Word: rails
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Dates: during 1960-1969
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NEWS that the Supreme Court had approved the merger of the Pennsylvania and New York Central railroads was warmly received in the editorial offices of TIME. Nearly half the staffers commute by rail, and many of them brought questions to Associate Editor Spencer Davidson, who was writing the cover story. Did the merger mean that they would soon be riding in newer, cleaner cars? Would the schedules be more reliable? Conductors less surly...
...commuter himself on the Long Island Rail Road, Davidson listened patiently to quite a few gripes and some tall tales fresh from trackside, then told his colleagues that he was not overly optimistic. Little in the research filed by TIME reporters across the country indicated that complaining commuters were in for much immediate relief. In fact, Washington Correspondent Juan Cameron, who interviewed Stuart Saunders, discovered that the busy boss of the country's biggest railroad seldom rides by train himself. He prefers autos or planes, and Cameron suspects he knows the reason. He took a trip...
...from a track-side tower; no warning whistle echoed down the line. But no trainman missed the signal. When the Supreme Court gave its approval last week to the merger of the Pennsylvania and New York Central railroads, it was clearing the track for the nation's entire rail system. It was giving railroad management permission to highball into the future...
...Seaboard Air Line Railroad have already merged into the Seaboard Coast Line and expect to realize annual savings of $38.7 million. Meanwhile the Southern Railway, bothered by this increase in competition, has been shopping around for a partner. ¶In the West, where mergers are less urgent because rail routes are longer, highways fewer and profits greater, one small railroad is being assiduously courted. Both the Southern Pacific and the Santa Fe have attempted to acquire the Western Pacific, if only because its profits are steady and its route includes the easiest pass through the Sierra Nevada. So far, Western...
...Buckeye pipeline, which threads for 8,000 miles through eight states in the East and South. Today, Buckeye ownership makes the railroad the principal supplier of jet fuel to Kennedy International Airport through a pipeline laid under New York harbor. Already well-stocked with real estate through its rail-related holdings, the Pennsy spent some $80 million to get more. It bought into Arvida Corp., Great Southwest Corp. and Macco Realty Co., which deal in real estate in California, Texas and Florida. Through its subsidiaries, the Pennsy is now developing Rancho California, an 87,500-acre residential project near...