Word: railroads
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Dates: during 1920-1929
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Died. William Charles Adamson, 74, onetime member of the U. S. Customs Court in Manhattan, onetime U. S. Representative from Georgia, author of the Eight Hour Railroad Bill;? of pneumonia; in Manhattan...
Thus there grew to be five factors in the eastern railroad situation. Rules require that they or any other group take weak railroads into their systems that compete in their business, that they avoid injuring each other's business, above all that they serve the public equitably. The Interstate Commerce Commission is their moderator, referee, judge...
Such stipulations put great railroad executives to tussling like small boys. The eastern railroad situation became a melee where each one of the big participants tried to do at least three things at once?grab as many prosperous small railroads as possible, shove his opponent away from good roads towards poor ones, avoid kicking the I. C. C. (i.e., the public's interests). The railroads soon recognized that such promiscuous buffeting was unprofitable. For one thing, the turmoil made their customers aware that not yet were all great corporations "good corporations," like Judge Gary's U. S. Steel Corp...
...Pennsylvania (William Wallace Atterbury, president) had the biggest, best-integrated, and most strategically located system of the district. It had control of the Wabash and almost half the stock of the Lehigh Valley. Most significantly it was in process of establishing itself in the public mind as the eastern railroad. This it was doing by institutional advertising and by pushing new railroad features, as electrification, air-rail transportation...
...York Central (Patrick Edward Crowley, president) had done those promotional things, also. Only last week did there come intimation (not announcement) that the New York Central would electrify its lines all the way from Manhattan to Buffalo. In railroad alignment the road had stood fairly unmoved. Its major action was to take one-third the stock of the Wheeling & Lake Erie from the Van Sweringens, who bought the road from the Rockefellers. They retained one-third