Business & Finance: Railroad Buying

By many students of business, the general industrial prosperity of this country in 1923 was largely attributed to the heavy purchasing policy pursued by the railroads. Recently Richard H. Aishton, President of the American Railway Association, produced figures to justify his statement that the railroads were America's best customers.

Total purchasing by the Class 1 carriers last year, including fuel, materials and supplies, amounted to $1,783,703,000. The largest item was $617,800,000 for fuel, consisting of $519,007,000 for bituminous coal (28% of the country's output), $75,867,000 for fuel oil (about 20% of total production),...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!