Word: greyhound
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Chicago, they formed National Trailways System to give Greyhound a run for its money from coast-to-coast...
...Great Northern Railway's then President Ralph Budd. Unlike other railmen, he considered busses not as rivals but as possible allies. In 1926 Great Northern therefore bought 80% of "Northland for $240,000. Leaving that concern largely in Great Northern's capable hands, Busman Wickman formed Greyhound Corp., a holding company for a baker's dozen of other buslines which he & associates proceeded to buy. By 1929 Greyhound straddled from coast to coast, and straddled on Greyhound was a top-heavy financial structure in which Goldman Sachs Trading Corp. held a large interest...
...Greyhound crashed into trouble when Depression struck. Its superb operation under President Wickman continued to make profits but not enough to carry its dividend commitments. These might well have ditched Greyhound for good but for the timely arrival of smart Atlas Corp., which in 1933 took over Goldman Sachs Trading Corp. and with it Greyhound. Atlas left President Wickman in the saddle but cut off the huge dividend arrears by a redivision of stock. With six railroads owning a share in them, Greyhound Lines last week had 1,726 busses which traveled 137,998,394 miles in 1935, an increase...
...eight other lines. Greyhound's boom brought not joy but envy. Forgathering...
...Unlike Greyhound, Trailways is not a corporation. It is an association of five big bus companies, three little ones, each with individual franchises, terminals, routes. Each will continue to act as a separate unit, run only its own busses. But all busses will be painted a common cream & maroon, bear a common name, issue through tickets on each others' lines, will therefore to the public seem identical in function with Greyhound. Only difference will be that Trailway riders will change busses frequently, no great disadvantage because bus riders constantly have to get out anyway...