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 18ยข 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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