RAILROADS: Wheel-Deal in the Central

Robert R. Young pulled a master stroke in his fight to control the New York Central. Last week two oil-rich Texans, both close friends of Young, put up $20 million in cash and bought 800,000 shares of Central stock, biggest single block outstanding, from Cyrus S. Eaton's Chesapeake & Ohio Railway (at a profit of $2,400,000 to the C. & O.). The friendly buyers were Clinton W. Murchison, 58, of Dallas, whom Texans proudly describe as "really a wheeler-dealer," and Sid W. Richardson, 62, of Fort Worth, often called the richest man in oil reserves in...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!