Word: railroads
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Dates: during 1930-1939
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...week took into custody Gerrit Albrink, 30, son of a Nazi member of the Dutch Parliament, employe of a German garage owner now serving with the Nazi Air Force. In Albrink's car when he tried to drive into Germany were an assortment of Dutch uniforms-soldiers', railroad guards', postmen's-obviously not intended for a fancy dress ball...
From 1909 to 1931 the common stock of Central Railroad Co. of New Jersey never paid less than $10 annually. Bluest of blue chips, the rich, little (1,155 miles) anthracite road had skipped only eleven dividends since it began operations in 1848. For 25 years (1905-30) the stock seldom sold below 200. In 1912 it hit a peak of 395; in 1928 another of 375. Last week it could be bought for 5. Sic transit...
...last week Jersey Central went bankrupt, joined 81 roads (over 31% of U. S. railroad mileage) that have gone into receivership since 1931. Driven to the wall by seven consecutive whopping deficits, its first eight months' operations this year showed a $2,709,000 net loss. Of its once lush freight business, about 50% was coal and 40% manufactured goods, and neither recovered from Depression I. With heavy fixed charges on a bonded debt of $51,198,000, the strain of depression was too much. But the straw that broke Jersey Central's back was taxes...
...inordinately stingy with elephants for State durbars and who rides around in an old touring car while other less prosperous maharajas sport dozens of custom-built limousines. Thus he has amassed a fortune which includes treasure houses filled with gold, jewels, ivory carvings, antiques, not to mention a railroad or so, a few mines, stocks & bonds. He has often been called the world's richest...
Cheerful financial news there was, last week, in September's railroad earnings report. Net income for Class 1 roads was estimated to be a swaggering $36,000,000, twice September 1937's $16,110,527, three times August's $10,053,000, six times September...