Rail Earnings

Rail earnings of the half year, just now consolidated for the entire country, were $494,866,776 derived from gross revenues of $3,038,560,861. Some part of these earnings will go to the Government under the recapture provision of the Transportation Act of 1920. This provides that one half of all a railroad's excess net operating income go into the General Railroad Contingent Fund to help impoverished rivals. Income becomes excess when it goes over 5¾% of the road's property valuation. What that valuation should be based upon is in dispute. The Government insists on the...

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!