OCR Text |
Show Merger of North Lines Operative New York The plan for the unification unifica-tion of the northern railroads has been declared operative by the deposit de-posit committee, It was announced here. The committee also has approved ap-proved the making of application to the interstate commerce commission for its approval of the acquisition of control by the Northern Pacific Railway Rail-way company, a new Delaware corporation, cor-poration, of the two northern compan-ise compan-ise and the Spokane, Portland and Seattle. Se-attle. The plan as announced provides pro-vides for the acquisition of the stock of the Great Northern and Northern Pacific by exchanging stock in the new company on a share for Ehare basis. .The new company al30 will take over leases of the Spokane, Portland Port-land and Seattle and roads controlled by the two northern companies. Deposits De-posits of 70 per cent of the oustand-ing oustand-ing stock of the northern companies have been vy.de under the unification plan, the committee announced. |