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From: tommy meehan tmeehan0421 AT gmail DOT com
Date: Thu, 18 Mar 2021 06:16:21 -0400
Subject: Re: The DL&W and the Nickel Plate
"Investigate_Lackawanna_Trust_12071955.jpg" - image/jpeg, 416x687 (24bit)

I am attaching a BUFFALO (NY) EVENING NEWS article (in jpeg format) from
September 1953, reporting on the hearing before the ICC on Lackawanna's
request to have two seats on the Nickel Plate board of directors. The ICC
examiner would ultimately recommend the request be turned down. The reason
was, the examiner believed that Lackawanna had acquired the stock -- in
1947 and 1948 -- not as an investment but as a preliminary step to control
and then merge with NKP. The examiner held that doing this without first
seeking ICC approval,was a violation of ICC law. Before the Commission
ruled, Lackawanna placed the stock with the United States Trust Co. in a
blind trust. Even that didn't placate the Nickel Plate, which asked the ICC
to investigate the move. I am also attaching a WALL STREET JOURNAL news
article from December 1955 with details about NKP's request for an
investigation.

tommy meehan


Investigate_Lackawanna_Trust_12071955.jpg

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