Profits. Half-year earnings hit a new high, reported the Federal Reserve Board after a preliminary sampling of 629 industrial corporations. Their combined take of $2,136,000,000 was 23% over last year's.
Airmail. U.S. Post Offices began to take domestic air parcel post (over eight ounces and up to 70 pounds). Private companies will continue to handle air express and large commercial shipments.
Railroads. The Pennsylvania Railroad came up with a $216,700,000 improvement program, biggest in its 102-year history. On the Pennsy's shopping list are 192 new diesel engines and 395 new passenger coaches. Eventually all its through trains will have children's playrooms...
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