| Show Bond Price Fluctuation Dominates N. N Y Market NEW V YORK July 29 UP UPi Wide price fluctuations in issues issue of Denver Den Den- ver var Rio Grande Western Wester railroad railroad rail rail- ri- ri road dominated trade in an otherwise otherwise other other- oter We wise narrowly improved bond market Monday Rio Grande 55 and assented of 55 dropped 4 4 to 5 points point as the session entered the final hour Denver Rio Grande 45 of 36 I jumped around 8 and D R G W 55 of 78 added about 6 6 Execution of a supreme court- court approved reorganization plan for forthe forthe forthe the Rio Grande was stayed by the court until Aug 1 Terms of the plan which apparently would go into effect if the present reorganization reorganization bill bi passes pases congress provide provide provide pro pro- vide that holders of ot the 55 of 55 would receive only common stock in the reorganized carrier and arid would not participate in the funded debt The pending reorganization bill bl has has' been approved by a house- house senate committee and is expected t to go to to toa a vote vot in the very near f future turc V WASHINGTON ASHINGTON July 29 UP R- R Rep Reed R. R Ill Il said he Interpret interprets interprets inter Inter- pret a senate house senate houe-senate conferee compromIse com compromise corn com promise on railroad reorganization legislation as excluding the Denver Denver Den Den- ver vcr Rio Grande Grands Western from I the bUs bU's bills bill's provisions The carrier carier is not named specifically specifically in the conference report which still sti must mut be acted on by both bath oth houses But Reed told a re reporter reporter reporter re- re porter that as M I interpret paragraph paragraph para para- paragraph para para- graph No 6 6 of section 2 2 the Denver Denver Denver Den Den- ver Rio Grande would be out The Te paragraph referred to t by Reed states state that the te provisions of the section shall not apply If I at atthe atthe the te time of filing the petition petton for reorganization under section 77 7 of ot the bankruptcy act act more t than n 96 per pcr cent of ot t the outstanding voting stock of the te debtor railroad corporation shall have been owed owned or controlled directly or Indi Indirectly Indirect ly by voting trust or otherwise by another anoter railroad corporation not not a debtor in the same proceeding proceed proceed- ing and or by a a corporation owing owning or controlling more than tha 95 per cent of the te outstanding voting vot vot- ing stock stok of another railroad cor cor |
