A Smell to Heaven?

To most U.S. railroads, the Reed-Bulwinkle Bill was a long-sought boon. It would exempt them from the antitrust laws. The railroads could agree among themselves on rates, as long as they were approved by the ICC. But to a handful of Senators, the bill was a camel's nose beneath the tent of antitrust legislation. They feared the whole camel would soon be inside.

As the battle reached its climax in the Senate last week, Kentucky's Alben William Barkley stood up to give his views. Said he: "If every organization in the United States...

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