Word: railways
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...mile Missouri-Kansas-Texas line three months ago (TIME, Jan. 21), railroaders agreed that the new president would put the coughing Katy back on the tracks if anybody could. With a reputation as a savior of sick railroads, Deramus came to Katy fresh from rescuing the Chicago Great Western Railway Co. from heavy debt, hoped to do the same for Katy, whose earnings skidded 37% in 1956, and whose preferred stockholders were due $106 million in dividend arrears. In short order, Deramus trimmed the Katy's payrolls, ordered economies in everything from telephone calls to recordkeeping, even abolished...
First to weaken in the face of this stalemate was the government. Late last week, despite all of Harold Macmillan's sermons against a new round of wage increases, the government-owned national railways bought off the threatening railway workers with a 5% increase, though the cost of living has gone up only 3% since their 7% wage increase last year. A few minutes later came the announcement that able, fast-rising Minister of Labor Iain Macleod, 43, had persuaded the shipyard employers and union leaders to agree to face-to-face negotiation of their differences...
...estimated at more than 7 billion bbl. To do it, the Cabinet also okayed his plan to sink 350 more wells. Another major problem is transporting so much oil across some 500 miles of desert to the sea, too big a job for two narrow pipelines and the railway. To get the oil out, Lemaire will lay down an null 530-mile pipeline from the wells directly to the Algerian or Tunisian coast...
...Railway union leaders rejected a government wage award yesterday and threatened to add another nation-wide strike to Britain's labor disputes in the shipbuilding and heavy machinery industries. The railroad strike threat developed 24 hours after 2 1/2 million factory workers received union orders to begin a "snowball" walkout next Saturday in manufacturing plants throughout the nation...
...central spans (the "High Girders") of the Tay Bridge broke under a wind of hurricane force and fell into the stormy estuary; with them fell a train carrying 75 men, women and children. There were no survivors. For weeks afterwards divers groped about the muddy estuary recovering pieces of railway hardware and bodies. Tay fishermen dragged the river bed for more bodies. The victims were neatly laid out in the station waiting room, and dour Dundee turned out eagerly to watch the funereal spectacle. British Novelist-Newspaperman John Prebble has told the story of the disaster rivet by rivet-from...