Business: Switching from Red to Black

The railroads, which took some of the recession's hardest blows, are fast getting back on their feet. Freight carloadings for the week ending May 9 jumped 26% above the comparable week of 1958, to 677,398, a new peak for the year.

The improvement in loadings was showing up where it counted: in earnings. The Pennsylvania, which lost $4,727,327 in April 1958, made $4,000,000 last month. The Great Northern also switched from $1,665,061 in the red a year earlier to $1,193,081 in the black last month. The Missouri Pacific, which just managed to earn $13,091 in April 1958, cleared $500,000 in April 1959....

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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