Railroads. In January and February, the net income of Class 1 U.S. railroads was $17 million, less than half of 1948's $37 million in the same period.
Retail Trade. Montgomery Ward & Co.'s iron-fisted Chairman Sewell Avery had bad news for stockholders: March sales were off 16.7% from 1948. Ward's biggest stockholder, Massachusetts Investors Trust (which owns 1.5% of the stock), had bad news for Avery: it would oppose his re-election as a director at next week's annual meeting. But chances were good that indestructible, 75-year-old Sewell Avery would be elected anyway.
Shipping. The U.S. Maritime Commission gave the Newport...
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