Business: Scent

The Press sniffed a good railroad story last week. A committee to look into railroad problems was appointed by the National Association of Mutual Savings Banks, the members of which own 13% of all railroad bonds. And vague rumors were afloat in Wall Street that Calvin Cool idge, Alfred Emanuel Smith and others whose voices could command the respect of investors and legislators, would soon look into the railroad situation. There was truth in the story, though its exact nature was probably to remain nebulous for some weeks. It was apparent that the railroads,...

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