STATE OF BUSINESS: Rally on the Rails

In the recovery from the recession, even the hardest-hit industries are showing sharp improvement. Last week the laggard railroads were back on the track: carloadings rose to a 1958 high of 667,277 cars, only 8% under 1957. Several of the carriers deepest in red ink nudged into the black for the first time in almost a year.

The Pennsylvania, biggest in the industry, reported an August profit of $3,288,600, slightly ahead of August 1957; the New York Central squeaked into the black by $274,777. Western roads showed their highest earnings of the year; Southern Pacific's August earnings of $5,200,000 topped...

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