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ERIE - LACKAWANNA MERGER STUDY

Joint Facilities

Study XVIII

Changes in operation envisaged in the proposed merger would result in increases and decreases in the use of facilities operated joint with railroads not included in the merger study. Each company's contracts were analyzed to determine the effect of proposed changes in operations on both receivables and payable, and the net change was estimated to be an annual loss of $42,138.

The most substantial item is an estimated increase of $110,830 in payments to the New Haven which would result from increased interchange through Maybrook. Another important item is the probable loss of $72,180 now received from the C&O for use of the Erie's Suspension Bridge branch. The C&O presently has rights into Buffalo over both Erie and DL&W, but would not need both rights after merger. It is assumed they would retain the DL&W rights.