Much-Wanted Talent

Mergers are becoming so common among U.S. railroads that planning and executing them have become necessary talents for rail executives. Looking around for a new boss to fill the post that has been vacant since the death of Chairman J. D. Farrington three years ago, the directors of the Chicago, Rock Island & Pacific Railroad particularly wanted a man who was savvy about mergers. Reason: the Rock Island not only wants to merge with the larger Union Pacific, which last week made a new offer to Rock Island stockholders, but is also fighting off a takeover bid by the Chicago & Northwestern. Last week the directors picked a man who seemed ideal for the job: Third-Generation Railroader Jervis Langdon Jr., 59, who fought off New York Central incursions in 1961 as president of the Baltimore & Ohio, then went on to merge the B. & O. with the Chesapeake & Ohio.

Langdon is more than willing to highball west. Though he has expertly swung the B. & O. from a $31 million deficit three years ago to anticipated earnings of $10 million this year, he had a limited future in the combined C. & O.-B. & O. In another round of management shuffles earlier this year, C. & O. Vice President Gregory S. DeVine took over the presidency, as Walter J. Tuohy moved up to vice chairman and chief executive officer (Cleveland's Cyrus S. Eaton remains chairman). DeVine will eventually head both railroads when the physical merger is complete.

Thus passed over, Langdon was anxious to relinquish the B. & O. presidency, which was taken over temporarily last week by Tuohy. From his new position as Rock Island chairman, however, Langdon could end up running the big Union Pacific if the Rock Island merges with it. Langdon is highly regarded in rail circles, and both Union Pacific President Arthur E. Stoddard and Chairman E. Roland Harriman are approaching the road's retirement age of 70.

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