The newly founded national railway company, formed through the amalgamation of five large private companies will become state property in 1982 for which the railway companies will receive stock to an extent of about Frs. 695,000,000 nominal value while the state bolds 51 per cent. of the stock. The board of the new company will comprise 33 members, including the vice-president of the State Council, the Governor of the Bank of France, the Director of the Caisse des Depots and twelve additional representatives of the state, twelve representatives of the railway companies, two persons who have rendered special' service in the development of railway _transportation and four representatives of the railway personnel.
The Premier, M. Camille Chautemps expressed deep satisfaction over the successful conclusion of the immediate work of rehabilitation in the financial and economic field to press representatives last night, acknowledging especially the endeayours of the Minister of Finance, M. Georges Bonnet, and of the Minister for Public Works, M. Henry Queille.—Trans-Ocean.
Text read from the printed page and cleaned; old type leaves the occasional error.