Word: railroads
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Dates: during 1950-1959
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...Richardson made with Robert R. Young last year. With the help of a $7,500,000 loan from Young's Alleghany Corp., the two Texas wheeler-dealers bought 800,000 shares of Central stock, then voted them to help Young win his proxy fight to take over the railroad (TIME, June 21, 1954). Last week, in a New York Supreme Court hearing brought by disgruntled Alleghany .stockholders on a charge that the company's funds had been misused, some new and conflicting details came to light on the drama and its players...
...slick maneuver to help Young win the Central. In fact, said Murchison, he had even done his best to see if Harold S. Vanderbilt, then a Central director bitterly opposed to Young, had first wanted to buy the 800,000 shares owned by the Chesapeake & Ohio Railroad. Drawled...
...year reign will end when his term expires on Jan. 1. Binford banned Ingrid Bergman films after she married Roberto Rosselini, all Chaplin movies, any picture he thought had too much sex in it, almost any film portraying Negroes in other than servile roles, any movie depicting a railroad robber (he was once on a train that was robbed). "The way it looks, there may not be any censor boards soon," he said morosely. "We try to do what the public demands, and the public is getting more liberal all the time...
Pretty Picture. The news was just as good in railroads, steel, aluminum, heavy manufacturing. After slim pickings in 1954, the Pennsylvania Railroad announced the best profit in ten years: President James M. Symes totaled the nine-month revenue at $690 million, with a $32 million net that was a whopping 172% better than 1954, Crucible Steel did even better in the percentage race, with nine-month sales of $172 million, a $9,000,000 profit, 434% higher than last year's poor earnings. Eastman Kodak President Albert K. Chapman showed a pretty picture to stockholders: he reported new highs...
Died. George A. Ball, 92, financier, philanthropist, last of five brothers, who built one of the great U.S. fortunes on the Mason jar and the purchase in 1935 of controlling stock in the Van Sweringen railroad empire (23,000 miles, including the Chesapeake & Ohio and Missouri Pacific) for "about the price of two first-class locomotives," which he sold for $6,375,000 in 1937 to a group headed by the New York Central's Robert Young; in Muncie...