RAILROADS: New Hand on the Throttle

Ralph Budd, the "president of railroad presidents," obeyed one of his own rules and announced last week that a new man would be running the Chicago, Burlington & Quincy Railroad on Sept. i. A Budd-made regulation requires executives of the fourth longest U.S. railroad system to retire when they reach 70.

A protégé of Railroader James J. Hill, Budd ran the Burlington with the dash and vision of the old Great Northern empire builder. Taking over the depression-troubled "Q" in 1932, he put it on its feet by such business catchers as the...

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