Word: year
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Dates: during 1940-1949
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Railroadmen knew that this was true. The net income of Class I railroads had dropped from $262 million in 1948's first half to $173 million in the first six months this year. Much of the diverted freight was picked up by truckers. They netted $40.5 million in 1947, nearly doubled that last year with $73.4 million, and their traffic was still rising...
Unlike Founder Sill and retiring Headmaster Father William Scott Chalmers (who was California-bound to take over North Hollywood's Harvard School), lean, 41-year-old John Oliver Patterson has never been a monastic. Born in Goldfield, Nev., he was originally trained as an architect at the University of Illinois and the Massachusetts Institute of Technology. After two years as a practising architect the new "pater" left his drawing board for the ministry, now has 15 bustling years in Midwestern parishes behind him. In the last eight years he has swelled his Madison, Wis. congregation from...
...railroads did not know how to buck the trend, as long as labor costs kept rising and income dropping. Since 1939, railroad freight rates had been increased 57%. All told, the railroads will collect an estimated $3 billion more a year for freight hauling than under the 1939 rates. Meanwhile wages have been boosted 86% -and next month's reduction of the work week from 48 to 40 hours will cost another $380 million a year...
...Montgomery Ward's autocratic Sewell Lee Avery could not get along with anybody. He apparently got along with William L. Ready, president of U.S. Gypsum Co., of which Avery is also board chairman. As eleven senior officers and directors walked out of Montgomery Ward's in a year (TIME, May 31, 1948 et seg.), Avery liked to point to Keady to show that he could "get along with associates who function in their jobs...
...Curtiss-Wright Corp., which has had its share of top echelon troubles during the past year, last week got a new president: Roy T. Hurley, director of manufacturing engineering at the Ford Motor Co. He was handpicked by Wall Street Investment Banker Paul V. Shields, who took over as Curtiss-Wright's chairman and chief executive officer last April. Shields wanted a man who could cut costs at Curtiss-Wright and lift its sales volume to a profitable level with an additional line of non-aviation products...