Word: york
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Dates: during 1950-1959
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...Depression clipped Eaton's wings but not his tongue. Railing at Wall Street and the "New York money ring," he became a New Dealer and pro-union, as well as a violent enemy of Ohio's Senator Robert A. Taft because Taft's early isolationism was "a policy as fantastic in theory as it is impossible in practice." Eaton prevented the Taft family from merging Cincinnati's Enquirer with their successful Times-Star by lending the employees $7,600,000 to buy the paper from the management...
...fated auto venture. Then, at a critical moment, Eaton backed out of a deal to underwrite $11.7 million worth of new Kaiser stock. (The court fight lasted four years; characteristically. Cy Eaton won.) One of his biggest deals: helping the late Robert R. Young win control of the New York Central Railroad in return for control of the profitable, coal-hauling Chesapeake & Ohio...
...gloom of the '57-'58 recession, many a U.S. railroad sought merger partners to strengthen its condition. For 14 months the Pennsylvania and the New York Central, the nation's No. 1 and No. 2 roads, talked, thought and studied. Last week the Central flashed the red board. It announced that it was suspending the Pennsy merger talks until "three or four systems of nearly balanced economic strength in the East" could be studied. Conferences among smaller roads in Portland (Me.) and Cleveland (TIME, Dec. 1), said the Central's directors, indicate "a new climate among...
...railmen have known for some time that the Pennsy is more anxious to merge than the Central, which has had its doubts about managing the $5.6 billion behemoth that would be formed by a merger. Meanwhile the seven smaller roads-Erie, Baltimore & Ohio, Chesapeake & Ohio, Reading, Delaware & Hudson, New York, Chicago & St. Louis, Delaware, Lackawanna & Western-that had huddled in October to discuss what to do in the face of a Central-Pennsy merger also dropped their own merger talks...
Born. To Maria Tallchief, 33, prima ballerina of the New York City Ballet company, Oklahoma-born daughter of an Osage Indian, onetime wife (No. 4) of Choreographer George Balanchine, and Chicago Construction Executive Henry ("Buzz") Paschen Jr., 32, her third husband: a daughter, their first child (he has another daughter by an earlier marriage); in Chicago. Name: Elise...