Word: freights
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Dates: during 1950-1959
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When twelve combat veterans of Major General Claire Chennault's famed Flying Tigers sank their savings into an airline in 1945, they were sold on the future of air freight. But, as one Flying Tiger Line executive moaned: "The only trouble is, we've often gone nearly broke trying to get other people to see it." Last week the Tiger Line thought that people were beginning to see things its way. On a gross of $4,964,168, some 60% higher than last year, the line reported a $500,346 net profit (including a $183,500 carryback credit...
...Tigers are not an all-freight line yet: more than $1.5 million of last year's revenue came from special charter jobs; another $961,000 came from repairing and maintaining ships of foreign airlines. As Robert William Prescott, 37, the hustling Tiger president, put it: "We've had to get our development money wherever we could find it." Prescott found it by flying anything, anywhere, at any time, from railroad wheels and loads of gravel to globe-girdling tours for college students, and the Pacific airlift (TIME, Aug. 21). Other jobs...
...Fred Dumaine's methods have done little evident damage to the New Haven. In the first half of this year the railroad's passenger revenues were off 9% from 1949-not so much as those of its New England competitor, the Boston & Maine; freight revenues' were off 1.4%, only a slightly bigger drop than the B.&M.'s. But railroaders, both in & out of the company, think that the effects of Dumaine's policies will soon be felt. Said one fired official: "The sales force is ruined, and . . . you can bet that the friends...
...keep the airlift going, some U.S. airlines have slashed their domestic freight business. Eastern Air Lines has abandoned its cargo-liner service, now carries its freight in passenger planes and in pods attached to Constellations. Capital Airlines has "skeletonized" its camp service. American Airlines has dropped four cities off its cargo routes. Other lines are getting by with makeshift schedules, but these will not hold up if MATS decides it needs more planes on the Pacific lift. This week, General Tunner plans to make a flying inspection of the lift, and a firsthand estimate of its future needs...
...freight-car loadings hit 844,849, highest figure in nearly two years, Johnson tried to get better use out of the cars. He threatened shippers with fines if they kept empty freight cars sitting on sidings over Saturday and Sunday...