Proposed Consolidation of Eastern Railroads
Current controversy over the plan for consolidation of the eastern railroads and over pending legislation to impose new restrictions upon railroad mergers is expected to continue into the life of the next Congress and to play an important part in an impending revision of the Transportation Act of 1920. No action on railroad problems is now expected before the present Congress comes to a close on March 4, 1931. The Seventy-second Congress is expected, however, to undertake the most important revision of existing railroad legislation since the roads were returned to private management on March 1, 1920.
The demand for new legislation to govern railroad mergers has been brought to a head by the negotiation of an agreement between the Pennsylvania, ...