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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")
Tells of hasty "shopping tour." Washington, D.C., May 12. Charles T. O'Neal, President of the Chicago and Ester Illinois Railroad, tells the Senate Railroad Financing Committee of his hasty "shopping tour" in October 1931 for a loan to meet immediate obligations of the O. & E.I. The road finally procured a $700.000 loan from the Midland Bank in Cleveland after bringing out that the executive Committee of the Chesapeake and Ohio Railroad had authorized purchase of the $700,00 from the bank by the C&O, acting Chairman Truman charged the bank was nominated by the Van Swerigans. Further testimony brought from Herbert Fitzpatrick, President of the C&O that the bank acted only as "agent" in the loan while actually it was a C&O loan, 5/12/1937
Summary
A black and white photo of a group of men.
Public domain portrait photograph, free to use, no copyright restrictions image - Picryl description
Tags
Date
01/01/1937
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.
