Kansas City Southern Industries filed an application...

Kansas City Southern Industries filed an application with the Interstate Commerce Commission asking for authorization to buy Southern Pacific Transportation, one of two railroads owned by Santa Fe Southern Pacific. The ICC has already received an application for permission to buy the SP from Rio Grande Industries. ICC action on that deal is expected in August. However, Kansas City Southern President Landon Rowland argued for his firm’s application, saying, “ownership of the Southern Pacific by Kansas City Southern would be best for the public interest.”