It became known last week that a committee of Eastern railroad presidents, headed by big, bald Frederick Ely Williamson of the New York Central, was studying the possibility of cutting passenger fares. Thus an amusing cycle in the Eastern railroads' fare policy seemed soon due for completion.
Five and a half years ago Mr. Williamson headed another committee with exactly the same mission. Certain Western and Southern roads had tried cutting fares, had got an immediate rise in passenger revenue. Nonetheless, after due discussion, the Eastern roads decided against slashing the established 3.6¢-a-mile coach fare, 4¢ Pullman fare. Finally, in 1936,...
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