Word: railways
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...into receivership-ICC effected a compromise. The interests: 1) the Erie bondholders; 2) the C. & O., which held 56% of the voting power. The compromise: capitalization would be slashed from $490,953,630 to $322,692,250, fixed charges from $14,368,842 to $7,000,000 (1937 net railway operating income: $13,614,008). With new bonds, common & preferred issues in exchange for their holdings, bondholders would gain voting control of Erie while C. & O.'s interest would dwindle...
...cavalry division. On the chill, white expanse of the drill ground or in the dank corrals, recruits learned the manual of arms, the ways of horses, impressed their officers with their "remarkable intensity and enthusiasm." Machine-gunners and artillerymen practiced firing at wheeled targets, cavorting down a winding, miniature railway...
...Samuel Spencer, president of Southern Railway System, riding on his railway in Virginia, was killed in a rear-end collision. Last week Ernest E. Morris, president of Southern, was riding on his railroad in Georgia (aboard the Ponce de Leon) when the equalizer bar on a diner up ahead broke. The broken bar hit a frog switch, derailed four Pullmans, hurled the last two official cars off a 20-foot trestle, fractured President Norris' skull and left...
...corralled 54% of Turkey's ex port trade, regarded her as an essential source of supply. As a result of the new agreement the British Empire may replace Germany as Turkish customer No. 1, and in return for tobacco, farm products and minerals it will supply machinery, railway equipment, cotton, wool. Not mentioned but probably included in the agreement was a substantial credit to Turkey...
...order" on winter-chilled Norway. Suddenly there were terrible reverberations in the western mountains, and whole mountainsides, loosened by rain and snow, roared down into the valleys. Masses of mud and rock clogged roads and highways, smashed houses and bridges, snapped telephone poles, blocked the vital Oslo-Bergen railway at ten different places...