Business & Finance: U. Progress

Railroad men prefer to write annual reports almost exclusively with figures. Though he may be baffled by such things as average gross tons per freight-locomotive mile or average cars per passenger-train mile, an inquisitive stockholder may learn how many hopper-bottom gondolas he owns or what percentage of main and branch lines are laid with 131-lb. rails. As conservative as the roads themselves, official statements are perennially drab in format. Last week Union Pacific broke its tradition of severe grey covers by dressing up its annual report for 1935 with a picture of...

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