Word: icc
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...aptly described as "unique." The train that came under the commission's scrutiny operates almost at capacity in peak seasons, remains as plushly appointed as the day it came into operation 18 years ago, and has received virtually no complaints from passengers about deteriorating service. Moreover, noted the ICC, it passes through "some of the most spectacular scenery in the country" and thus is a "national asset." So saying, the commission ordered that service to be continued for at least one more year...
Ironically, it was Saunders' own skill that helped build one of the roads that now have the Penn Central, originally given the green light by the ICC last April, tied up in the Supreme Court. The Norfolk & Western, which he headed in 1958-63 and grudgingly calls "by all odds, the most profitable railroad in the world," two weeks ago reported record earnings of $98 million-highest of all U.S. roads except for the huge Southern Pacific ($100 million...
Even if it gets Supreme Court approval, possibly this spring, the Penn Central track may not be as polished as it appeared when the merger plan was announced back in 1961. For one thing, the ICC has ordered it to indemnify some smaller railroads for freight losses they may incur from the merger. Bending to another ICC demand, the Penn Central has agreed to buy the bankrupt New Haven Railroad for $140 million, and that price may go up. Last month the ICC began hearings at which New Haven creditors complained that the price is far too low in view...
James W. Newman, who graduated in 1926, is chairman of Tower Club and of the Grad ICC. Although he has led the way in promoting more intellectual activities in clubs by providing speakers and libraries, Newman is typical of the reactionary element of the grad boards. Steve Oxman, president of the Undergraduate Council (UGC) and the prime mover in the Bicker revolt, said that Newman told him that even if 100 per cent of the undergraduates favored the new proposals, the grad ICC wouldn't budge. Only three grad board chairmen said that they would approve of changing Bicker...
Oxman calls the Grad ICC "obdurate," and that seems a mild epithet. He sees no chance for the enactment of his proposal to liberalize Bicker unless there is a radical change in the nature of Princeton's alumni. And there does seem to be a change coming somewhere on the horizon...