Show RAIL ii PROGRAM I GETS APPROVAL 9 SAN FRANCISCO Oct 28 21 P P Federal Judge Judge- A. A F F. St St. Sure approved approved approved ap ap- ap- ap proved the petition today of the Western Pacific Railroad company to spend around in extensive extensive extensive ex ex- ex- ex road and equipment improvements im im- ti The plan included sale of oo 4 per cent bonds due December id 1 l 1938 Of this amount i would be bG used to retire outstanding i term short-term obligations and I to cover part of the tho expenditures ip in a program of improve improve- ci went merit I d In addition some will willI willbe I be spent for new freight cars and af it locomotives The company has about 20 per cent of the proposed rolling stock funds on hand and will negotiate with equipment producers d for credit on n the remainder to be retired over a period of years It has already on hand some worth of materials purchased for the Improvement program and Ib of further funds on hand for this outlay This fund of was considerably larger arger tha than than n i e earlier estimates had Indicated as 83 asis 1 is improving business brought better operating income |