Word: freights
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...handsome, excessively rugged individualist named George Plummer Mc-Near Jr. bought the bankrupt Toledo, Peoria & Western Railroad for $130,000 down (price: $1,300,000). The road had one great asset-transcontinental freight trains used it to get around Chicago...
...which supplied Consolidated. Presumably, Consolidated would now buy from its new owner, Big Steel. About a month ago, Kaiser again felt the hot breath of Big Steel on his neck. Through a dicker with four western railroads, Big Steel had won a $4-40-a-ton reduction in the freight rate on steel shipped from Geneva to the coast...
Kaiser's own shipping costs for steel from his Fontana plant had gone up 17½% in the general freight rate carriers. At the news that his Utah competitor was actually getting a reduction, he jumped as if someone had dropped a hot rivet in his pocket. The lowered Geneva freight cut, he cried, would amount to a "subsidy of some $1,200,000 a year" to Geneva. In his complaint Kaiser had some strange allies: the eastern steel companies, competitors of U.S. Steel, whom he had long condemned...
Help for Henry. Big Steel's Ben Fairless' retort to the protests was: nonsense. The freight cut would, he said, be passed on directly to consumers. They would get the cheaper steel which the company had promised the West Coast when it bought Geneva. But Kaiser, thrown into a bad competitive position, was undoubtedly not interested in cheaper steel if it meant closing up Fontana. And it might mean just that when the current steel shortage is over...
...week's end, on the day before the reduction was to go into effect, the ICC agreed to hold up the rate changes while it investigates. It looked as if the West would not get cheaper steel from Big Steel unless Henry Kaiser got a freight reduction...