Word: railroads
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...successful railroad financier, Schiff began purchasing collections for the Semitic Museum long before its official dedication 82 years ago. His goal was to create an institution that would counter "anti-Semitism in Europe and America by promoting a better knowledge of Semitic history and civilization," he told a gathering of the museum's patrons...
DIED. Patricia Roberts Harris, 60, lawyer and educator, the first black woman to hold a Cabinet post or serve as a U.S. ambassador; of cancer; in Washington, D.C. The daughter of a railroad-car waiter, she graduated first in her class at George Washington University Law School and later became dean of the law school at Howard University. In 1965 President Johnson appointed her Ambassador to Luxembourg. As Jimmy Carter's Secretary of Housing and Urban Development and then of Health, Education and Welfare, she was a forthright advocate of government intervention to solve social problems and a firm administrator...
...control of Atlanta-based Royal Crown, the soft-drink maker, and a 37% interest in Chicago's National Can. Last week, though, key parts of Posner's billion- dollar empire were staggering. Evans Products (1984 sales: more than $1 billion), a Posner-controlled company that sells building materials and railroad cars, filed a bankruptcy petition in Miami. Posner's Sharon Steel seems shaky; it is more than two weeks late with a $23 million payment on its $330 million debt. Neither firm has ever recovered from the 1981-82 recession...
...largely ignored. To get federal support for building the Union Pacific Railroad at vastly inflated costs, the Credit Mobilier conspirators handed out bargain-priced stocks to more than a score of Congressmen, including future President James Garfield and future Secretary of State James Blaine...
...industry built of iron and steel is showing an affinity for the silicon chips of high technology. Railroads are the third-biggest private users of computers, after airlines and banks. At Burlington Northern operations headquarters, a battery of terminals has replaced a 65-ft. wall display that was formerly used for monitoring the whereabouts of locomotives. Southern Pacific, which developed the Sprint long-distance telephone service and sold it in 1983 to GTE for $740 million, is currently developing another advanced communications system. In a venture with Santa Fe and Norfolk Southern, the company is creating a coast-to-coast...