AMERICAN ITEMS.

Hokitika Guardian, 27 August 1924, Page 3

AMERICAN ITEMS.

[l!kutkiis Telegrams.] r.S.A. RAILWAY CONSOLIDATION. (Received this day at n.m.) NEW YORK. Aii-nst 20. The Directors of the Krie Railroad Oov.. liave approved of an offer from the Vail Niveringor interests to consolidale the road, with four others, into their proposed fifteen hundred million dollars niekelplate system, 'i'his virtually completes the unification of almost fourteen thousand miles of railway in the eastern section. The terms, broadly. provide that ladders of Krie fust and second picfcrred shares shall receive fifty per cent ol their holdings in preferred stock in the new eoinpnny and the common holders nil! receive forty per cent of holdings in the new common stock. ANOTHER LOAN EOR FRANCE. [RKUTKIIS Tegegaamh. ] (Received this day at 1.00 p.m.) NEW YORK Au-iist 2d. Banker* indicate that negolia Lions lor another loan to the p renclt Goverilincnt may follow the expiration in September of the llnudicd million dollars credit granted last .March by Alorgait and Comptiny to the Rank ol Franee for the purjosc of stabilising the franc. COY. INHERES E.MPLOY EES. (Received this dtiv at I .•’’•> pin.) XFAY YORK. August 2(5. The Northern Pacific Railway Company announced that it had insured twenty-live thousand, employee* for fiftv million dollars in the Action. Company. Every employee who had completed the probationary period would be insured for an amount to he payable tit death, the ] remiiim to he wholly paid by the Coy. The employees would also he permitted to insure, additionally or jointly with the company. The insurance is payable immediately i an employee is disabled permanently before sixty.