Word: railways
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...parted from Franklin D. Roosevelt at Marrakech in French Morocco. The President headed west, for a stopover in Brazil. Churchill-though few knew it-headed east. Last week, with six of Britain's highest ranking military, naval and air force commanders, he turned up in Turkey. On a railway siding at Adana, near the Syrian frontier, he conferred with President Is-met Inönü, Premier Sükrü Saracoglu, Foreign Minister Numan Menemencoglu (pronounced men-eh-men´-joe-glue) and Turkey's military commanders. The official communique...
...strategy based on island-to-island conquest in the South Pacific, nor one based on the remote hope of being able to mount an attack via Rus-sian Siberia, is sound. (If Russia declares war, says Dr. Hsu, Japan can easily cut the lifeline of the Trans-Siberian railway, and has consistently kept an approximate 25% preponderance of troops facing the Russians.) Therefore United Nations strategy will call for a huge armada of ships and millions of men if China cannot be used as an attack base...
Edward J. Engel, president of Santa Fe, reported net railway operating income for last year at $83 million as against $40 million in 1941. During the year the road slashed over $18 million from its 1941 debt of $323 million...
Less than a month after Robert Ralph Young finally battled his way to full control of the rich Chesapeake & Ohio Railway System (TIME, Dec. 28), the top executives of two of his four roads bowed to his consuming passion for debt reduction...
...dividends for at least five years (they have already waited for eleven years), since all of Nickel Plate's earnings were earmarked for paying off more than $21,000,000 of debt due in 1947. Then Robert J. Bowman, the successful Young candidate for president of Pere Marquette Railway, told his equity holders that they could go begging until $40,000,000 of bonds due between now and 1956 (57% of the road's bonds) had been fully paid...