Word: norfolk
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Dates: during 1960-1969
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Convinced that nuclear power can at last meet or beat the cost of other sources of electric energy, Virginia Electric and Power Co. last June ordered a giant 750,000-kw. atomic power plant to be built on Hog Island in the James River near Norfolk. Last week the utility company doubled its bet, told Westinghouse Electric to put up two 800,000-kw. atomic-fueled reactors and generators on the same site. The price tag: $200 million...
...Pennsylvania and Central's request to merge, has ordered that the bigger line continue current freight interchanges with the smaller railroads in order to guarantee their revenues. The three small roads are destined to eventually end up in a second merger that will link them with the Norfolk & Western and C. & O.-B. & O. in a system as big as the Penn Central. The suspicion is that the smaller railroads, which do not oppose the Penn Central merger, are actually maneuvering to get better terms in the merger of the remaining lines. So thought the court's majority...
...biggest and newest toll in trouble is the $200 million Chesapeake Bay Bridge-Tunnel. With a trestle highway broken by two bridges and two tunnels, it covers 17½ miles between Norfolk and Cape Charles, across the stormy mouth of Chesapeake Bay. It is an engineering wonder that cuts the old 1½-hour ferry ride to 25 minutes of scenic driving. But traffic is only a little over half of what the experts predicted. As a result, revenue is not enough to provide the interest on the $200 million in bonds issued by the bridge-tunnel. Interest charges...
...Reasons. One reason for the sparse traffic is the steep toll-$4 for car and driver, plus 85? for each passenger older than six. Another explanation: early completion of Interstate 95, which provides a competing route farther inland. Besides, an expected economic boom in the Norfolk-Virginia Beach area has simply not materialized...
...Norfolk...