RAILROADS: A Loss for Bob Young

When Railroader Robert R. Young was fighting for control of the $2 billion New York Central in 1953 and 1954, he bought 100,000 Central shares at an average $22 a share. Last week, with Central stock down to 16, Chairman Young admitted that he had quietly shaved his Central holdings to 28,500 shares.

In October, when the price was about 19, he sold 50,000 shares to his wife in a complicated deal for estate purposes. Last month, when the price was as low as 15⅛, Young unloaded another 21,700 shares for tax purposes. Wall Street insiders figured that Bob Young's...

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