Railroads no longer grow by stretching new lines of trackthey simply merge. Last week the U.S. got two new, big rail systems by merger. The Supreme Court gave final affirmation to a union of the Chesapeake & Ohio and the Baltimore & Ohio, which together will form an 11,000-mile system stretching through the East and Midwest. A few days later, the Interstate Commerce Commission approved plans for the Atlantic Coast Line and the Seaboard Railroad, long fierce rivals, to join. The 12,300-mile linkup, stretching through the Southeast from Florida to Virginia, will...
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