Word: railroader
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Dates: during 1950-1959
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Included in the Russian shopping list were 110 small ships (cargo vessels, tankers and whalers), 110 power stations, 150 steam boilers, two floating docks, $84 million worth of machine tools, railroad equipment. Many of the items were strategic, i.e., useful to a Soviet war economy...
After rising almost steadily for four weeks, the stock market last week broke through the postwar bull-market high. The Dow-Jones industrials average hit 294.03 highest point since April 17, 1930. Railroad stocks, along with oils, were among the leaders. Even motors, long the ugly ducklings of the list, were beginning to show a few swanlike pin feathers...
...battle for control of the New Haven Railroad at the annual meeting April 14 is shaping up. Seven directors who refused last week to run on the management's, slate for re-election will run on an opposition ticket. (Four had been put on the board last year to avoid a similar wrangle.) Principal contestants: President Frederic C. Dumaine Jr., who favors building up the road by plowing back earnings, and Manhattan Securities Dealer Patrick B. McGinnis, who wants accumulated preferred dividends paid up and common dividends renewed...
...Santa Fe Railroad, one of the last big holdouts against the union shop, won an important round last week in its ten-month battle (TIME, Feb. 1) against 16 A.F.L. non-operating unions. In Amarillo, District Judge E. C. Nelson ruled in favor of 13 non-union Santa Fe workers who brought suit charging that proposed union-shop contracts were illegal under Texas' "right to work" act, even though they are specifically permitted by a 1951 amendment to the National Railway Labor Act. Judge Nelson handed down a permanent injunction forbidding union-shop contracts between the Santa...
Board of Trade officials explained that only non-strategic materials would go to the Russians. Items like fishing trawlers, and industrial and railroad equipment were listed to show that the exchange would not help the Soviet war effort. But importance of these goods for war production seems beyond dispute. And in a larger sense, the "non-strategic trade" idea itself is just a convenient fiction. Every fishing trawler Britons make for Russia releases Communist manpower for other, deadlier tasks. And on the other side of the coin, every product the West denies Russia means an added strain on the Soviet...