Word: metzman
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...Central brought White in as president in August 1952 to replace hard-working Gustav Metzman, who had brought the road back from a 1946 deficit of $10.4 million to a net of $14.7 million in 1951. Metzman also had a $140 million-a-year rehabilitation program under way. White decided to cut the capital program, concentrate on improving the mainline roadbed. He trimmed out layers of top management and shut down some non-paying passenger lines. Last year net income hit $34 million, highest in nine years. Dividends of $1 a share were paid, and another 50? was declared this...
...which is relatively small (28th in operating revenue), became one of the best-run U.S. railroads. Last week, 55-year-old Bill White got the chance to show what he can do with the huge New York Central Railroad, which picked him to succeed 66-year-old president Gustav Metzman, who is stepping upstairs to chairman. Said White of his promotion: "There are no great men; somebody quits, somebody dies, or you happen to be the right age....So much of it is luck...
Railroad men yelped in pain as well as anger. What stung them most were murmurs by Government men that railroaders had infiltrated the Army & Navy transportation services and had been able to bill the Government to benefit their companies. Snapped New York Central's President Gustav Metzman: "The Government was not in any instance charged a higher rate than commercial shippers . . . I would like to testify to the conscientious service rendered by our railroad...
...fortnight ago Central's President Gustav Metzman called Young to ask if he could come and see Young at his winter home in Palm Beach. Neither Metzman nor Central's Chairman Harold S. Vanderbilt had to be told that Young's Chesapeake & Ohio Railway Co. had become by far the largest single owner of Central's stock. C. & O.'s holdings, which were reported at 315,000 shares, were now up to 400,000, about 7% of all shares outstanding. Vanderbilt and Metzman went to Palm Beach...
After the conference, Gus Metzman announced that, in line with Central's "policy to recognize the propriety of representation on the part of such large holdings...