Word: railroads
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Dates: during 1920-1929
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Last week the Kansas City Southern R. R. cut its wheat rate 7 cents per 100 Ib. from midwest points to gulf ports. Wheat exporters were ready to leap with joy. Then eastern railroad executives (New York Central, Pennsylvania, Baltimore & Ohio, Reading, Lehigh Valley) met in Washington, recognized "an emergency of national proportions," volunteered to cut their freight rates from the Mississippi Valley to North Atlantic seaports on wheat for export. The reductions per bushel (60 Ib.) would be: 2 cents from Buffalo, 4 cents from Chicago, 5 cents from St. Louis...
...Western railroad executives then met in Washington to consider similar reductions which, if added to those by the eastern carriers, would move each bushel out of the glutted midwest to Atlantic seaports at about 9 cents per bushel cheaper than at present. The Shipping Board was approached to establish emergency freight rates on wheat to European ports as an additional means of increasing the outflow from...
...also had to be moved out before the new crop came in. The Port of Montreal was congested with surplus grain. Eleven vessels with large wheat cargoes cleared last week, starting the flow to Europe. To retain Canada's present 8 cent freight advantage to the world market, its railroad executives prepared to discuss rate reductions correspondingly below the new U. S. rates...
...hour's ride from the city, it takes away the advantage of flying time. On a trip from New York or Philadelphia to Washington, the time required going to and from distant landing fields would add so much to the flying time as to leave little advantage over railroad transportation...
...Haven railroad stock crossed par for the first time since 1913. It sold at 279 in 1887, at 129 in 1913, at 9? in 1923, last week at 100?...