Word: nonrailroad
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...other unions be tougher. As Secretary Goldberg left Manhattan, the militant National Maritime Union was leading 3,500 nonrailroad tuggers in separate negotiations and holding out for wage boosts of 33¼%. The tuggers threatened to call a far greater strike this week, stop most of the fuel shipments into the city and prevent most ocean liners from docking at the world's busiest port...
Buck Dumaine insists that McGinnis is wrong when he says the New Haven runs at a loss. In a proxy statement fired off this week, he argued that every railroad counts nonrailroad revenues in its profits. The fact is that the road's total revenues have increased steadily in the last five years to $165 million in 1953. Net income was equal to $12.16 a preferred share, with $7 disbursed in preferred dividends. The New Haven's debt has been cut by more than $50 million through retiring securities and the purchase of bonds, thus cutting interest charges...
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