A legal protest by Canadian Pacific (CP.TO) over a meeting among big U.S. railroads about mergers in their industry has highlighted maneuvering in the sector to cope with a rapid downturn and possible consolidation. The U.S. railroads met late last year in the presence of lawyers, saying they merely discussed a merger’s impact on the industry. Interviews with U.S. railroad executives show some oppose mergers, others tout possible benefits.