Railroads: On the Right Track

American railroads are still a long way from consolidating into two or three giant lines that would blanket the nation, but the trend is clearly in that direction. There have been 35 rail mergers since 1957, and a dozen mergers are now pending. Last week the Chicago & North Western and the Chicago, Milwaukee St. Paul & Pacific, which have been eying each other ever since 1939, finally decided that one can live more cheaply than two. The estimated saving from sharing their facilities and eliminating duplicating service: about $40 million annually....

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