Word: railroads
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Dates: during 1950-1959
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...Interstate Commerce Commission's Chairman, Hugh Cross (a Republican originally appointed to the ICC by Harry Truman), resigned after a Senate committee heard that he had approached railroad companies (over which the ICC has jurisdiction) on behalf of a friend seeking an inter-station transfer contract in Chicago...
...nothing tangible to complain of. The threat remained only a threat until ships had been stopped or traffic otherwise interfered with. In fact, Nasser has always possessed the physical capability of closing the canal ever since the British evacuated the Canal Zone (he has only to swing shut the railroad bridge), and would still have the capability even after agreeing to any arrangement for international operation short of reoccupation of the Canal Zone in its entirety...
Freight Shrinker. A freight-car Shrinker to cut cargo damage in railroad cars (last year American railroads paid more than $98 million in claims) was announced by New York Inventor Glenn F. Wilkes. The Shrinker is a movable steel bulkhead at each end of a freight car. As the cargo starts to shift in transit, the bulkhead automatically forces it back in place through a system of cogs and springs...
Died. The Marquis Jason Boniface de Castellane, 53, quiet-living, inconspicuous son of Railroad Heiress Anna Gould (now the Duchesse de Talleyrand-Perigord) and her first husband, the late Marquis Boni de Castellane; in Salernes, France...
...plans over into 1957. But far from canceling major expansion plans, many businessmen argued that any possible savings in loan costs in the future would be more than offset by higher-priced labor and materials if they postponed construction. Said Arthur Longini, chief economist for the Chicago & Eastern Illinois Railroad: "We're going right ahead borrowing for capital improvement. We feel that this economy has a built-in inflation. There's too much opportunity for profit right now; the cost of waiting is prohibitive...