Business & Finance: Losses & Loadings

A doleful place is the Bureau of Railway Economics of the Association of American Railroads in Washington, where in a series of cumulative and comparative statistics the woes of the U. S. carriers are written. Last week the Bureau regretfully announced that in the first seven months of this year the 145 Class I railroads earned 1.69% on their investment—down from 1.99% in the same period of 1934. Gross revenues were maintained at virtually the same level but net operating income dropped $40,000,000 to $221,000,000 for the...