Word: railways
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Henceforth the railway system which handles more passengers than any other in the world would be owned & operated, along with all other public transport, by the British government. For about $4 billion worth of shares, railway shareholders received an equal amount of new gilt-edged securities bearing 3% interest guaranteed by the government; the change was not as bad as many had feared...
...first to discover the truth of this conjecture was a Yorkshire linen draper. Shrewd, crude George Hudson, who married the boss's daughter, came into a ?30,000 legacy and swelled it, temporarily, into a railway fortune. In Hudson's heyday, he was able to play with $120 million of Britons' money.† "There he was," said a bitter rival, "crowing like a cock upon his own dunghill...
...Railway King" teamed up with great technicians like George Stephenson, spread arteries of iron through the Northeast and Midlands. Wrote the weekly John Bull: "The whole face of the Kingdom is to be tattooed with these odious deformities . . . the noise and stench of locomotive steam-engines are to disturb the quietude of the peasant, the farmer and the gentleman. ... If [railroads] succeed they will . . . destroy all the relations which exist between man and man . . . and create, at the peril of life, all sorts of confusion and distress...
...finished two new storage warehouses and a 1,057-ft. wharf extension, which increased total berthing space to 3,432 lineal ft. Last week, the Colombian government signed a new, $4 million contract with the same company for 1,000 more feet of wharf, two more warehouses, two railway stations, a new coaling station...
...press conference later, the council's mild-mannered chairman, Edwin G. Nourse, former vice president of Brookings Institution, was less chary. The scarcity of coke, steel, pig iron and railway cars, he said, "is likely to prevent production from overshooting the mark. . . . Given a fair crop year, there's a distinct possibility that 1948 will see an abatement of the inflation...