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From: "Ron" rdukarm AT roadrunner DOT com
Date: Wed, 23 Jan 2008 00:19:58 -0500
Subject: Re: (erielack) Erie Control of NYS&W
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Rick, SGL and List,

There was a court case, UNITED STATES Vs Reading, which addresses this
issue. I've attached the conclusion, but you can read the whole issue at:
http://books.google.com/books?id=V7fqv9ju7lIC&pg=PA940&dq=new+york+susquehanna++western+erie+lease&lr=#PPA939,M1This is written by lawyers, so it takes some time to digest. My quick readis that it has to do with maintaining the appearance of competition, but Idefer to others who can read and analyse this. (It is after midnight) Andyes, there was a lease, but....Ron Dukarm> SGL,>> That's a very good question indeed and one that I've pondered. Many> companies in many industries chose not to dissolve a company that they ineffect took> over. We have to remember that when Erie gained control of NYSW, Eriealso> gained control of WB&E and when it came to coal shipping, with thatcontrol,> Erie was in a competitive position in NEPA, thus the eventual dissolutionof> WB&E, but that's another thread.>> Why Erie never "merged" NYSW, well, I'm not sure. We'd have to look at> NYSW's financials to see what shape they were actually in and even thatmay not> provide the answer as Erie wasn't in the greatest financial shape. Erie> obviously bought up NYSW stock (for territorial reasons), common andpreferred, which> gave them control, unlike the "merger" of Erie and Lackawanna, wherethrough> an exchange of stock, Erie assumed control of DL&W and the name waschanged.>> If anyone can add to the Erie/NYSW queston, please do.>> Rick>>>> **************Start the year off right. Easy ways to stay in shape.> http://body.aol.com/fitness/winter-exercise?NCID=aolcmp00300000002489>>> The Erie Lackawanna Mailing List> http://EL-List.railfan.net/> To Unsubscribe: http://Lists.Railfan.net/erielackunsub.html>

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