Eddie informs Dagny that McNamara, the contractor for the Rio Norte Line, has suddenly retired without explanation. After a night of sex, James tells Betty Pope he is going to put Dagny in her place at the Board Meeting. James finds out Mexico has nationalized the mine and the railroad. James takes credit in front of the Board for minimizing TT's loss by running fewer and poorer quality trains. The "Anti-dog-eat-dog Rule" is passed as a measure of "voluntary self-regulation". The Phoenix-Durango (Dan Conway) has 9 months left to operate. Orren Boyle takes credit for the Rule and tells James that it's his turn to deliver. Dagny offers Dan Conway help to fight the Rule. Dan decides to retire. Ellis Wyatt delivers an ultimatum to Dagny, "Get me service in 9 months or I'll take you down with me." Dagny promises service in 9 months. Hank agrees to deliver the rail in 9 months, instead of 12 months, at a higher price.
SUBPLOT (loose ends)
The United Locomotive Works has still not delivered the engines. They have no reasons for the delays and no idea when they will be available.
Halley Background - Dagny goes home and listens to Halley's Fourth Concerto while we learn about Richard Halley and his retirement.
Francisco d'Anconia - Dagny reads in the paper that Francisco is in NYC "to witness the farce". Mrs. Vail took a shot at her husband and told the newspaper of her romance with Francisco during last New Year's Eve. Orren and James believe Francisco has a way to get their money back, because he's never lost, but they can't get an appointment with him.
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