Word: railroads
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Dates: during 1930-1939
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...Railroads. Because Labor insisted that the railroad industry give up its demand for a 15% wage cut if a bill for railroad relief was allowed to pass Congress, the session closed without anything being done for the railroads. Result: unless the Interstate Commerce Commission closes its eyes to the facts, and certifies to the RFC that the hard-pressed roads can repay loans made to them (the necessary requisite for RFC loans), it is highly likely that within a few months most U. S. railroads will be bankrupt...
Railmen's Insurance. Although failing to fashion a crutch for the staggering railroads (see col. 1), Congress last week passed a bill taking railway employes out of the unemployment insurance systems of the States and putting them under a Federal system handled by the Railroad Retirement Board. Benefits: $1.75 to $3 per day for up to 80 days of idleness per year. Source of revenue: a 3% payroll tax on wages up to $300 per month...
...filth settles ankle-deep on the fields, mothering germs, smothering crops. Last week, about 500,000 peasants were driven from 2,000 communities to await rescue or death on whatever dry ground they could find. Thousands huddled miserably on the high right-of-way of the Lunghai Railroad, which for months has been a fulcrum for the see-sawing central China warfare...
...muttonchop whiskers, high square derbies, baggy trousers; they thought of stock prices as unrelated quotations on individual issues, often the result of manipulation. Charles H. Dow, a small, precise man, first editor of The Wall Street Journal, had a different idea; he had been keeping averages of railroad and industrial stock prices since 1897, had found beneath individual fluctuations a trend of the market as a whole...
...book on the Dow Theory. William Hamilton died in 1929-a few weeks after he announced that the greatest bull market in history had ended: "On the late Charles H. Dow's well-known method of reading the stock market movement from the Dow-Jones averages, the twenty railroad stocks on Wednesday, October 23 confirmed a bearish indication given by the industrials two days before. Together the averages gave the signal for a bear market in stocks after a major bull market with the unprecedented duration of almost six years...