Word: freighting
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Dates: during 1930-1939
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...Commerce Commission wants to learn something about railroading, it simply asks the railroads and they have to tell. Last week the I. C. C. invited a procession of eastern railroad men to hearings at Manhattan's Hotel Pennsylvania to tell all they knew about a recondite railroad subject-freight forwarding companies. In the course of its questioning the I. C. C. not only learned a great deal about freight forwarding but uncovered a number of facts which sent newshawks scurrying to proclaim a trunk line FREIGHT...
...this instance the screws were being put on old Daniel Willard's Baltimore & Ohio by Frederick Williamson's New York Central. The screwdriver was Universal Carloading & Distributing Co., biggest operating subsidiary of the biggest freight forwarding company in the land, U. S. Freight Co. Universal's business consists of collecting small freight shipments at strategically located terminals, consolidating the assorted packages into carload lots, dispatching the loaded cars to another Universal terminal, where the carload is unscrambled, the goods delivered to their respective consignees...
...profit a forwarding company looks solely to the spread between the lower freight rate on full car shipments and the higher rate on less-than-carload lots ("l.c.l."). In practice the forwarding companies charge something less than the going l.c.l. rates, which makes their service more attractive to shippers than ordinary railroad service. Last year U. S. Freight took in about $40,000,000 from shippers, paid out in actual transportation charges about $32,000,000, most of which went to the railroads. Handling the innumerable small pieces of freight cost another $7,000,000, and when...
Since forwarding companies, not the shippers, route the freight, the railroads have a natural interest in forwarding affairs. Among the I. C. C. revelations last week was the method by which New York Central controls U. S. Freight and its big subsidiary, Universal-through a tortuous labyrinth of holding companies and dummy corporations. National Carloading Corp., No. 2 freight forwarder of the U. S., is tied up with the Van Sweringen interests...
...power to route freight plays a significant part in U. S. business. Inserted in the I. C. C. record last week was a memorandum written to a New York Central official complaining that Sears, Roebuck & Co. was switching freight forwarding patronage from New York Central's Universal to the Van Sweringen-controlled National Carloading Corp. Reason: Central bought no Sears, Roebuck paint...