OCR Text |
Show RAILROADS MAKE i BETTER SHOWING J tThe Interstate Commerce Com-I Com-I mission Is now making public tho I railroad revenue for tho month of flJuly. In piactlcally every Instance the roads make a vcry much better showing than In July, 1920. When wu consider that a year ago tho roads wero under the control of the U. S. Government wo aro not, of course, surprised at the better showing show-ing made In July, 1921, when tho transportation companies arc enjoying enjoy-ing all tho supposed benefits of prl-fvato prl-fvato management. I As wo have pointed out so often, however, moat of the increase in net operating Incomn is due to tho drastic dras-tic curtailment In personnel as woll rr what so my students of tho situation situa-tion state to bo an alarming rrduc Hlon In tho sura sot aelde or expended expend-ed for maintenance, of way and equipment. Such savings aro likely, gater on, to1 prove a disagreeable boomerang. I For this reason wo cannot becomo, Jfcvcn now, too enthusiastic over th Immediate future of railroad shares, jwo realize, however, that many rall-B-oad stocks aro evidently on tho bargain bar-gain counter. |