Word: railways
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When the Foreign Operations Administration granted India $20 million last December to renovate its creaky railway system, it planned to buy 100 locomotives and 5,000 cars at the lowest possible price. But when FOA asked for bids from railroad equipment shops around the world, it ran into trouble. The bids from U.S. builders were about twice as high as those from foreign competition (TIME, Sept. 6). The domestic makers, who need the business, and labor unions put the pressure on FOA Boss Harold Stassen for the contracts...
...Normandy to report his rebuffs to French President René Coty, who was taking the waters at Bagnoles de 1'Orne. The same evening, feeling sorry for himself, Mendès took his private diesel train back to Paris, ordering the engineer to stop overnight on a railway siding. "I was all alone with the rain," the Premier said afterwards...
CYRUS EATON, wily old (70) boss of Cleveland's Otis & Co. and the Chesapeake & Ohio Railway, was helped up, then knocked down, by the U.S. Government. Otis was cleared by the Securities & Exchange Commission of six-year-old charges that it welshed on a $10 million deal to help float stock for Kaiser-Frazer Corp. But Internal Revenue agents handed Eaton a $1,570,000 bill for back income taxes (1943) on a $1,909,000 profit he made by transferring stock between two Canadian iron-ore companies...
...break?" "There is no mystery in the matter," answered he cheerfully: "You are attentive to the baby and not to the glass.") How could she learn to stop biting her nails, not to "grin in an idiotic kind of way," to endure deafening small talk ("Those who live near railway stations," replied his Rev, "soon cease to hear the puffs and screams ... of engines...
...freight cars, etc., will probably not pull the New York Central out of the industry organization, at least for the time being. The A.A.R., which gets about 8% of its annual budget from the Central, will try to work out a compromise with Young's rival Federation for Railway Progress, expects either President Perlman or Young himself to take the vacant seat on its board left by outgoing Central President William White...