RAILROADS: Christmas for Trains

For nearly three years, the railroads of the Northeast have been highballing toward disaster. Six lines,-which control half the trackage in the 15-state area, are bankrupt, maintenance has been cut for lack of cash, and equipment is literally falling apart. Now, however, there is light at the end of the tunnel: following House approval, a Northeast rail reorganization bill passed the Senate last week. Expanded to include the Ann Arbor, a ruined Michigan line, and bearing a price tag of at least $4 billion, the measure is quite a Christmas treat. While...

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