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Trains Magazine 1959 March A sampler of master carbuilders art
Trains Magazine 1959 March
March 1959Volume 19 Number 5
NEWS-5
NEWS PHOTOS -8
WHY THEY BOUGHT DIESELS14
MSTL IN THE NEWS -16
WEEP NO MORE, MY LADY20
TRIPMASTER -23
PHOTO SECTION27
AMBIDEXTROUS LINE -40
ONCE UPON A TIME -49
Railway post office 54Running extra58
Second section57Interchange58
COVER: Private car El Fleta, built by Pullman in 1905 for Johnny Bunting. See "Second Section."
A TIME TO PUT UP OR SHUT UP
BEFORE we marry the girl, we want to make sure no other heiress is around that might fall into our lap." So saying, New York Central President Al Perlman dismissed talk that his road had left the Pennsylvania standing at the church following an abrupt postponement of merger negotiations begun in November 1957.
Word had leaked out that Central was cooling on the prospect of NYC+PRR and the grapevine passed along these reasons:
If Central's top management, new in 1954, wants a chance to demonstrate the earning power of its taut, modernized plant. Thanks to new yards, dieselization and C.T.C. the road is now in a position to turn even a moderate boost in carloadings into a sizable hike in net. Merger with Pennsy now would confuse such results.
Pennsy has more of a bond maturity problem coming up in the 1960's than its would-be bridegroom, a circumstance which could complicate stock exchange in a wedding.
ffCentral wonders if NYC+PRR wouldn't be too much of a good thing, i.e., a railroad too big to manage.
True or not, such talk went the rounds; then early in January Central's board issued a three-part statement: (1) the road is "very pleased" with the savings possible from either merger or co-ordination of facilities; (2) co-ordination savings should be implemented immediately; and (3) before NYC+PRR is undertaken it would be well for all Eastern roads to consider the idea of consolidating into three or four lines of "nearly balanced economic strength."
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