Business & Finance: Rails & Orange

In the house of the Public Works Administration hang many stockings. Some, like the Naval construction program, have long since been filled. Last week the railroads' stocking was stuffed with $135,000,000—part of President Roosevelt's efforts to jiggle the capital goods market (TIME, Oct. 16 et seq.}. For more than 50 U. S. carriers there was $51,000,000 with which to buy new rails at the new price of $36.37½ (the price itself was a separate gift from the Great White Father). But the orange in the toe was pulled forth by Pennsylvania R. R. To...

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