Word: railings
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Dates: during 1920-1929
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...President Hoover last week reappointed Joseph Bartlett Eastman to the lately active Interstate Commerce Commission (see p. 11) to the great disgruntlement of reactionary rail men. Also appointed to the I. C. C. was Robert M. Jones of Tennessee...
...rejecting merger proposals, has been telling carriers how they might not consolidate. Its own plan serves to show roads how they now may. The Commission has no power to compel roads to merge in accordance with its plan, which it frankly states is subject to "modification." Since rail consolidations became a public policy in 1920, grave doubts have arisen as to their present necessity. Carriers have improved financially by leaps and bounds, with few weak roads needing the aid of strong ones. The agitation in Congress for additional consolidation legislation is designed to give the roads a sort of power...
...Republic-Youngstown amalgamation, which has on several occasions appeared all but ratified, may yet be arranged, and Chicago's Inland Steel Company, in which Mr. Eaton is heavily interested, is also a potential member of the combination. The Republic group at present lacks a rail-making member-a gap which Inland would fill. Present ranking of the leading steel companies...
Transcontinental Air Transport announced last week an augmented train plane schedule linking Manhattan with San Francisco. Transcontinental passengers now transfer at Los Angeles (Glendale Terminal Airport) and for $10 extra reach San Francisco about three hours later. Present (reduced) net charges for transcontinental air rail travel (New York to Los Angeles, over the Maddux Line which recently merged with T. A. T.) are: T. A. T., $267.43; Western Air Express, $211.20; Universal Air Lines System...
...Commission, in its annual report last week, shook a warning finger at non-carrier holding corporations which gain control of two or more competing railroad systems. Congress was asked to make a "thorough investigation" of this latest corporate custom by which the I. C. C. feared its plan for rail consolidations "is very likely to be partially or even wholly defeated." The Commission admitted that for such a new threat it could not find an appropriate remedy...