Railroads: Outlook: Brighter

The nation's largest railroad, the Pennsylvania, last week reached over to the nation's eleventh largest for its new chief: Stuart Thomas Saunders, 54, a Harvard Law grad ('34) who made an impressive record as president of the money-making Norfolk & Western. He succeeds Chairman James M. Symes, retiring at 66 after 47 years with the Pennsy.

Saunders clearly intends to follow the same track as he did at the N. & W.; merge and make more money. He cut costs by modernizing rolling stock and linking up with the complementary Virginian, and earned $65 million after taxes on revenues of...

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