Word: control
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Dates: during 1920-1929
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Railways: "The German Railroad Company is in a strong financial position owing partly to the recent increase in its tariffs and to the beginnings of improved financial control. There is no question about the ability of the company to carry the full annual charge for the service of its Reparations bonds, provided it follows a prudent financial policy...
...Railroadmen prohibited from working more than eight hours a day, except in emergencies; strikes and lockouts illegal, except after 90-day notice; the President empowered to take control of railways in national emergencies...
...trunk systems. But there was no acceptable plan. So the railroads have bought to form system themselves. Between the Mississippi, Great Lakes and Atlantic Seaboard, the Pennsylvania, New York Central and B. & O. were solidly braced to take on smaller lines. The Van Sweringens entered the situation by buying control of the Nickel Plate, Chesapeake & Ohio, Erie, Pere Marquette and Hocking Valley and offering a plan (contested in the event) for unifying them. Leonor Fresnel Loree entered it by control of the Delaware & Hudson and the Wabash, by buying near control of the Lehigh Valley and by getting an option...
...Loree had nominally dropped out of the eastern contest. He still controlled his Delaware & Hudson. But he had sold his (i. e., D. & H.'s) control of the Wabash and his near control of the Lehigh Valley to the Pennsylvania. He had forfeited his option...
...Pennsylvania (William Wallace Atterbury, president) had the biggest, best-integrated, and most strategically located system of the district. It had control of the Wabash and almost half the stock of the Lehigh Valley. Most significantly it was in process of establishing itself in the public mind as the eastern railroad. This it was doing by institutional advertising and by pushing new railroad features, as electrification, air-rail transportation...