Railroads: Toward the 21st Century Ltd.

(See Cover) No green light flared from a track-side tower; no warning whistle echoed down the line. But no trainman missed the signal. When the Supreme Court gave its approval last week to the merger of the Pennsylvania and New York Central railroads, it was clearing the track for the nation's entire rail system. It was giving railroad management permission to highball into the future.

As Justice Abe Fortas read the 37-page opinion that put an end to ten years of frustrating negotiation and deliberation, the smile on the face of a...

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