Business & Finance: Erma, Irma

It last week appeared likely that Erma would soon change to Irma. Born in 1926, Erma grew very rapidly, but last winter it appeared that her constitution had been undermined and that she was likely to collapse at any moment. Should Erma actually become Irma, however, the change would be a potent augury of future good health.

Erma is the European Rail Makers' Association, a cartel which includes British, French, German, Belgian and Central European rail manufacturers. It was last week reported that U. S. railmakers were on the point of formally entering the...

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