Business & Finance: Lower Fares

Most merchants know that when their goods will not sell, a sure way to move them is to cut prices. Sales of something the railroads sell—passenger transporta-tion—began to fall after the War and they kept right on falling until last year when they were 70% off from 1920. Untrained as merchants, railroadmen believed that the traffic they had lost to the automobile, airplane and bus was lost for good & all; fare-cutting would merely reduce what little passenger revenue they still had. Early this year President Whitefoord Russell Cole of Louisville &...