Action in the Senate

The solvent U.S. railroads are now earning their fixed charges better than two and a half times over, but some of their bonds are still selling at discounts up to 40%. On March 2, to be exact, some $5,000,000,000 of nonbankruptcy rail bonds had a market value of about $3,500,000,000.

This is a situation to make a railroad treasurer's mouth water. Everyone agrees that the railroads should get their fixed charges down, so why not use some of their war profits to buy back some of their bonds at bargain sale prices? The...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!