Word: norfolkers
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...railroad merger applications before the Interstate Commerce Commission have been so closely watched as the Norfolk & Western's petition to take over the Nickel Plate, the Wabash and three connecting roads. After more than two years of study, the ICC last week voted 10 to 1 to give its go-ahead to the merger. With that decision, the way was opened for the creation of a 7,450-mile freight superline whose routes would reach west to Missouri and north into Canada, save the two lines $27 million in costs each year. Railroaders saw in the ICC decision...
...manner of the ICC's approval contained the clue. Before the merger is allowed, ruled the commission, the $352 million of Norfolk & Western and Wabash stocks bought up by the Pennsylvania Railroad since the late 19th century must be sold-to make sure that the Pennsy holds no control over the merged roads. Often the difference between profit and loss for the Pennsy, the Norfolk & Western stock paid it $14.5 million last year in dividends, is often used as collateral on new investments. But the Pennsy's possession of the stock has been one of the roadblocks...
...gimmicks: some have opened soda fountains in their stores, and the Colonial chain offers chairs and tables for weary shoppers to rest beside the soft-drink dispensers. Stores are also staying open longer. Kroger two weeks ago started doing business on Sundays in Ohio, and Grand Union in Norfolk stays open 24 hours daily to accommodate the round-the-clock shipyard shifts...
...Norfolk, the bridge-tunnel is only a spectacular addition to its redevelopment program, which will be complete in another five years. Already the results are impressive. More than 181 acres of slums, amounting to roughly 85% of Norfolk's whole downtown area, have been knocked down and replaced with some $42 million worth of new buildings. Last week plans for a $100 million medical center were announced. A grassed and tree-lined pedestrian mall has replaced Main Street. The world's largest coal-loading dock has been built by the Norfolk and Western Railroad, and savings and loan...
With 2,500,000 vehicles using the new bridge-tunnel every year, booming Norfolk sees only progress ahead. "The sheer beauty," crooned the local Virginian-Pilot, "is a shining demonstration of the theme that form follows function, undulating up and down as with the waves of the bay it traverses...