RAILROADS: Rescue for the Rails?

From Secretary of Commerce Sinclair Weeks last week came the Administration's program designed to bolster the nation's sick railroads. For immediate relief, the Administration proposed that the Government guarantee $700 million in loans; $500 million would be used to improve plant and facilities, $200 million for new freight cars. For long-term aid, the Administration wants to: ¶ Give the Interstate Commerce Commission power to drop unprofitable passenger and freight runs, and end the power of state commissions to block the ICC. ¶Tighten up on truckers now exempt from ICC rate regulations, since...

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