Word: railroads
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Dates: during 1930-1939
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...bitter night sessions to disembowel Franklin Roosevelt's "Great White Rabbit of 1939." The Republocratic coalition, working as smoothly as surgeons, cut open the $2,490,000,000 Spend-Lend Bill and extracted $500,000,000 for toll roads, tunnels and bridges, $350,000,000 for RFC railroad equipment loans, knifed $25,000,000 from a proposed increase in the loan authorization of the Export-Import Bank, then passed it, sending the emaciated Rabbit to the House. The bill, once totaling $3,860,000,000, now stood at $1,615,000,000. California's bulky oldtimer, Hiram Johnson...
...wooded Meudon and St. Cloud hills where Americans have their villas and restaurants serve cool drinks to heat-weary Parisians. On Mont Valérien, westward across the Seine from the Bois de Boulogne, is an impressive layout of long-barreled guns and searchlights with independent generators. Large railroad station signs, a give-away to low-flying raiders, have been removed. Every Frenchman in Paris has his gas mask, and he is subject to fine if he uses its metal container to carry his fishing tackle. Seven of the main bridges leading across the Seine are being doubled and tripled...
...years competitive bidding by underwriters has been mandatory under ICC regulations for new issues of railroad equipment trust securities. For many more years than that it has been routine in municipal financing. Meanwhile, a growing number of private corporations have cut ties with their traditional banking houses and put new issues on the block, or placed them privately, often getting better prices for their securities...
Riding the competitive bidding wave today is red-faced Board Chairman Robert Ralph Young of Allegheny Corp., who has been in the middle of a hectic three-year fight to get control of Allegheny's railroad substructures, notably prosperous Chesapeake & Ohio R. R. Bob Young believes that at every turn Morgan interests blocked his way. One of his retaliations has been to get in the way of Morgan Stanley & Co. every time it goes after a railroad securities issue...
...issue. Last February, by the same means, Mr. Young forced competition for a $12,000,000 Cincinnati Union Terminal issue; Morgan Stanley withdrew again, and the Terminal got $45,000 extra for its bonds. Last week, after a barrage of letters, wires, phone calls, the directors of Terminal Railroad Association of St. Louis voted for competition on another $7,000,000 bond issue. Again Morgan Stanley, for whom the issue was originally intended, stepped out, and Robert Young cut another notch...