Business & Finance: The St. Paul

That 1923 was a good year for the railroads was recently shown by the annual report of the Chicago, Milwaukee & St. Paul Railway for last year. For the first time since 1917, the Northwestern road earned its interest charges, and in addition showed 18¢ per share on its preferred stock, While this is not of course a wildly prosperous condition, still it is a marked improvement over former years.

In 1923 the road's gross revenue was $169,000,000 against $156,000,000 in 1922. Thus, although expenses last year were $134,000,000 instead of $129,000,000 as in...

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