OCR Text |
Show RAILROADS TO ADD $10,000,000 PROFIT NEW YORK. July 11.-The Association Asso-ciation of Railway Executives Mon--U,v made publn the term- of a new c ontra, t recently i nten d into between b majority of the American railroads i and the American Railway Express company by which the railroads are expected to increase their earnings $10 000.000 a year The new contract which replaces Kne one expiring March i 1J23. pro-ldes pro-ldes that the railroads shall receive I SC. per cent of the revenue from 8X-j 8X-j press business and shall have mo' e voice in determining tro expenses to I be incurred b the express company In handling this business and if the profits of the express company exceed ex-ceed 6 per cent on its property in- ?es1 nt, the ex, ess up to 8 per cent shall be equally divided between the compan? end the railroads. If tho profits exceed 8 per cent 75 per cent of the exreis over that figure will go to the railroads and ".'5 per cent o the . ... pi - company. |