Business & Finance: Pullman Sold

In Philadelphia, a special federal court last week decided who will be permitted to buy Pullman's sleeping-car company. Its choice: a combine of 52 railroads which already use 96% of Pullman's 7,000 cars. The price: $75,000,000.

The court agreed with Pullman that the roads should be picked from the four bidders* because they "are the natural and obvious people to be in the sleeping-car business." To ward off danger of a new monopoly replacing the old, the court ruled that: 1) there must be no interlocking directorates among the roads and Pullman; 2) the Pullman service—and the individual roads—must buy new sleeping...

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!