Word: railroads
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Dates: during 1930-1939
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...Roxbury, Mass, clergyman who found charm in other things besides divine philosophy, thought back to the time when he had trained Harvard's crew for its first race with Yale. Pondering on the smoothness with which the racing shell had slipped through the water, and knowing that railroad engines often use more power to overcome atmospheric resistance than to pull cars, Rev. Mr. Calthrop sat down with pencil & paper, sketched an "Air-Resisting Train" which anticipated by almost 70 years the modern streamliner...
...Pushed toward Congressional action the first of three proposed emergency laws to help the railroads. Reported favorably by the Senate Banking & Currency Committee, this bill would permit RFC to make work-loans to any railroad, with reasonable expectations the only collateral required and without the present necessity for the ICC to certify that the road is not facing reorganization. A bill to create a three-man bankruptcy court for railroads is still being drafted; another permitting land-grant railroads to charge full rates for all Government traffic except Army and. Navy supplies was reported favorably by the Senate Interstate Commerce...
...Most railroad officials, however, feel that solution of the railroad crisis is not a question of complicated legislation but a simple issue of increasing income or reducing expenditures. The former was ruled out when ICC last March refused to raise freight rates more than 5.3%. So last week the Association of American Railroads, meeting 100-strong in Chicago, took the Splawn report at face value, voted to cut railway wages 15% as of July I. Estimated saving: $250,000,000 a year...
...depths of the last depression, the railway unions voluntarily took a 10% pay cut, which has since been restored and garnished with a further 7½% rise. Now, as the A. A. R. last week pointed out, the railroad situation is even worse than in 1932. In January 1938 the railroad operating net was 32% under January 1932. Last week the first 37 roads to report March earnings showed an aggregate decrease of 80% from last year. First quarter earnings reports indicated staggering losses in almost every case. Samples...
...steamboat captain, he was born in La Crosse, Wis., 45 years ago, went to work after high school as a fireman for the Chicago, Burlington & Quincy R.R. Nineteen years later he had risen to be a conductor, got into the Wisconsin Legislature with the support of the Brotherhood of Railroad Trainmen. Next he acted as the Brotherhood's lobbyist in Madison, Wis. Then in 1930 he went to Congress as a Republican...