Statement on Railroad Consolidation Negotiations.

The President has been informally advised by the representatives of the carriers and employees who have been negotiating over a proposed railroad consolidation plan that a virtual impasse has been reached in these negotiations.

The President has personally requested both sides to continue the negotiations in an effort to reconcile the differences.

In response to this request from the President the carriers and employees have agreed to continue the negotiations.

In the meantime the President has also indicated to the Congressional leaders his desire that the continuance of these negotiations not interfere with the consideration of pending legislation .bearing on the subject of railroad consolidation.

The President has received assurances from the Congressional leaders that they will proceed with consideration of this legislation.