Word: railroader
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Dates: during 1970-1979
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Borrowing has never been a problem for Lance. Charles Presley, chairman of the Georgia Railroad Bank and Trust Co. and a longtime friend, admits that he loaned Lance $651,000 in 1976 in a deal that was "somewhat casual." As in some other Lance loans, there was no maturity date set; as long as he met interest payments there was no need to repay the principal. And being a banker, Lance got favorable interest rates on his loans; probably about...
Taking Risks. Other Lance debts include: the $651,000 Georgia Railroad Bank & Trust Co. loan used to buy shares in another Georgia bank; $443,466 from the United American Bank of Knoxville, used to buy 26,000 shares in his bank; $240,000 from Roswell Bank of Georgia, used for Lance's unsuccessful campaign for Governor of Georgia in 1974; $185,000 from C & S National Bank in Atlanta, used to buy real estate. He also owes $340,000 on a mortgage on his Atlanta house and 8½ acres of land, which he valued...
Mengistu also faces the possibility of war with Somalia for control of the French Territory of the Afars and the Issas, whose 215,000 citizens last week voted for independence.* Mengistu fears that Somalia will encourage the territory's Somali-speaking Issa majority to cut the railroad linking Addis Ababa with the port of Djibouti, through which moves more than half of Ethiopia's foreign trade. Unless he can work out a deal with Somalia's President, Muhamed Siad Barre, Ethiopia may have yet another combat zone on its frontiers when the territory becomes the Republic...
...RAILROADS that haul coal would be in for a windfall. Hays T. Watkins, chairman of the Chessie System, the nation's largest coal hauler, expects 100 new mines to open along the line's routes in the next five years. That would add 33 million tons a year to the system's coal freight, 50% more than its present volume. All that will require more coal cars and enhance the revenues of railroad-equipment manufacturers like Pullman...
Stuart Peskoe '76, a first-year student at the GSAS and one of the authors of the proposals, said yesterday the students who proposed the reforms "are not trying to railroad anything through...