AS president of the Baltimore & Ohio Railroad, Jervis Langdon Jr., 59, is a realist as well as a third-generation railroader: he takes a train out on business trips but flies home to save time. To tempt other businessmen to ride the rails at least one way, Langdon's B. & O. last week announced a 31% cut in some first-class fares between Eastern cities and the Midwest. If the lure fails, the B. & O. will move to end its money-losing passenger service. This kind of pragmatism, coupled with assistance from the Chesapeake &...
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