Edward Napoleon Claughton has another Napoleonic railroad plan. Claughton, holder of one of the largest single blocks of stock in the Missouri-Kansas-Texas Railroad Co. ("Katy"), came a cropper with his first plan to control Katy's board of directors (TIME, April 23). He lost out to Katy President Matthew Scott Sloan,* who died a month later. Into his job went a friend of Claughton's, softspoken, malleable Raymond John ("Mike") Morfa, onetime assistant to Allegheny Corp.'s Robert Ralph Young.
With the stage all set, slick, quick Ed Claughton, who also deals in Miami real...
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