RAILROADS: The Search for Aunt Jane

The battle for control of the New York Central turned into a standup, knockdown fight last week. Squared away on one side was suave, ambitious Robert R. Young, 57, whose mastery of high finance and knowledge of corporate infighting won him control of the $65 million Alleghany Corp. in 1941. Young boldly demanded to be named chairman of the Central's board because he owned 100,200 of its shares (which he claimed was the largest individual holding) and because he had the support of the 100.000 shares owned by his associate. Allan P....

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