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Three years ago Chalk bought Washington's well-hated, strike-bound transit system from Louis Wolfson, who had milked it of millions. Chalk put up only $500,000 of his own money, borrowed $9,100,000, plus a $3,900,000 mortgage, to take over a company with a book value of $27 million. He started out by painting Washington's buses glaring green and coral, installed shapely stewardesses on streetcars, last summer rolled out 100 new buses (67 of them air-conditioned) in a downtown parade with four bands, bathing beauties, clowns, calypso dancers. Hoopla-and hustling...
...smelly-and they are running $17 million in the red this year. Last week a private operator offered to relieve New York of this financial headache, reportedly was ready to pay upwards of $500 million in cash and bonds-give or take a few million-for the $2.1 billion transit system. Said O.(for Oscar) Roy Chalk, 51, able admiral of D.C. Transit System, the national capital's surface lines: "I'd like to prove that private enterprise, with $1, can go 50 times the distance that public enterprise...
...America, flew charter trips from Johannesburg to Jerusalem. It grew so strong that in 1957 it won a regular U.S.-Puerto Rico route, became the first nonsked passenger airline in 20 years to win scheduled status (TIME, Dec. 2, 1957). Last year Trans Carib (including its major subsidiary, D.C. Transit) earned more than $1,000,000, most of it for Chalk and his wife, who own 70% of the stock...
...York transit deal would be a big gamble for Roy Chalk. His offer has been received cautiously by most of the city brass except Transit Boss Charles Patterson, who favors it. Last week Chalk relaxed his terms by pledging to keep the 15? subway fare so long as the city guarantees him an after-tax profit of 6½%. As usual, he was mum about who was putting up the bulk of his bankroll. Grinned O. Roy Chalk: "I'm a poor man -never have more than 50 bucks with me. The big thing is, I know where...
...Metropolitan Transit. Authority is not presently considering disposal of its Boylston St. caryards or extension of its Cambridge subway, Anthony D. Pompeo,, chairman of the MTA trustees, told the City Council yesterday...