Word: freights
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Dates: during 1950-1959
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Without spending a nickel, the Pennsylvania Railroad made a deal for 10,000 new freight cars last week, the biggest order placed with car builders* in 25 years. The $55 million bill (80% down payment) will be paid by the Equitable Life Assurance Society (see below), which will rent the cars to the Pennsy for 15 years, on a sliding scale running from $1.50 down to $1 a day. This is the fourth rail equipment purchase Equitable has arranged since President Thomas I. Parkinson launched its plan eight weeks ago (TIME, April 10) to 1) put its idle funds...
...going to take more than presidential boards to stop 74-year-old Davey Robertson. As wheels stopped moving on the four struck roads, ticket agents sweated out the chaotic task of rerouting stranded passengers over other routes. Buses and airlines were clogged with suddenly shifted loads. Freight piled up in yards, railroad towns took on a Sunday quiet. In Altoona, Pa., at the base of the Pennsylvania's climb over the Alleghenies, almost two-thirds of the town's workers were idle...
...popular strike; some 200,000 men were unwillingly out of work. By week's end, all four railroads were moving some passengers, some freight behind diesels manned by supervisory personnel, regular engineers and in some instances even by regular firemen. In Chicago, negotiators for the two sides had holed up in separate hotels, arguing with each other through exhausted federal mediators. This week the two sides reached an agreement and the strike ended. The union, said the railroads happily, had given up on the third man, and other issues would be arbitrated later...
...Schuman plan would establish a single steel and coal market for France and Germany, plus any other European countries that want to join. It would abolish customs duties and discriminatory freight rates on coal and steel. A joint international authority of the member nations would be set up to run the industries, with the specific tasks of 1) modernizing production; 2) supplying coal and steel to France, Germany and other members of the combine "on equal terms"; 3) developing joint exports to other countries...
...Jackson, Tenn. of John Luther Jones, folk hero of U.S. railroading, went fans from far & wide. The occasion: the 50th anniversary of the murky night when "Casey" Jones* died with his hand on the brake of the Illinois Central's crack Cannonball Express as it plowed into a freight train at Vaughan, Miss...