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RAIL MERGERS AND FORMATION OF THE BURLINGTON NORTHERN HOLDING COMPANY

HEARING

BEFORE THE

COMMITTEE ON THE JUDICIARY

UNITED STATES SENATE

NINETY-SEVENTH CONGRESS

SECOND SESSION

ON

RAIL MERGERS AND FORMATION OF THE
BURLINGTON NORTHERN HOLDING COMPANY

MARCH 26, 1982

Serial No. J-97-103

Printed for the use of the Committee on the Judiciary

U.S. GOVERNMENT PRINTING OFFICE

98-7620

WASHINGTON : 1982

COMMITTEE ON THE JUDICIARY

STROM THURMOND, South Carolina, Chairman
CHARLES McC. MATHIAS, Jr., Maryland JOSEPH R. BIDEN, JR., Delaware
PAUL LAXALT, Nevada

EDWARD M. KENNEDY, Massachusetts ORRIN G. HATCH, Utah

ROBERT C. BYRD, West Virginia ROBERT DOLE, Kansas

HOWARD M. METZENBAUM, Ohio ALAN K. SIMPSON, Wyoming

DENNIS DECONCINI, Arizona JOHN P. EAST, North Carolina

PATRICK J. LEAHY, Vermont CHARLES E. GRASSLEY, Iowa

MAX BAUCUS, Montana JEREMIAH DENTON, Alabama

HOWELL HEFLIN, Alabama
ARLEN SPECTER, Pennsylvania

VINTON DEVANE LIDE, Chief Counsel
QUENTIN CROMMELIN, Jr., Staff Director

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CONTENTS

Page

2

31

Melcher, Hon. John, a U.S. Senator from the State of Montana

Williams, Hon. Pat, a U.S. Representative from the State of Montana

Fogarty, Bill, administrator, Transportation Division, Montana Department of

Commerce

Baxter, William F., Assistant Attorney General, Antitrust Division, U.S. De-

partment of Justice, accompanied by Elliott M. Seiden, Chief, Transporta-

tion Section, Antitrust Division.

Krueger, Oliver W., Associate Director, Community and Economic Develop-

ment Division, U.S. General Accounting Office, accompanied by Bob Crys-

tal, General Counsel's Office, GAO, and James Blume, GAO; and Hon.

Reese H. Taylor, Jr., Chairman, Interstate Commerce Commission, accom-

panied by Louis E. Gitomer, Acting Deputy Director, Section of Finance,

İCC; Janice Rosenak, Legislative Counsel, ICC; and William Moss, Bureau

of Accounts, ICC.

Bressler, Richard M., chairman and chief executive officer, Burlington North-

ern, Inc., accompanied by Frank Farrell, senior vice president and secre-

tary, Burlington Northern, Inc., Seattle, Wash.; Richard Grayson, president

and chief executive officer, Burlington Northern Railroad, St. Paul, Minn.;

Alfred E. Michon, vice president, International Burlington Northern, Inc.;

Fred Winegar, president, Plum Creek, Inc.;, Bruce Ennis, president, Merid-

ian Land & Mineral Co.; and Albro Martin, Oglesby professor of the Ameri-

can Heritage, Bradley University.

Sattler, Dr. Edward L., assistant professor, Department of Economics, Bradley

University

Kilroy, Richard I., executive secretary-treasurer, Railway Labor Executives'

Association, international president, Brotherhood of Railway & Airline

Clerks, and a vice president, AFL-CIO, accompanied by William G. Ma-

honey, counsel to RLEA; and Patrick J. Foley, attorney, De Parq, Anderson,

Perl, Hunges & Rudquist, Minneapolis, Minn....

Smith, Daniel H., attorney, on behalf of Citizens' Committee to Save the Land

Grant Railroads; and Peter Pallipamu, chairman, Railway Intercraft Asso-

ciation

Leuthold, John H., Jr., president, Montana Graingrowers Association; Paul

Sacia, legislative assistant, National Farmers' Union; John LeSeur, attor-

ney, Slover & Loftus, on behalf of Western Coal Traffic League; and John

A Creedy, president, Waterway Transport Association.........

ALPHABETICAL LISTING AND MATERIALS SUBMITTED

Baucus, Max (acting chairman):

Opening statement.

Prepared statement of Senator John C. Stennis.

"Studies in Railroad Mergers: Investigation of Historical Traffic Diver-

sions and Regulatory Merger Conditions," a report to the Interstate

Commerce Commission by Steven E. Still and Alain L. Kornhauser.

The Central Pacific conditions..

Traffic conditions imposed on the New Haven inclusion in the Penn

Central Merger..
Seaboard Coast Line merger conditions.

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