Word: norfolk
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Dates: during 1960-1969
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...Railroads also reported lower third-quarter results. The Pennsylvania Railroad showed a sharp drop in earnings, from $27,557,000 last year to $11,135,000. Union Pacific's net income was down from $26,193,000 to $19,595,000, and Norfolk & Western, normally one of the most profitable, had a 23% earnings decline. The N. & W. managed, however, to set another sort of record. Pulled and pushed by eight diesel engines, a supertrain of 450 coal cars moved over 47 miles of N. & W. track to set a freight-train record for U.S. railroads. Any motorist caught...
...merger-an important "if" to the order. The Penn Central merger has so far been vigorously opposed by other railroads that would be affected, and the judges ruled that three of them-the Erie Lackawanna, the Boston & Maine, and the Delaware & Hudson-should be given immediate homes in the Norfolk & Western. The "if" was that the Norfolk & Western, which wants to hold off acquisition of the three until it has merged with the C. & O.-B. & O., has 15 days to appeal to the Supreme Court. N. & W. President Herman Pevler was noncommittal last week, but his railroad will probably...
Apart from the Norfolk & Western, however, last week's special court ruling did at least clear away some legal complications surrounding the link of the Pennsy and Central into the nation's biggest rail system. The court overruled protests by the city of Scranton, Pa., and unsuccessful Pennsylvania Gubernatorial Candidate Milton Shapp that the merger itself would be detrimental. And it left untouched an ar rangement under which the Penn Central, if the ICC approves, would first lend $25 million to the beleaguered New Haven to keep it going; the Penn Central would ultimately acquire the New Haven...
Phillips Brooks House's self-styled "Whiz Kids" will put Harvard's intellectual reputation on the line this week when they match wits with the best brains of Norfolk prison...
...drop for the quarter. The Pennsylvania Railroad and the New York Central, still waiting to merge, each had lower earnings for the half-year (although the Central managed to move out of the red in the second quarter), while a drop in car-loadings affected healthier lines like the Norfolk & Western, Southern Pacific, Union Pacific, and the Atchison Topeka & Santa Fe. Airlines were mixed...