Word: rail
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Dates: during 1960-1969
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...occasion, President Johnson has attended Sunday morning worship services at St. Mark's Episcopal Church in Washington, where, like most of the congregation, he goes to the altar rail to receive Holy Communion. But Lyndon Johnson is not an Episcopalian (although his wife and daughters are), and a confirmation rubric of the book of Common Prayer states that "none be admitted to the Holy Communion until such time as he be confirmed, or be ready and desirous to be confirmed." Rev. Albert du Bois, executive director of the stiffly Anglo-Catholic American Church Union, questions whether Johnson is entitled...
People who play with trains have often been hurt, especially people who invest in railroad stocks. The Dow-Jones index of 20 railroad stocks needed a full 35 years to climb back to its 1929 high. But since it passed that mark last February, the rail average has been moving upward, reached an alltime peak of 208.95 three weeks...
Last week, as the stock market generally fell in a long-anticipated correction, the rail average did better than the industrials, closed...
Making Money. From a postwar low of $7.7 billion in 1961, revenues of the nation's 102 Class I railroads rose to $9.6 billion last year, are likely to top $10 billion in 1964. Helped by liberal depreciation schedules and favorable tax rulings, rail profits last year achieved a six-year high of $651 million, should climb at least another $50 million this year, if only because the Supreme Court's ruling against featherbedding will lower labor costs. Traffic is also rising. So far this year, the roads have carried 5% more freight than in the same period...
...greatest barrier to a Pennsy-Central merger has been labor's objection. Much of the barrier was removed last month, when the chiefs of 17 rail unions signed a job-protection deal with Pennsy Chairman Stuart Saunders and New York Central President Alfred Perlman. Terms: if the merger is consummated, the labor force cannot be reduced by more than 5% each year. An ICC hearing examiner will make a recommendation on the merger by year's end, and railroaders are hopeful that the ICC's eleven commissioners will give the two roads a go-ahead...