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Trains Magazine 1962 January Locomotives What's new for 62
Trains Magazine 1962 January
January 1962Volume 22 Number 3
NEWS - - 3
RAILROAD NEWS PHOTOS8
STEAM NEWS PHOTOS - 12
LAST RUN INTO THE WOODS? 18
NEW HAVEN: WHAT NEXT?20
CROSSING OVER JORDAN 22
GRAHAM COUNTY RAILROAD 25
WORKING ON THE RAILROAD 30
DL-721, GP30, KM4000, U25B 32
EXPERIENCE AS A FIREMAN -1 36
CAMELBACK CLASSICS - - 44
NYC+PRR AND THE I.C.C.
THOSE who thought it was impossible to further complicate the Eastern railroad merger picture received a surprise November 8, 1961, when New York Central and Pennsylvania jointly declared their intention to marry - just four years and seven days after their first courtship began back in 1957. No one disputed then (or will now) estimated savings of 100 million dollars a year from consolidation of the nation's two largest railroads, nor has anyone contested the acute need for such savings (both roads expect to wind up 1961 in the red). What concerned many was the fact that so huge a proposition as NYC +PRR automatically ruled out any possibility of two or more competitively balanced railroad systems in the East. By all indices of size but route-mileage and profits, NYC +PRR overshadows any other railroad, proposed or in being, in the U. S., to say nothing of the East. Indeed, size was a publicly acknowledged reason why Central quit dating Pennsy in January 1959 and its President A. E. Perlman suggested that the Eastern Railroad Presidents Conference explore the possibilities of voluntarily creating three or four balanced systems from among its ranks. The ERPC ignored that proposal, Central couldn't find another partner, and finally the nation's No. 2 railroad found itself unable to crash the party of C&O-B&O and panicked by the "gargantuan empire" it felt Pennsy was constructing through the agency of Norfolk & Western (in which PRR has a third ownership interest).
Renewal of NYC +PRR merger proceedings resolves some present problems in the East, namely Central's stern and weighty objections to C&O control of B&O as well as N&W's bid for NKP and Wabash. But Chesapeake & Ohio's joy would surely be of brief duration. Suppose Chessie acquires control of B&O and subsequently absorbs it - what next? Every other road of consequence in the East has now been spoken for. And despite protestations of independence from both parties, Pennsy and N&W must be considered blood relatives so long as the former owns a third of the latter. Ches--sie, then, is not confronted with simply NYC + PRR but rather NYC +PRR +N&W + NKP + Wabash. Plus Erie-Lackawanna as well as little Pittsburgh & West Virginia, which have dropped their objections to N&W's empire building in exchange for a promise to be included in the ceremony. The only palatable alternative, it would appear, would be to merge all Eastern railroads, which is at this date unthinkable. Either that, or have Pennsy dispose of its stock interests in both N&W and Wabash, which is also unthinkable.
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