Business: Downgrade

While other industries are leveling off, the rails have yet to hit bottom. Though a spurt in March carloadings brought rail revenues up, April carloadings turned down, and total revenues, which were also up in March, will probably follow them down. Western roads will be less hard-hit because of an expected boost from bumper grain crops, but Eastern roads face reduced shipments from heavy industry and continuing heavy passenger deficits. The Baltimore & Ohio reported an April drop of 24.6% from 1957 revenues, a decline of 57% in net income. The Pennsylvania's April deficit of $4,727,327 ran its loss so far...

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