Word: rails
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Dates: during 1960-1969
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American railroads are still a long way from consolidating into two or three giant lines that would blanket the nation, but the trend is clearly in that direction. There have been 35 rail mergers since 1957, and a dozen mergers are now pending. Last week the Chicago & North Western and the Chicago, Milwaukee St. Paul & Pacific, which have been eying each other ever since 1939, finally decided that one can live more cheaply than two. The estimated saving from sharing their facilities and eliminating duplicating service: about $40 million annually...
Milwaukee & North Western Transportation Co. will rank among the top two or three roads in the U.S.-a system with nearly 21,000 miles of track, annual revenues of $450 million and assets of $1.3 billion. Since the Interstate Commerce Commission generally has looked favorably on recent rail mergers, it is expected to give its approval to the union...
Died. Gheorghe Gheorghiu-Dej, 63, President and Communist leader of Rumania, the self-educated son of a metalworker, who joined the Reds in 1929, went to jail three years later for leading a rail strike, was freed by the Soviet Army in 1944, and came to power when King Michael was ousted in 1947, ruling ever since; of pneumonia; in Bucharest (see THE WORLD...
Kerala was an especially difficult testing ground. The Malayalam-speaking inhabitants had attacked post offices and disrupted rail services over the Hindi question. Though the most Christian state in India and the one with the highest literacy rate, Kerala is desperately poor and has a radical tradition. Back in 1957 the Communists captured the state government, ruling for 27 chaotic months until removed from of fice by a presidential decree...
Connecticut's Senator Abraham Ribicoff has proposed creation of a $100 million federal emergency fund to save the nation's failing commuter railroads, the weakest link in the U.S. chain of rails. To bolster the bankrupt New Haven line, whose trustees are seeking to cancel service covering all of its 26,000 commuters, Rhode Island's Senator Claiborne Pell wants to set up a four-state authority to provide subsidies. Last week New York's Senator Jacob Javits and Congressman Ogden Reid proposed that New York, Connecticut and the Federal Government share in underwriting...