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![In spotlight at Senate Railroad Inquiry. Washington, D.C., Dec. 17. J.J. Anzalone, President of the Mid-America Corp., and Comptroller for many Van Swerigan companies, was questioned today by Chairman Burton K. Wheeler at the Senate Railroad financing inquiry. Anzalone told the committee of an option agreement between the Allegheny Corp., former Van Swerigan top holding Co., and the Chesapeake and Ohio Railroad Feb. 1, 1932 under which C&O agreed to buy 382,000 shares of Erie and Nickel Plate Railroad stock for $5,062,000. Chairman Wheeler attempted to show that this deal was a violation of the Sherman [Anti]-trust law](https://cache.getarchive.net/Prod/thumb/cdn4/L3Bob3RvLzIwMTUvMTEvMjUvaW4tc3BvdGxpZ2h0LWF0LXNlbmF0ZS1yYWlscm9hZC1pbnF1aXJ5LXdhc2hpbmd0b24tZGMtZGVjLTE3LWpqLWFuemFsb25lLXByZXNpZGVudC02NDAuanBn/40/31/webp "In spotlight at Senate Railroad Inquiry. Washington, D.C., Dec. 17. J.J. Anzalone, President of the Mid-America Corp., and Comptroller for many Van Swerigan companies, was questioned today by Chairman Burton K. Wheeler at the Senate Railroad financing inquiry. Anzalone told the committee of an option agreement between the Allegheny Corp., former Van Swerigan top holding Co., and the Chesapeake and Ohio Railroad Feb. 1, 1932 under which C&O agreed to buy 382,000 shares of Erie and Nickel Plate Railroad stock for $5,062,000. Chairman Wheeler attempted to show that this deal was a violation of the Sherman [Anti]-trust law")
![Pennsy VP before Senate Rail Inquiry. Washington, D.C., Dec. 21. After hearing Chairman Wheeler of the Senate Inquiry charge the Pennsylvania Railroad with violating ICC decisions and concealing facts from stockholders in purchasing railroad stocks from 1925 to 1928, [...]County Financial Vice President of the Road, testified the purchases were made to protect the interests of the stockholders. He added this was in line with a program then being considered to divide the Railroads of the East into four great systems. 12/21/37](https://cache.getarchive.net/Prod/thumb/cdn4/L3Bob3RvLzIwMTUvMTEvMjUvcGVubnN5LXZwLWJlZm9yZS1zZW5hdGUtcmFpbC1pbnF1aXJ5LXdhc2hpbmd0b24tZGMtZGVjLTIxLWFmdGVyLWhlYXJpbmctY2hhaXJtYW4tNjQwLmpwZw%3D%3D/40/31/webp "Pennsy VP before Senate Rail Inquiry. Washington, D.C., Dec. 21. After hearing Chairman Wheeler of the Senate Inquiry charge the Pennsylvania Railroad with violating ICC decisions and concealing facts from stockholders in purchasing railroad stocks from 1925 to 1928, [...]County Financial Vice President of the Road, testified the purchases were made to protect the interests of the stockholders. He added this was in line with a program then being considered to divide the Railroads of the East into four great systems. 12/21/37")
Senate quizzes Wabash R.R. head. Washington, D.C., Dec. 20. Before the Senate Rail Inquiry today, A.K. Atkinson, Vice President, Secretary and Treasurer of the Wabash Railroad, testified that from January 1926 through January 1927, the road secretly purchased 231,319 shares of Lehigh Valley stock at a cost of $23,263,571. These purchases were made, Atkinson said, without authority of the Board of Directors. Chairman Wheeler indicated the transactions a "shocking revelation" and urged immediate legislative action to curtail the "juggling of books," 12/20/37
Summary
A black and white photo of a man sitting at a table.
Public domain portrait photograph, free to use, no copyright restrictions image - Picryl description
Tags
Date
1937
Contributors
Harris & Ewing, photographer
Location
Washington, District of Columbia, United States, 38.90719, -77.03687
Source
Library of Congress
Copyright info
No known restrictions on publication.
