Missouri Pacific Bill Dug Out of the Discard
Nebraska lawmakers revived a shelved railroad-finance bill at the request of the Missouri Pacific's attorneys, exposing the tug-of-war between railway commissioners over corporate stock exchanges.
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Omaha Daily Bee 187?-1922 · February 21, 1915 · Page 1
From a Staff Correspondent1 min readLINCOLN, Feb. 20.
At the request of attorneys for the Missouri Pacific railroad, the house this morning dug up H. R. 55 from its grave and sent it back to the committee on corporations for further consideration. This bill is an amendment to the stock and bonds act of 1909. It permits railroads and public service corporations to exchange their common stock outstanding for preferred stock, when the same is sanctioned by two-thirds of the stockholders and approved by the railway commission.
The bill has the endorsement of Railway Commissioners Clarke and Taylor, but is opposed by Commissioner Hall. It was on Hall's recommendation that the corporations committee, several days ago, voted to indefinitely postpone the bill.
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