Word: railroader
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Dates: during 1950-1959
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...extra cars will be added to the regular holiday runs of the New Haven Railroad even in the event of a strike or worse weather conditions. A representative admitted "the situation is terrible" and could become a "holocaust" if traffic is diverted from the airlines to the N.Y.N.H. & H. R.R. He claimed costs and equipment do not allow an increase in cars even if desperately needed...
...seemed as if the only friend the hapless suburban commuter had last week was a bold, brainy lawyer who started in the railroad business a mere four years ago. The man: Ben Walter Heineman, 44, chairman of the 9,096-mile Chicago & North Western Railway, which inaugurated a new commuter plan that could well,serve as a guide to troubled roads across the U.S. They sorely needed help. Last week the Lehigh Valley Railroad moaned that it was going broke from its $4,000-$5,000,000-a-year passenger deficit in commuter-heavy New York, New Jersey and Pennsylvania...
SOME veterans of the tradition-bound railroad industry are wagering that Ben Heineman's commuter plan will fall flat-and a few are quietly hoping it will, since Heineman is not one of their up-from-the-roundhouse breed. The son of a wealthy Wausau, Wis. lumberman who went broke in the Depression, Heineman studied law at Northwestern University ('36), set up practice in Chicago. In 1954, invited in by dissident investors, he won an acrimonious proxy war for control of the little Minneapolis & St. Louis Railway, boosted earnings fast. In 1956, with one-third of its stock...
Heineman's fresh ideas and heavy investments have just begun to pay in 1958, a bad year for many another railroad. In the first six months the North Western lost $2,322,000. But then the North Western turned around, brought in ten-month earnings of $3,440,000-despite the $2,000,000-a-year commuter deficit. So confident is Heineman that his new commuter plan will turn red ink to black that he has ordered 36 new, air-conditioned, 161-passenger commuter coaches at a cost of $5,600,000. Says Ben Heineman: "If we can provide...
Just as sharply as it had fallen, the market rebounded at midweek, gained back about 50% of its losses for the week. Steel, which had suffered heavy losses in the dip, sprang back at more bullish estimates of steel production in the weeks ahead. Better October earnings for railroads snapped back railroad stocks. Pennsylvania reported $4,026,319 in October earnings, highest for any month this year and more than twice last October's earnings; New York Central had its best month since December 1956, with earnings of $4,674,110. At week's end the market...