The nation's taxicab business has slumped as much as 25% below the normal summer slack. Parmelee Transportation Co., biggest U.S. company, with 4,167 cabs in New York, Chicago, Pittsburgh and Minneapolis, figures that this year's net may go as low as $500,000 (its boom-peak net: $2,000,000 in 1946). For many a smaller company, trying to meet more than doubled postwar costs on prewar fares, the slump means red ink.
Last week the Taxicab Bureau, Inc. of New York reported that Manhattan cab drivers were no longer netting the $34 a day they need...
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