Word: freights
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Dates: during 1940-1949
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...York State Legislature, said indignantly that the commuters were right. The Pennsy, the commission found, had milked the Long Island of upwards of $2,000,000 a year in intracompany deals. Some of the deals : ¶The Long Island, using its own tugs and barges, hauls Pennsylvania's freight across New York Harbor to Greenville, N.J., earning the Pennsy $1.10 in terminal credits for every ton of freight. For doing the work, the Long Island gets only 35? a ton. Thus, the Pennsy gets 75? for doing almost nothing. Said the commission: these revenues over the years would have...
...cotton growers, oilmen and cattlemen of the Lower Rio Grande, it was as historic a moment as the coming of the railroads. Through the waterway, freight barges could be towed all the way from Brownsville, Tex. to Florida-1,116 miles -without exposure to the open sea. Cried one Texan: "A shining strand linking together those jewels of progress into a fabulous necklace along the curving bosom of the Gulf...
...farmers of the Lower Rio Grande Valley, who had just begun to harvest the biggest cotton crop in their history, reckoned that the new canal would bring them 1) cheaper freight for their products, 2) lower prices for the steel and other materials they need for plants to process and can seafood and the valley's produce. Three new plants worth about $65 million were already abuilding in Brownsville, partly in expectation of the boom...
...fill Clement's post, Pennsy directors picked another oldster, hulking (6 ft. 6 in.) Executive Vice President Walter S. Franklin, himself at the voluntary retirement age of 65 (mandatory retirement age: 70). Franklin had started on a freight platform in Philadelphia in 1906, worked steadily up through the freight division. He left the Pennsy three times-twice to become president of other railroads (Wabash and the Detroit, Toledo & Ironton). Each time he returned to a better job with the Pennsy. In 1948 he was made executive vice president...
Franklin is not too hopeful about the immediate future of his railroad. He expects Pennsy's 1949 freight volume to fall 15% behind 1948, but anticipates better things by the end of 1950. He will not be president for long after that. Railroaders guessed he will be moved up when Clement leaves the chairmanship and Operating Vice President James M. Symes (rhymes with whims), 51, will take over the throttle. An up-from-the-ranks man also, Jim Symes has great visions of the Pennsy's future, once hopefully proclaimed: "The railroads have a potential travel market that...