Word: reporter
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Dates: during 1940-1949
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TIME, as ever, ready with innuendo and sarcasm, could only find ridicule and malice to report what should have been a happy augury for the future of our Empire...
This time Railroader Robert R. Young, who likes to dish it out, had to take it. In a report last week, Interstate Commerce Commission Examiner Charles Edward Boles thumbed down Young's plea to join the board of New York Central Railroad Co., and, in effect, control it by voting his 6% holding in Central stock...
Examiner Boles, usually a mild-mannered man, looked hard at Young's argument for a close alliance between the Central and his Chesapeake & Ohio Railway Co. In his report he called it a jumble of "opinions, prophecies, speculation and . . . pure fancy." Young's purchase of Central stock with C. & O. funds, he added, was to satisfy "his personal ambition." It showed "a willingness to take great risks with the company's funds"; so far, it had let C. & 0. in for a paper loss of $2,400,000. The stock bought at $18.98 a share...
...Boles report was not final: ICC could reject it if it chose. It had rejected a Boles report in 1944, when he recommended against Alleghany Corp. control of C. & 0. Even some of Young's enemies privately thought ICC might disregard this Boles report. Young was still confident that by putting public pressure on ICC, he would finally get control of the Central...
...Council does not see fit to invalidate the whole Smoker Committee election, it should at least alter the election methods which permitted such a staggering irregularity. A well thought out and practical election procedure is already in the hands of the Council in the form of the report of its own committee. How long before that report is adopted and put into practice...