Word: beven
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Dates: during 1950-1959
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...competition almost wrecked Central. It suspended dividends, and its stock, which had once hit $184, fell to $4.75. Control of the entire $700,000,000 system could have been bought for only $3,300,000. By trimming costs to the bone, President Lawrence Downs and his successor, John L. Beven, managed to pull the road through, though it was touch & go. One time, the papers were even drawn up to put it into bankruptcy. World War II sent the road highballing again, and Beven began using earnings to trim the $368 million debt and buy new equipment. When Beven died...