Word: options
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Dates: during 1920-1929
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Railroads. The Van Sweringen brothers gained control of the Buffalo, Rochester & Pittsburgh Railway, on which Leonor Fresnel Loree (trying to make a fifth eastern railroad system) for a time had an option...
Before Leonor Fresnel Loree last spring was forced to abandon his threat of a fifth Eastern railroad system, he had an option on the Buffalo, Rochester & Pittsburgh Railway. This is a 600-mi., Y-shaped road joining Pennsylvania's soft coal and steel districts to Lakes Erie and Ontario. It lay as an important joint for him to connect his Delaware & Hudson, the Wabash (which he controlled) and the Lehigh Valley (which he thought he controlled). It was a pretty railroad layout and promised to compete with the New York Central, the Pennsylvania and the Baltimore & Ohio established systems...
...Loree had his option to buy control of the B. R. & P. He had had it more than a year. It lapsed; he renewed it, expensively, by payment of a goodly "binder...
...impossible to ascertain), Pennsylvania's President William Wallace Atterbury, while fanning Mr. Loree's fire with one hand, had his other hand on Mr. Loree's chestnuts. Whatever the opposing forces were, the Interstate Commerce Commission frowned against the Loree B. R. & P. purchase. He let his second (renewed) option lapse. The B. R. & P. was on the open market...
...hardly conceivable that our progressive and essentially moral people will go back to a condition where we will be bone-dry in one State and souse-wet in another, and where churches and schools will elevate one city and gin mills degrade another. States' rights and local option would mean alcohol ad libitum and ad nauseam wherever the whiskey rings held political sway; and that is not a thing to be contemplated in any sort of a sincere temperance program...