Word: railroads
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Dates: during 1930-1939
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...After his fact-finding board on railroad wages reported to him that a pay-cut at this time was unjustified, the President saw railroad executives, promised to support railroad legislation to find other means of saving the roads from ruin...
...social, educational accomplishments. Realizing that national prestige paid dividends. President Atatürk, with the driving force of a dictator, built up a modern, mechanized army. That made Turkey sought after by Germany, France and England, as a powerful Near Eastern ally. His Government doubled the country's railroad mileage, started sugar and textile factories, coal and iron industries to make Turkey more self-sufficient. He ordered electrification and reforestation programs and began to build a merchant marine. His policy of "Turkey for the Turks'' largely eliminated the foreign capital, dominant during the Sultans' time...
...Harvard Club of Boston will run two special trains to New Haven on November 19, for the Yale football game. Both trains will leave South Station, Boston, via the Boston & Albany Railroad at 8 o'clock, and will stop at Newtonville, Framingham, and Worcester. They will leave New Haven for the return trip at 5.30 in the afternoon...
This sort of forthright reorganization is almost unprecedented in U. S. railroad history. Before Depression I railroads went through reorganization much as a snake sheds its skin, with bondholders forced to split the loss with stockholders and with railroads often left in just as bad a fix when the shedding was over. After the Federal Bankruptcy Act was amended in 1933 to give ICC power to supervise or rewrite reorganization plans and to allow roads to continue operating with their debts in a sort of suspended animation (Section 77), there came a complete cessation of reorganizations. For nearly five years...
Last summer, as talk of rewriting Section 77 grew, ICC put on the pressure. Western Pacific was the fourth Class I railroad shoved through the wringer in four months.* Giving a clear indication of its temper, ICC last week declared: "If . . . reorganization is to be successful, the capital structure of the reorganized company must be realistically related to its actual earning power...