OCR Text |
Show The Railroads in 1930 The railroads of the United States have done a fine work this year in mtintaining employment and business busi-ness progress. It is reported that capital expenditures ex-penditures by the" lines during the lirst six months of 19S0, for new equipment and additions and betterments bet-terments to railroad property, totaled to-taled $468,305, 000 $118,000,000 more than in 1929. Yet, during the same period, railroad traffic was less than at any time during the six months' period was at the rate cf about 3.G1 per cent, ac compared with .5.52 per cent last year. We have had a business depression depres-sion but it would have been a great deal more serious nad it not besn lor the public spirit of the railroads. rail-roads. They have gone ahead, in the face of deciiniing revenues, improving service and doing a fint, work not only for the benefit oi their employes and customers but lor the nation as a whole. It is impossible for any industry, no matter how willing it may be, t;i progress indefinitely without reviving re-viving an adequate profit for the work it does. The railroads are the life-blood of industry and of agriculture and essential to community com-munity prosperity. |