Publisher's Synopsis
Excerpt from American Railroads: Government Control and Reconstruction Policies
Up to the middle of the decade 1900 to 1910, the steady growth in traffic and the economies from improved Operating methods, enabled the rail roads to absorb the burden of higher wages and other costs, and to move the traffic at lower rates per ton-mile. The net income was sufficient to pay a reasonable rate of return on securities and to attract new capital when needed. New lines.
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