Word: freight
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Although Quill's union and System Federation have only 20,000 Pennsylvania maintenance employees, the strike threw out of work another 52,000 Pennsylvania train men, engineers, conductors and office employees. Canceled out by the strike on the nation's biggest freight and passenger carrier were 722 daily passenger trains, and 870 freight trains, which run through 13 states...
...July held steady at 109 -for the fourth month this year. Auto sales are headed for the best August since 1955, but the steel industry is chugging along at less than 55% of capacity and steelmen now foresee less of a September upturn than they had expected. Weekly freight-car loadings, a favorite of the indicator readers, offered few clues: they edged up 0.9% after a two-week decline. July retail sales dropped i% from June, but personal income in July hit a record annual rate of $407 billion. Housing starts fell almost 10% in July from June levels...
...painted Air Force blue highballed down the tracks of western railroads last week, stopping and starting without warning, ducking in and out of sidings and delaying the crack transcontinental limiteds. In many ways it was the most important train in the nation. Instead of cash-paying passengers or revenue freight, it carried 45 hand-picked officers and men of the Strategic Air Command and enough communications gear to put them in instant and constant contact with SAC bases around the world. Ranging from the deserts of Nevada to the plains of Wyoming and the mountain country of Montana, they shook...
...Transport Service, biggest U.S. airline; CAB said that the low fares will be replaced by higher, published tariff rates, with a reasonable margin of profit. This removes the position of privilege that has enabled many nonskeds to grab MATS' business, will transfer much of the military personnel and freight now flown under charter for MATS to the scheduled airlines...
...economy, the picture was not nearly so bright: ¶ New construction in May rose 10% over April to $4.5 billion, but was still 5% lower than May last year. Construction spending for the year so far: $19.6 billion, 2% below the first five months of 1959. ¶ Freight carloadings declined for the third week in a row, largely because of the cutback in steel production. ¶ Machine-tool orders dropped sharply, continuing a downward trend...