Word: fe
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Dates: during 1950-1959
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...rambunctious newcomer among Midwest railroaders is Chicago Lawyer Ben W. Heineman, 42. Less than two years ago, he won a proxy fight for control of the Minneapolis & St. Louis Railway, has since boosted earnings per share 14% to $2.35. He is also trying to outbid the Santa Fe and the Pennsylvania for little Toledo, Peoria & Western Railroad, a main bypass around Chicago for transcontinental freight. Last week Heineman announced that he is after a much bigger prize: the long (7,870 miles) and longtime ailing Chicago & North Western Railway, which runs from Chicago to Lander...
...continuing steel demand came from U.S. railroads, which are expanding as never before to meet new markets. The Association of American Railroads estimated that overall profits for 1955 may hit $915 million for Class I roads, the best year on record. The New York Central, Union Pacific and Santa Fe are all reaping the benefits of new equipment and expanding business along their tracks; Central profits of $52 million were 400% higher than 1954. For the giant Pennsylvania Railroad, increasing dieselization, new maintenance shops, heavier coal and steel shipments added up to the best year in a decade. President James...
Guiding spirit of the top-level, nine-man citizens' committee that put together the report was New Mexico Publisher (the Santa Fe New Mexican) Robert M. Mc-Kinney, 45, who was tapped for the job because of his longtime friendship with Senator Clinton Anderson, Joint Committee chairman. A corporation director (Rock Island Railroad, International Telephone & Telegraph) and cattle breeder (Aberdeen Angus) but no scientist, Bob McKinney set his task forces to work ten months ago, organized 15 discussion groups of specialists, launched 50 special studies, interviewed 327 top experts in science, industry, agriculture, medicine...
...million, spent some $240 million to improve it.-It was Harriman who pioneered automatic block signals, spanned Utah's Great Salt Lake with 16 miles of embankment and twelve miles of trestle. The S.P. is the nation's second-longest railroad (after the Santa Fe); adding wholly owned affiliates and the Cotton Belt, which it controls (88%), it is the longest, with 14,854 miles of road...
...move in. Every day at least one new company chooses a site on S.P.'s right of way; 15,000 new freight cars are on order. Southern Pacific's 1954 net of $48.7 million made it the third most profitable U.S. railroad (after Union Pacific and Santa Fe), and 1955 profits reached $56 million. To continue to earn such good profits, Russell believes that railroads must change with the times. Instead of carping about airlines, he wants to operate them. Says he: "If the train is going to be outrun, why shouldn't we go along? There...