Word: railroads
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Full Freedom. The first important exile to return was Socialist Mario Scares, 49, who had been jailed twelve times before being deported five years ago. Soares was met at Lisbon's Santa Apolonia Railroad Station by a throng of 7,000, a scene that some compared to Lenin's famous arrival at the Finland Station in 1917 after the fall of the Czar. The second prominent exile to come back was Communist Alvaro Cunhal, 59, who had been living in Eastern Europe for the past 14 years, after serving 13 years in Portuguese jails. Cunhal's presence...
...Securities and Exchange Commission was only doing what had long been expected last week when it filed civil suits charging that massive fraud preceded the spectacular 1970 bankruptcy of the Penn Central. Even so, the suits-one against twelve former officers and directors of the railroad, headed by onetime Chairman Stuart T. Saunders, and also the accounting firm of Peat, Marwick, Mitchell & Co.; another against the investment firm of Goldman, Sachs & Co.-are unusually significant...
...contends that Saunders, David C. Bevan, Penn Central's former chief financial officer, and other Penn Central managers arranged improper transactions between the railroad and its subsidiaries, improperly recorded revenue and made false statements about Penn Central's borrowings. The SEC is also attempting...
Raised the son of a railroad...
Still another potential hitch is the fact that the Soviets last month abandoned their plan for an east-Siberian oil and gas pipeline and instead plan a railroad that would run roughly parallel to the Chinese border some 250 to 300 miles inside Soviet territory. Among other things, it would carry Siberian oil to ports for export to Japan. The Chinese are probably worried by the idea of a railroad, which also could be used to carry troops and arms. Japanese relations with China have been improving recently, and Premier Kakuei Tanaka is unlikely to do anything to jeopardize that...