Word: out-of-pocket
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Dates: during 1935-1935
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...whole the U. S. railroads failed to earn their fixed charges last year by $35,000,000. No less than 30 failed to earn their out-of-pocket operating expenses. Of course, many a road like Pennsylvania, Union Pacific, Atchison, Chesapeake & Ohio, Virginian and Bangor & Aroostook earned not only fixed charges but dividends besides, but the great majority were deep in the red. A wage increase of 5% will take effect in April, topping two preceding raises of 2½% since last July. Traffic is not expanding. And while Jesse Jones might assure the carriers, as he did last week...