RAILROADS: Galahad on Wheels

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It was a dull week on the New York Stock Exchange—except for one stock. New York Central Railroad, usually as quiet as a tombstone, was the liveliest stock on the Big Board. The shares were steadily rising. How come? It was no secret that the great New York Central, second biggest U.S. railroad, was losing money hand over fist. And earning prospects this year looked anything but bright.

Every Wall Streeter thought he knew the answer. The answer was personal; a shrewd, scrappy little man named Robert Ralph Young, board chairman...

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