Whenever railroading needs improvement, Alleghany Corp's. Robert R. Young is quick to volunteer for the job (TIME, Sept. 3, 1945). Last fall Bob Young, whose sprawling empire included no part of the New York Central Railroad Co., declared that "there is a great deal of room for improvement in [New York Central's] management." Last week Alleghany Corp. reported that it had spent some $2,500,000 to buy 162,500 shares of Central stock, thus acquiring the largest single interest (about 2.5%) in Central's widely diffused ownership.
This was a fair-sized stack of chips. But the game was big. Among U.S. railroads New...
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