Word: freight
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Dates: during 1930-1939
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...made money, despite the fact that its directorate was a roster of "big names." Last week what had been long expected occurred. A receiver was appointed for $25,000,000-in-assets Atlantic Fruit & Sugar. Although its earnings are down because of poorer fruit prices, fewer passengers and less freight on the "Great White Fleet," United Fruit still remains supreme in its field. Last week it was apparent that United Fruit has lost none of the aggressive spirit which has so firmly entrenched it in Central America. In Honduras the company was building a rail-road through the banana country...
...President he said: "I'm confident an agreement will be reached at the wage conference and I'm hopeful for a solution of the railroads difficulties." He explained that $200,000,000 would come from a wage cut which, with the $100,000,000 from increased freight rates, would pull the carriers through. The Willard optimism gave a hopeful fillip to rail securities...
...with financial responsibility to build ships it must at least earn the depreciation on the old ships [fixed by Cunard at ?675,000 a year]. This the company has not been able to do in this year for the first time in many years. The decline in passenger and freight traffic seems to have no limit...
...Rates. After long investigation, contests and disputes the new freight rates authorized by I. C. C. last year went into effect at midnight Dec. 2. According to I. C. C. the new rates will increase revenues of eastern roads $25,000,000, western roads $12,000.000. The carriers dispute these figures, say it will amount to much less and in any case, much less than they really need...
These rates are not to be confused with the new schedules offered the roads by I. C. C. in October in answer to the carriers' plea for a 15% all-around freight rate increase (TIME, Nov. 2). This plan offered to increase the December rates if all roads would pool their income from the increase for the benefit of weak-sisters. Thinking this too much like a dole, strong roads balked, counter-proposed to loan the money where needed at a fair rate of interest. Last week the I. C. C. agreed to this by a seven-to-four...