Business & Finance: Nowhere to Nowhere

Of the 32 class 1 U. S. railroads now undergoing reorganization, none is more disorganized than the New York, New Haven & Hartford, whose securities were once a glistering gilt-edge investment. Of the New Haven's tremendous grab-bag of subsidiaries, none is in more pitiable state than the New York, Westchester & Boston Railway Co. Last week the ax which has long hung over this starving little line finally fell in the form of an order lopping off almost a third of its mileage.

The New York, Westchester & Boston is 30 miles of track "from nowhere to nowhere." Chartered in, 1872, begun...