Word: railways
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...rambunctious newcomer among Midwest railroaders is Chicago Lawyer Ben W. Heineman, 42. Less than two years ago, he won a proxy fight for control of the Minneapolis & St. Louis Railway, has since boosted earnings per share 14% to $2.35. He is also trying to outbid the Santa Fe and the Pennsylvania for little Toledo, Peoria & Western Railroad, a main bypass around Chicago for transcontinental freight. Last week Heineman announced that he is after a much bigger prize: the long (7,870 miles) and longtime ailing Chicago & North Western Railway, which runs from Chicago to Lander...
...Insurance Co.'s President Morgan B. Brainard Sr., who resigned from the board twelve months ago and unloaded substantial holdings of New Haven stock held by his company. Major stockholders, looking for a new president, tried to hire Werter S. Hackworth, president of the Nashville, Chattanooga & St. Louis Railway. Snorted Hackworth: "Too many commuters and too many headaches...
Died. Archer Milton Huntington, 85, multimillionaire founder, with his family, of 13 U.S. museums, including Newport News's Mariners' Museum, Manhattan's Hispanic Society, son of Collis P. H. Huntington, builder of the Southern Pacific railway; in Bethel, Conn...
...years as King Ibn Saud's adviser. Recently in the London Sunday Times Philby delivered a harsh judgment on what he called "the Scandal of Saudi Arabia." A few roads, waterworks at Riyadh, Mecca and other places, some hospitals, a few public buildings, and the 350-mile railway that Arabian American Oil Co. built to connect Saud's capital with the Persian Gulf are about the only constructive achievements that he can find to list to the regime's credit. All the rest of the oil wealth, a billion dollars or more, has gone down the drain...
Died. Major General (ret.) Carl R. Gray, 66, onetime (1947-53) Veterans Administration chief, commander of allied railways in the European theater in World War II, vice president of the Chicago & Northwestern Railway (1946-48); of a circulatory ailment; in St. Paul, Minn...