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Show NEW YORK CENTRAL INQUIRY THIS WEEK Washington. July 27. Expert examiners ex-aminers and investigators of the interstate in-terstate commerce commission will go over the books of the New York Central Cen-tral Railway company this week In an investigation to determine whether that company can issue $157,000,000 ot securities for refunding bonds and to take over the stock of the Lake-Shore Lake-Shore & Michigan Central railroads. The investigation was ordered by the United States senate which has raised rpiestlons whether the New York Central will not be overcapitalizing overcapital-izing through the issue of this immense im-mense block of new securities and Whether it can legally under anti-monopoly anti-monopoly laws take over the Lake Shore & Michigan Southern nnd the Michigan Central railroad properties The Investigators are to report what part of $lo",000,000 4 per cent bonds I proposed to be issued is to be used in funding outstanding 8 1-2 per cent J bonds of the New York Central and 1 what will be used In taking over the stock of the other railroad properties. In the interest of the New York Central stockholders, the Investigator will report also whether the issue of 4 per cent bonds Is necessarly een though the consolidation of the railroads rail-roads Is unobjectionable. |