Word: railroader
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Dates: during 1950-1959
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They play soccer at Penn on a narrow, choppy field out behind the university steam plant, among various factories and under the main railroad artery to Philadelphia. There, in the worst playing condition imaginable, the varsity soccer squad staked its claim to the Ivy League title by defeating Penn, 2 to 0, last Saturday...
...Long live martial law!" cried the peasants at village after village on the whistle-stop tour. Tall, strapping General Mohammed Ayub Khan, 52, dressed in open shirt and slacks, would lean from the doorway of his private railroad car and call: "How are you? How are the crops?" The village leader answered: "We are in perfect peace through your kindness." Others crowded round to beg Ayub to save them from a distasteful return of "democracy and politicians...
Morgan won control of some 50% of the railroad mileage of the U.S., merged the roads so efficiently that they were soon earning $300 million a year. He helped put together such later industrial giants as General Electric, merged several companies to form U.S. Steel, with the steel works of Andrew Carnegie as its nucleus. When Carnegie scrawled the price he wanted on a scrap of paper ($447 million), Morgan characteristically glanced at it briefly, snapped: "I accept." At one time Morgan controlled six banks and trust companies, three life insurance companies, ten railroads and a cluster of huge corporations...
While Government and industry spokesmen worried on about how to solve the crucial problems of the nation's railroads, the Interstate Commerce Commission last week took some levelheaded action. By unanimous vote, ICC approved the merger of two major Eastern seaboard soft-coal carriers, Norfolk & Western and the Virginian, allowed them to form a single system with assets of $970 million and 2,746 miles of track serving six states (see map). It was the biggest consolidation of two independent lines since ICC was formed in 1887, and one that President Stuart T. Saunders, who remains as boss...
Though both lines, with records of solid profits all through the railroad-busting Depression, earned money in 1958 from the coal regions of Virginia and West Virginia ($11.6 million for the Virginian; $43.5 million for the N. & W.), they duplicated one another to the point where the two lines were not, in ICC's words, "in the public interest." Merged, they will economize by consolidating managements and by using the Virginian's better tracks eastward over the Allegheny and Blue Ridge Mountains. The Virginian's coal piers and marshaling yard adjacent to the Norfolk Navy Base will...