consolidation of railroads


consolidation of railroads
In the most simple sense of the term, a consolidation of two or more railroad corporations, but in actual practice, a long and involved process, the success of which depends upon the approval of the consolidation by the Interstate Commerce Commission and sometimes by state regulatory commissions, the business of railroads touching the public interest so closely that the regulatory commissions are alert to the possibility that a proposed consolidation will eliminate competition, thereby resulting in higher rates, or be adverse to the public interest in point of service. State ex rel. Nolan v Montana Railway Co. 21 Mont 221, 63 P 926; 44 Am J1st RR §§ 319 et seq.

Ballentine's law dictionary. . 1998.

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