Moving Up

Although crusty old (67) Martin W. Clement passed the voluntary retirement age two years ago, he stayed right on as president of the Pennsylvania Railroad. To some oldtime Pennsy men, it seemed that the road could never operate without his tight rule. But this week he is relaxing his hold. He will retire as president to become the first chairman of the board in the Pennsy's 103-year history.

To fill Clement's post, Pennsy directors picked another oldster, hulking (6 ft. 6 in.) Executive Vice President Walter S. Franklin, himself at the voluntary retirement age of 65 (mandatory retirement age: 70). Franklin had started on a freight platform in Philadelphia in 1906, worked steadily up through the freight division. He left the Pennsy three times--twice to become president of other railroads (Wabash and the Detroit, Toledo & Ironton). Each time he returned to a better job with the Pennsy. In 1948 he was made executive vice president.

Franklin is not too hopeful about the immediate future of his railroad. He expects Pennsy's 1949 freight volume to fall 15% behind 1948, but anticipates better things by the end of 1950. He will not be president for long after that. Railroaders guessed he will be moved up when Clement leaves the chairmanship and Operating Vice President James M. Symes (rhymes with whims), 51, will take over the throttle. An up-from-the-ranks man also, Jim Symes has great visions of the Pennsy's future, once hopefully proclaimed: "The railroads have a potential travel market that requires only tapping."

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