of WIlliam 31 WOOdi a group of equipment rS companies with total Sir x Nr reSources of almost can S Car Woodin and who nho ls Is bead of the Foundry company will ad- ad t vance board d of from f the president enlarged nt to chairman of the K American r company m Frederick F. F FItzpatrIck head of She Railway US ine Steel Spring corn com Pay pany will wIll succeed him as president The M POssibility ty of a further consolida y ti embracing the American Car and Foundry nn company ls Is being discussed in n Wall Wail street nol although the latter so far has tiong not fl figured ur J in any of the Consolidation U 15 expected P ea to develop a an w Well rounded rn 51 or organization which will be unaffected n ff by the sharp variations In locomotive buying which occasionally dIsturb the h. h S the t stability Of f this Industry Industry In past tw the demand yearKS from the railroads 8 Isas been unusually resulting in curtailed earnings for mo most of American Ami the i locomotive manufacturers The Locomotive company last year and reported he the output in Its history history Thi The ended diversification with tt a of deficIt products ot of 8 made possible by byi byth th the merger is counted on to i offset possible slumps in the locomotive end of the business SUGAR FUTURES NEW Si YORK TORK Mar Starch h 11 Sugar Sugar futures future M closed easy Approximate sales tons March Stay May July September December 2706 |