Word: railroads
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Dates: during 1920-1929
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With most U. S. railroads having by last week reported their first half incomes for 1929, statisticians, investors, speculators and railroaders noted and interpreted the following railroad facts...
General Earnings. Estimators figured that the operating net income for all U. S. railroads for the first half of 1929 was at the rate of annual earnings of 6.11% of railroad valuation (by the roads), whereas the same figure for corresponding 1928 period was at the annual rate of 4.78% on valuation...
Passenger Traffic. Railroad passenger traffic has steadily declined since 1921, but every month since November 1928 the rate of decrease has grown smaller. Railroad men feel that passenger traffic has reached its minimum, will improve in the future. As 60 passengers can be hauled in the same coach and at the same cost as 30, an increase in passenger traffic would be very healthy for net incomes...
...Shoup assisted him in relief work. So helpful was Mr. Shoup that there is a popular fable that he was a Harriman protege. It was, however, during the Southern Pacific's post-Harriman period that Mr. Shoup really rose to a prominent position, particularly through his management of the railroad's electric traction interurban lines and oil interests. He managed Pacific Oil Co. and Associated Oil Co., Southern Pacific subsidiaries, which later were sold to Standard Oil of California and Tidewater Oil, respectively...
...Railroad officials, their families and friends rode many a needless free mile over foreign lines in private cars...