METROPOLITAN TRANSIT--: Horsecar Management in Expressway Age


AMONG U.S. industries, none has a darker future than municipal transit. In only ten years, the transit companies in U.S. cities have lost almost half the 23 billion fares they carried yearly. At the same time, operating costs have soared (wages and equipment up almost 100%), and operating income (before bond interest and stock dividends) has plunged from $149 million to $41 million. Since 1947, 40 major companies have gone broke. Because of the rapid deterioration of transit facilities, downtown merchants are losing trade to the suburbs, office workers are quitting jobs in downtown business districts, and...

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