TEXT 3
In recent years, railroads have been combining with each other, merging into super systems, causing heightened concerns about monopoly.As recently as 1995, the top four railroads accounted for under 70 percent of the total ton miles moved by rails.Next year, after a series of mergers is completed, just four railroads will control well over 90 percent of all the freight moved by major rail carriers.
Supporters of the new super systems argue that these mergers will allow for substantial cost reductions and better coordinated service.Any threat of monopoly, they argue, is removed by fierce competition from trucks.But many shippers complain that for heavy bulk commodities traveling long distances, such as coal, chemicals, and grain, trucking is too costly and the railroads therefore have them by the throat.
The vast consolidation within the rail industry means that most shippers are served by only one rail company.Railroads typically charge such "captive" shippers 20 to 30 percent more than they do when another railroad is competing for the business.Shippers who feel they are being overcharged have the right to appeal to the federal government's Surface Transportation Board for rate relief, but the process is expensive, time consuming, and will work only in truly extreme cases.
Railroads justify rate discrimination against captive shippers on the grounds that in the long run it reduces everyone's cost.If railroads charged all customers the same average rate, they argue, shippers who have the option of switching to trucks or other forms of transportation would do so, leaving remaining customers to shoulder the cost of keeping up the line.It's theory to which many economists subscribe, but in practice it often leaves railroads in the position of determining which companies will flourish and which will fail."Do we really want railroads to be the arbiters of who wins and who loses in the marketplace?" asks Martin Bercovici, a Washington lawyer who frequently represents shipper.
Many captive shippers also worry they will soon be hit with a round of huge rate increases.The railroad industry as a whole, despite its brightening fortunes, still does not earn enough to cover the cost of the capital it must invest to keep up with its surging traffic.Yet railroads continue to borrow billions to acquire one another, with Wall Street cheering them on.Consider the ＄10.2 billion bid by Norfolk Southern and CSX to acquire Conrail this year.Conrail's net railway operating income in 1996 was just ＄427 million, less than half of the carrying costs of the transaction.Who's going to pay for the rest of the bill? Many captive shippers fear that they will, as Norfolk Southern and CSX increase their grip on the market.
51. According to those who support mergers railway monopoly is unlikely because .
［A］ cost reduction is based on competition
［B］ services call for cross trade coordination
［C］ outside competitors will continue to exist
［D］ shippers will have the railway by the throat
52. What is many captive shippers attitude towards the consolidation in the rail industry?
［A］ Indifferent.
［B］ Supportive.
［C］ Indignant.
［D］ Apprehensive.
53. It can be inferred from paragraph 3 that .
［A］ shippers will be charged less without a rival railroad
［B］ there will soon be only one railroad company nationwide
［C］ overcharged shippers are unlikely to appeal for rate relief
［D］ a government board ensures fair play in railway business
54. The word "arbiters" (line 6, paragraph 4) most probably refers to those .
［A］ who work as coordinators
［B］ who function as judges
［C］ who supervise transactions
［D］ who determine the price
55. According to the text, the cost increase in the rail industry is mainly caused by .
［A］ the continuing acquisition
［B］ the growing traffic
［C］ the cheering Wall Street
［D］ the shrinking market[NextPage]
account22 n.①账（目，户）；②叙述，说明；③价值，地位；v.（for）①说明，解释；②占；③（take into）考虑；顾及
acquire7 v.①取得，获得，占有；②学到
acquisition3 n.获得，获得物
allow9 v.①允许，准许；②承认；③让...得到，使...得以发生
appeal5 v./n.①（to）呼吁，要求；②对...有吸引力；③申述，上诉
argue19 v.①争论，辩论；②认为，主张，论证；③说服
attitude14 n.①（to，towards）态度，看法；②姿势
average17 n.平均（数）；a.①平均的；②普通的，一般的；v.平均，均分
bid3 v.①出价；②投标；③努力争取；n.①买方的出价；②投标；③努力争取
billion11 num./n.［美］十亿，［英］万亿
board5 n.①板，纸板；②全体委员，委员会，部门；③伙食；船舷；v.上船（车，飞机）
bulk3 n.①体积，容积；②主体，大批，大量
business36 n.①商业，生意；②事务，业务，职责；③企业；④贸易量；⑤行业，业务
capital7 n.①首都，首府；②大写字母；③资本，资金；④资产阶级；a.首位的，最重要的，基本的
captive4 n.俘虏；a.①被俘虏的，被监禁的；②受约束的，受控制的
carrier1 n.①搬运人；②载体
cause28 n.①原因，理由；②事业，事件，奋斗目标；v.使产生，引起
charge5 v.①索（价），要（人）支付，收费；②控告，指控；③充电；④承担；n.①［pl.］费用，代价；②电荷，负荷
chemical3 a.化学的；n.［pl.］化学制品，化学药品
combine5 v.①（with）（使）结合，联合；②（使）化合
commodity6 n.商品，物品
compete5 v.①比赛；②竞争
competition16 n.①比赛；②竞争
complain3 v.①（about，of）抱怨；②申诉
concern20 v.①涉及，关系到；②（常与with，about，in连用）关心，挂念；③担心，担忧；n.①（利害）关系；②关心，挂念；③担心，担忧
consume5 v.消费，消费，耗尽
coordinate1 a.①同等的，并列的；②坐标的；n.坐标；vt.协调，调节
despite5 prep.不管，不顾
ensure5 v.确保，保证
extreme4 a.①末端的，尽头的；②极度的，极端的；n.①极端；②最大程度；③极度（状态）
fair9 a.①公平的，合理的；②相当的，尚好的；③晴朗的；④金发的；n.集市，交易会，博览会
federal14 a.联邦的
fierce3 a.①凶猛的，残忍的；②激烈的，强烈的
flourish2 v.繁荣，茂盛，兴旺
freight1 n.货物，客货，运费
function10 n.①功能，作用；②［pl.］职务，职责；③函数；v.起作用
grain2 n.①谷物，谷类；②颗粒，细粒
grip3 v./n.紧握，抓紧
heighten1 v.提高，升高
indifferent2 a.冷漠的，不关心的，不积极的
indignant1 a.愤慨的，愤慨不平的
infer21 v.推论，推断
invest4 v.投资
justify8 v.证明...是正当的，为...辩护
major11 a.（较）大的，（较）重要的；n.①专业，主修科目；②专业学生；③少校；v.（in）主修，专攻
merge1 v.合并，兼并
monopoly2 n.垄断，专卖
option3 n.选项，选择权，买卖的特权
process34 n.①过程，进程；②工序，制作法；③工艺；v.加工，处理
rail3 n.①栏杆，围栏；②［pl.］铁路；③铁轨，轨道；④横杆，栏杆
railway3 n.铁路；v.由铁道运输
rate31 n.①比率，率；②等级；③价格，费用；v.①估价；②评级，评价
reduction5 n.减少，减价
relief3 n.①（痛苦等）减轻，解除；②援救，救济
represent4 v.①描述，表示；②代表，代理；③阐明，说明
rival4 n.竞争者，对手；v.竞争，对抗；a.竞争的
series5 n.①一系列，连续；②丛书
shoulder2 n.肩，肩部；v.肩负，承担
shrink3 v.①起皱，收缩；②退缩，畏缩
subscribe1 v.①订购，订阅；②同意，赞成
substantial3 a.①实质的，真实的；②坚固的，结实的；③富裕的；④大的，相当可观的
supervise2 v.管理，监督
surge1 n.①急剧上升；②汹涌；vi.①奔腾；②急剧上升
switch4 n.①开关；②转换；v.转变，转移
system31 n.①系统，体系；②制度，体制
theory20 n.①理论，原理；②学说，见解，看法；③看法，观点
threat9 n.①恐吓，威胁；②坏兆头，危险迹象
throat1 n.咽喉，嗓子
traffic2 n.交通，交通量
transaction3 n.①办理，处理；②交易，事务；③［pl.］会报，学报
unlikely5 a.未必的，靠不住的
according47 ad.依照，根据
apprehensive1 a.①有理解力的；②忧虑的，担心的
arbiter1 n.仲裁者，主宰者
competitor2 n.竞争者
consolidation1 n.巩固，合并
coordination2 n.协调，配合
coordinator1 n.协调人，同等的人或物
discrimination4 n.①识别力，辨别力；②（against）歧视
economist6 n.经济学者，经济家
marketplace2 n.集会场所，市场
merger6 n.合并，归并
nationwide1 a.全国性的
overcharge1 v.索价过高；n.超载
shipper9 n.托运人，发货人，货主
transportation3 n.运输，运送
trucking1 n.①货车运输；②货车运输业
typically3 ad.代表性地，作为特色地
