Word: virginian
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...record as favoring railroad consolidations in principle-as the best way to meet the powerful competition of trucks for freight, and autos and planes for passengers. Costs can be cut by eliminating duplicate facilities. Last fall the ICC approved a merger of the Norfolk & Western and the Virginian railroads; last March a commission examiner recommended a merger plan for the Erie and Lackawanna roads. Similarly, the Civil Aeronautics Board is moving toward the view that mergers, not subsidies or new routes, are the best way for the airlines industry to meet the formidable problems of new jet-age competition. Both...
...Virginian." The needs of cotton, his father's health, and melodrama send Allan at twelve to live among his mother's kin on Boston's Beacon Street. Are his principles as a gallant son of the South in danger? They are, and soon there is the fateful passage: "Uncle William, you must help me. I have been reading Uncle Tom's Cabin." Yankee Uncle William promptly takes young Allan to an abolitionist meeting, where Allan learns from an escaped slave: "Yes, Virginian, there is a Simon Legree...
While Government and industry spokesmen worried on about how to solve the crucial problems of the nation's railroads, the Interstate Commerce Commission last week took some levelheaded action. By unanimous vote, ICC approved the merger of two major Eastern seaboard soft-coal carriers, Norfolk & Western and the Virginian, allowed them to form a single system with assets of $970 million and 2,746 miles of track serving six states (see map). It was the biggest consolidation of two independent lines since ICC was formed in 1887, and one that President Stuart T. Saunders, who remains as boss...
Though both lines, with records of solid profits all through the railroad-busting Depression, earned money in 1958 from the coal regions of Virginia and West Virginia ($11.6 million for the Virginian; $43.5 million for the N. & W.), they duplicated one another to the point where the two lines were not, in ICC's words, "in the public interest." Merged, they will economize by consolidating managements and by using the Virginian's better tracks eastward over the Allegheny and Blue Ridge Mountains. The Virginian's coal piers and marshaling yard adjacent to the Norfolk Navy Base will...
...ever-cautious ICC warned railroaders that the N. & W.-Virginian decision, which did not involve any opposition from competitors or stockholders, is not a green light for mergers as a way out of financial problems. But it is at least a yellow caution light. Next on ICC's docket is the proposed merger between the Erie and the Delaware, Lackawanna & Western, whose combined loss in 1959's first half is more than $2,000,000. A clear track for this second major combination would revive industrywide merger talks (e.g., between the Pennsylvania and the New York Central...