Word: railroads
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Dates: during 1940-1949
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...Pennsylvania Railroad Co.'s tart-tongued president, Martin Withington Clement, was once asked by the Interstate Commerce Commission why he let Manhattan's Kuhn, Loeb & Co. underwrite a Pennsy bond issue. Snapped he: "I deal with whom I please...
Last week, the ICC drastically curbed the right of Pennsylvania's Clement -and all other U.S. railroaders - to deal where they pleased. In a historic, 26,000-word report that wound up a 20-year-old fight, the ICC ordered: after June 30, railroad bond issues above $1,000,000 must be sold through competitive bidding...
...come from peppery Cyrus Eaton, boss of Cleveland's Otis & Co., and from publicity-shy, dapper Harold Stuart of Chicago's Halsey, Stuart & Co. Champions of competitive bidding from way back, they cried that the traditional system of financing through private negotiation be tween underwriters and railroads had al lowed Kuhn, Loeb and Manhattan's Morgan, Stanley and Co. to monopolize U.S. railroad financing. This, they complained, not only cost the railroads plenty of cash in higher underwriting fees, but throttled Middle Western underwriters. Eaton and Stuart lost the Pennsy financing to Kuhn, Loeb, but forced...
Having laid the little-lamented assistant for disbursing to rest along with Flattop, the class is now busily engaged in perusing railroad time tables for the trip home, and seeking apartments for the new crop of blushing brides expected to arrive circa 4 June. All is proof that time runs quick as Ohliger and W. T. Johnson will agree...
...taking .belated part. The country seethed with hatred for Martinez. Rich and poor all loathed and feared him. The people were on strike. They refused to buy Government lottery tickets, go to Government movie theaters. Druggists, doctors, lawyers, justices of the peace, hundreds of Government employes declined to work. Railroad workers struck. The schools, the National University were closed; both students and staff stayed away. Priests supported the movement. A mass for the souls of the executed drew huge crowds, was stopped by police...