Business & Finance: National Heads North

Less than ten years ago National Airlines was the Toonerville Trolley of the airways. By last week little N.A.L. (1,087 route miles between New Orleans, Jacksonville, Tampa, Miami and Key West) was ready for big-time commercial aviation, with a brand-new Civil Aeronautics Board license in its pocket. As soon as it can get the planes, National can start regular flights to New York through the prize air-travel territory of Savannah, Wilmington, N.C. and Norfolk. The expansion was financed by increased operating revenues (May's take: $156,000) and a $113,333⅓ stock issue which was...

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