Word: railway
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...orders for machine tools registered a sharp 49.9% rise in March over February's figure of $46 million. The increase underscored a McGraw-Hill survey indicating that industry had raised its sights on capital equipment expenditures for the year to $35.4 billion, only 1% less than in 1960. Railway freight-car loadings jumped for the fourth straight week. March retail sales soared to a record high of nearly $18 billion, up 2.6% over the previous record, set in March 1960, while the cost-of-living index held steady for the fifth month...
Most of the Soviet aid will go for more or less worthy development projects, including preliminary work on a railway line and help in exploiting Mali's largely unexplored deposits of iron, gold and phosphates. But, as usual, the Soviet aid package includes one project that is purely for show: a football stadium for Mali's isolated capital of Bamako...
...went 17-page proxy solicitations from Clint Murchison Jr. and his brother John, in an open bid for control of Alleghany. The Murchisons charged that Alleghany Chairman Allan P. Kirby has let Alleghany's investment policy stagnate (except for an unsuccessful stock-buying race with the Chesapeake & Ohio Railway to gain control of the Baltimore & Ohio). They alleged further that Kirby has shown no leadership, and surrounded himself with men inexperienced in everything but saying yes to Kirby...
...intrinsic comedy been so unforced. Michael had-secretly accumulated a weird library from bookstore trash boxes, and its contents filled his mind, but nothing fitted anything he had to do in the world. Thus, when fired from his first good job as the world's worst railway freight clerk, he spoke that night in his self-taught Gaelic to a Gaelic League meeting on the character of Goethe. In short, a hopeless case. If ever a man became a writer because there was nothing else in the world he could do, it was Frank O'Connor...
Merger plans were ordered drafted last week by the directors of two other big railroads: the Chicago & North Western Railway and the Chicago, Milwaukee, St. Paul & Pacific. If merged, the two lines would serve 15 states, create the second longest U.S. railroad, with 21,325 miles of track, and save an estimated $40 million in joint operating economies. But a group of Milwaukee Road directors led by Executive Committee Chairman J. Patrick Lannan oppose the terms of the proposed stock swap as too little for Milwaukee Road stockholders. They would get one new share for each owned, while...