Word: icc
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Dates: during 1950-1959
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RAILROAD v. TRUCK battle for freight business will soon be on a more even footing. The Interstate Commerce Commission ruled that current truck rates on less than carload lots throughout the East and Midwest are too low and constitute "destructive competition." ICC has ordered the truckers to boost rates from 16? to 33? per 100 Ibs. to bring them closer into line with railroad charges...
ROBERT R. YOUNG won an important victory in his battle over reorganization of the bankrupt Missouri Pacific Railroad. The ICC reversed itself, approved a plan that would give some value to 828,395 shares of previously worthless MoPac common stock, 49% of which is owned by Young's Alleghany Corp...
...said Murchison, is that "Young is gun-shy." Young feared that if Alleghany had bought the stock outright in the first place instead of lending the money to the Texans, the Interstate Commerce Commission would not let him vote it in the Central fight. His fears proved baseless, since ICC later ruled that Alleghany could have bought the stock itself...
PIGGYBACK railroading, temporarily checked by an ICC order four weeks ago, now has the commission's O.K. Though truckers have complained about proposed rates of six railroads for carrying loaded trailers on flatcars, the ICC decided to give their new service a green light, while the rate discussion continues...
...mile run between New Haven and Boston last week, the New Haven's new president, Patrick B. McGinnis, who wooed stockholders with the promise of better passenger service, put on a demonstration of ACF's speedy train. With special ICC permission, the engineer disregarded the 60-m.p.h. speed limit on curves, went into the turns at 87 m.p.h. On the long straightaways, he pushed ACF's Talgo up to 102.8 m.p.h. and pulled into Boston in 150 minutes. Though it was a stop-and-start experimental run, the time was still ten minutes better than the best...