Ogden Standard-Examiner | 1923-07-16 | Page 2 | Panama Cuts Rail Profits

PANAMA I RAIL PROFITS Felton Asserts Western Lines Not Making Fair Earnings r CHICAGO July U 19 Western Western railroads serving the th large lare tural fc tural sections or of o the country are re r not harn sharing b In the general i n r return return- log Ing of Souther and lines 10 d 1 ellon president of the Chicago Great Western railway y arid and chairman ot oth the Western Hallways Hallway's on public relations relation d Clara In a statement Sunday Y nAJ G I Statistic just made public show how that they are arc earning an annual return ot of 4 43 per cent on the val val- valuation valuation while railroads as a a whole In the entire country are Fe r earning 6 33 tS per cent he said The They rail fail failed Is ed In the first flut fh the fise 0 months month by 40 00 to 10 earn c rn the th 01 9 per pel percent Percent I cent held reasonable and nd fair by bytho bythe the tho Interstate commerce commerCII slon sion This has hal h s been partly due du to the tho competition of the th Panama canai which has haa taken much traffic whIch these railroads ds would oth- oth otherwise otherwise oth otherwise e ha secured President Felon Fellon said They are aro ar large carriers or ot ng- ng agricultural ag agricultural products hATES REDUCED Trying to help the tannin they have made modo especially large larce reductions reductions In freight rates on agricultural tural tural products The Tho avera o rote rotc at 01 western lines I Ii 16 per cent I 1 sS s than In 1921 1821 and 13 la per cent than The Tb railways In western terri tern territory tory tory operate snore more mor than miles ot of line or more moro than one one- one halt half the tho th mileage mlle CB ot Of the country and it Is this condition of ot the th railroads owning the th mileage if not ot of a tew that is Important to the th people they serve