While Government and industry spokesmen worried on about how to solve the crucial problems of the nation's railroads, the Interstate Commerce Commission last week took some levelheaded action. By unanimous vote, ICC approved the merger of two major Eastern seaboard soft-coal carriers, Norfolk & Western and the Virginian, allowed them to form a single system with assets of $970 million and 2,746 miles of track serving six states (see map). It was the biggest consolidation of two independent lines since ICC was formed in 1887, and one that President Stuart T. Saunders,...
To continue reading:
or
Log-In
