RAILROADS: A Bill for Bob

What did it cost Robert R. Young to win control of the New York Central? In a footnote to a financial report, Young's Alleghany Corp. last week gave the answer: more than $1,000,000. Alleghany listed $1,400,000 in deferred expenditures, "represented substantially by amounts spent in connection with the solicitation of proxies of the New York Central Railroad Co. . . . It is anticipated that Alleghany Corp. will be reimbursed for them during 1955." Bob Young & Co. can well afford to pay the debt. Their Central stock, worth $25 million at the time of the fight, has since...

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