Railroads: Go-Ahead

The Interstate Commerce Commission approved the historic merger of the Pennsylvania Railroad and the New York Central last year, only to see it tangled in legal challenges. Last week—a year later to the day—the ICC bestowed its blessing on a rail merger that it hopes will be consummated with minimum delay. Highballed to join on June 1 were the Chicago and North Western and the smaller Chicago Great Western, whose get-together could save the two lines $6,000,000 a year.

The ICC noted that the ailing Great Western's "limited traffic volume and capital" has prevented it from modernizing. By...

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