Word: freighting
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Dates: during 1940-1949
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Western Europe's output from mines and factories was up to prewar level and 14% above 1947. Exports were up 20% over last year's. Electric power output and freight traffic, despite all of war's dislocations, were now far above prewar levels. Said Hoffman: "This is the time to hit hard for European recovery-time for the Europeans to take drastic and sometimes painful steps necessary for real recovery, time for the U.S. to back their efforts to the full...
...proved so successful that Budd dieselized his entire run as fast as he could plow back earnings (now diesels power 80% of the Q's passenger miles, 50% of its freight). The big diesel payoff came in freight. Because of the easier maintenance of diesels, Budd stepped up the Burlington's freight car mileage to 62.7 miles a day by 1947 (v. a national average of 47.6). And the Burlington's net rose last year to an estimated $28 million...
Like a doting grandfather who has fed the youngsters too much candy, the Interstate Commerce Commission was getting alarmed at its own generosity to U.S. railroads. Since war's end, it had given them six freight-rate boosts. Yet freight revenues were declining; in the first half of January, carloadings were 11.2% below last year. Last week, in its annual report to Congress, ICC guessed why. It thought that railroads might be pricing themselves out of business...
Furthermore, one of the biggest drops in carloadings had been in coal, which provides the biggest single source of railroad freight (14%). Thus, the more oil-burning diesels the roads bought, the more they would cut their coal revenues...
Nipped in the Bud. Like a master switchman in a freight yard, he bossed the whole Santa Anita operation from his cupola, rigged up a battery of telephones to connect him with every corner of the enclosure. It has worked, so far. Original stockholders, who paid $5,000 a share, have been offered $62,500 for them. Besides paying out whopping dividends, Doc plows great chunks of money back into his gold mine-giving paying guests more comfort, beauty, entertainment and $100,000 races. This winter, at a cost of $400,000, he opened a fancy new lounge and restaurant...