Show 5 5 5 S PACIFIC'S REPORTS S L LOOKED 0 0 KED 0 FAVORABLY ON-FAVORABLY N F A V 0 R A B L Y F I- I 7 I IS S 5 Now New ow York July Tuly 4 f t the railroad S S reports published today ofay those hose of or the theS the'S S 'S S Southern Pacific and anti Pacific S S were considered rn favorable rable In view of ot S S tile the drastic reduction made maJo In operatIng operating ing expenses The Southern I for tor May showed d a R loss of or t CJ 9 S S and u a decrease In Lii operating expense S S of or Net a S of oC only ooh tUO Union Pacific lor or S. S r In 1 y reported a u decrease u of S hi In gross gro and a reduction In operating i i f.- f. expenses of or U t leaving ln net dc sic de- I f I S |