Railroads: Getting Closer

New York Central President Alfred E. Perlman was 55 when he and the late Robert R. Young began serious negotiations with Pennsylvania Railroad executives toward a merger of their lines. Next month Perlman will turn 65, nearing the expiration of his contract with the Central because of age—and still waiting for the Penn Central merger to occur. But at least he is getting closer. Last week, in the latest of a series of legal moves involving the Penn Central, a three-judge federal court in New York told Perlman and Pennsy Chairman Stuart Saunders...

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