Word: railways
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Unscrambled Routes. A new federal agency, the U.S. Railway Association, has tailored ConRail to make the best of this difficult situation. U.S.R.A. planners first unscrambled a spaghetti-like jumble of freight routes to find the combination with the most profit potential. That meant abandoning 3,000 track miles completely and operating another 3,000 miles of lightly used track only with Government subsidies. Next the planners got Congress to approve $2.1 billion in federal loans; that money, with another $4.7 billion in expected revenues, will be used over the next decade to upgrade tracks and buy new trains. Because ConRail...
...troops under arms, comprising regulars, paramilitary police and reservists, will probably have little trouble containing the guerrilla insurgency. But Rhodesia's diplomatic and economic isolation as a result of the Mozambique action will be keenly-and immediately-felt. The loss of an outlet to the Indian Ocean via railway links to the Mozambique ports of Beira and Maputo immensely complicates Salisbury's trade with the outside world. Nearly 40% of Rhodesia's exports and imports moved along those rail lines. Alternate routes through South Africa are already congested...
Last week Canada Southern Railway Co., a Penn Central subsidiary, declared a $60 dividend-larger even than the $41 price of the stock itself-apparently to keep a $9 million cash reserve fund out of the hands of Conrail, the Government corporation that takes over the Penn Central and six other bankrupt railroads on April 1. A company spokesman said the timing of the dividend was coincidental but implied that Conrail was entitled only to the railroad's physical assets and not the cash reserve fund. The payout faces a certain court challenge; Conrail had made it clear that...
...Luanda government last week made friendly overtures to its opponents' key backers. In private messages sent to Zambia and ZaïreĤ, Neto said that in exchange for recognition, he would allow his two neighbors to resume transport of their crucial copper exports over the Benguela Railway...
...civilian casualties in an armed confrontation. A day later, Luanda radio announced the "glorious capture" of the key Atlantic ports of Lobito and Benguela, which with the capture of the east central Angolan town of Luso late in the week gave the M.P.L.A. full control of the strategic Benguela Railway, which spans Angola from the Atlantic to the Zaïre border. The M.P.L.A. then drove eastward to take Silva Porto (now renamed Bie), site of UNlTA's military headquarters. Mean while, M.P.L.A. units in the north easily defeated a motley force of mercenaries (see following story) and F.N.L.A...