(See front cover) If one man were put in charge of all U. S. railroads, he would quickly become aware of the following outlines of his problem:
¶In 1934 U. S. Class I railroads took in about $3,500,000,000. Operating expenses and fixed charges used it all up and a little more besides. For that year the roads had a deficit of $16,887,000.
¶In 1935 the roads took in a little more than $3,600,000,000. But wages, material costs, other operating expenses also increased. Estimates of 1935 earnings vary from a $15,000,000 deficit (Bureau...
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