Word: ironton
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Dates: during 1920-1929
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...well doubt Henry Ford's supreme ability to earn dividends, or to pay them to himself as a stockholder. But security holders in the Detroit, Toledo & Ironton railroad are not so certain whether the automobile manufacturer is equally enthusiastic about earning interest and dividends for others...
...every one would like to have the railroads run with low rates, high wages, satisfactory profits. One of the great arguments that much could be done in achieving this kind of millenium has been what Henry Ford has achieved in the operation of his private railroad, the Detroit, Toledo & Ironton. Mr. Ford's operation of this road has often led to loose conclusions as to what could be done to improve railroad conditions by legislation, Accordingly, the Committee on Public Relations of the Eastern Railroads made an investigation to find out what was actually in this talk and last week...
...conclusion the report declared: "An analysis of the reports filed by the Detroit, Toledo & Ironton with the Interstate Commerce Commission clearly shows that it is being operated as a 'plant facility' to the Ford Motor Co. . . . The Ford Company has exercised its power in both directions, both as a purchaser of goods shipped into Detroit and as a shipper of manufactured products out of Detroit. In brief, the one important factor in the increased traffic of the Detroit, Toledo & Ironton since 1920 has been the tonnage diverted to it by the Ford Motor Co., which might otherwise have gone...
...preliminary 1923 figures for the Detroit, Toledo & Ironton Railroad are in; the showing it has made has justified its owner, Henry Ford, in his prediction. The property consists of over 400 miles of main line with trackage rights over another 50 miles, and about 160 miles of yards and sidings. When Henry Ford purchased the road on July 10, 1920, for $5,000,000, most critics thought he had been stuck rather badly at last. Indeed, during 1920, a deficit of $2,121,524 was run up. Since that time, however, Mr. Ford has routed much profitable traffic over...
...satisfied with converting the Detroit, Toledo & Ironton Railroad from an obscure failure into a well advertised and moderately successful line, Henry Ford is now planning to electrify it to obtain cheaper operation. Contracts totaling $1,000,000 have been let to the Westinghouse Electric and Manufacturing Company for new electrical equipment, including locomotives, and active preparations are already in progress for the electrification of the road's first unit...