Transportation: Rescue on the Rails

The Interstate Commerce Commission last week made a belated but decisive move to revitalize the faltering railroads of the Eastern U.S. By authorizing the profitable Chesapeake & Ohio to acquire control of the ailing Baltimore & Ohio, the commission opened the way toward an ultimate merger of these two big lines. This step, in time, could spur a consolidation of the nation's oversupply of competing independent railroads into a few strong regional groupings.

The ICC's 8-to-3 decision cheered most other Eastern railroad chiefs, who are pushing merger schemes of their own, all designed to cut costs by eliminating overlapping lines,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!