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...ships in the Pacific. If the two companies merge President Kenkichi Kagami of N. Y. K. will probably head a combine owning 1,500,000 tons of shipping, 260 vessels. Then more accurate than ever will be N. Y. K.'s boast that its ships "Sail All Seas, Link All Lands...
...Legend is that when Commodore Vanderbilt first heard the asking price, he bellowed, "I would not pay that if the tracks were nickel plated." In 1916 control of the road was bought by Cleveland's hustling Van Sweringen Brothers. It was their first road and is today a key link in their railroad empire. Serving a rich territory, it prospered. In 1929 it borrowed $20,000,000 in three-year notes, using the proceeds to buy 53% of Wheeling
Pennsylvania, with 31½% of the area's total trackage, pushes out to Kansas City and Omaha, gets a new Buffalo-Detroit-Chicago-St. Louis link with Wabash. With Norfolk & Western it taps the Pocahontas coal fields, gains a new port to the South. Detroit, Toledo & Ironton forms a useful North-South connection for its main stems...
Baltimore & Ohio, with 20.3% trackage, reaches the Hudson River by Reading and Jersey Central. Alton gives it a Chicago-St. Louis-Kansas City link. Western Maryland affords a short-cut between Baltimore and Western Pennsylvania. Ann Arbor taps Michigan. With Lehigh & Hudson, a "bridge road," B. & O. gets around New York City, hooks up with New England. Buffalo, Rochester & Pittsburgh opens Western New York...
This agreement was supposed to link Reparations with Disarmament, President secretly agreeing to cancellation of a great part of what Europe owes the U. S. in return for European adoption of his disarmament proposals. If there was such a "gentleman's agreement" last week it is invalid. Congress has tied the Administration's hands, explicitly forbidding cancellation of another cent (TIME, Dec. 3) Congress might reverse itself, but public opinion throughout Europe seemed firmly and dangerously credulous of the "gentleman's agreement...