Word: seaboarders
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...next thrust himself into the picture with a plan for a semicircular belt system connecting New England and Baltimore, to distribute Midwestern products to seaboard. This again stepped on too many toes. He was ordered to sell his interest in the Wabash (now in receivership) and Lehigh Valley, which he did, to the Pennsylvania, at $23,000,000 clear profit...
...ends of the U. S. Atlantic seaboard are rising, while the middle falls. Portland, Me. and Charleston. S. C. gain 7 to 15 in. elevation in a century. Boston. New York, Atlantic City, Philadelphia and Baltimore subside 3.5 to 11.5 in. a century. Key West seems stationary. The rises & falls seem to be rhythmic. Boston, now sinking, was on the up between 1847 and 1876, with most of the elevation gained between 1857 & 1858. The sudden gain, surmises Dr. William Fitch Cheney Jr. (Connecticut Agricultural College), was related to the Naples earthquake of 1857. Charleston had an earthquake...
...Avco's quiet negotiations to acquire the assets of another big holding company, North American Aviation Inc. To pay for the property, Avco was to issue nearly 2,000,000 new shares of stock. Chief among North American's assets is a transport system covering the Atlantic seaboard below New York, joining Avco's transcontinental line at Atlanta and meeting its Boston-Montreal sector at Newark. Integrated, the network would blanket the East and South. But whatever the merits of the deal, its effect would be the reduction of the Cord share in total Avco stock from...
...last week were treated to one of those dramatic surprises that their industry so often produces, so dearly loves. Gasoline prices had dropped about 3? along the Atlantic seaboard. No profit remained in refining. It looked as if crude prices were bound to fall (TIME, Oct. 3). Then the Texas Railroad Commission ordered a 13% reduction in the State's output. It seemed that a price cut could be averted for a while...
Atlantic shipping lines, Seaboard Railways and unfriendly shippers protested bitterly to the Shipping Board and the Interstate Commerce Commission that the Seatrain, a floating railroad yard with a mile of track below-deck to hold 100 loaded freight cars, was damagingly unfair competition. Seatrain New York has a speed of 16 knots, can carry freight faster than any coastwise freighter, can lighter it from Hoboken to New Orleans in six days for half the rail fare. The Shipping Board handed down a last-minute decision while Seatrain New York was fidgeting in New York Harbor: Seatrain Lines Inc. will...