The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-01-01
BUSINESS SURVEY SHOWS
A GAIN IN PAST YEAR

Grafton expenses were brought about
by sharp cuts In the number OF cm-
pioyes and neglect Of necessary main
snance work Their. were several
receiVerships. a reduction in the dl-
vidend by the Pennsylvania railroad
and a strike threat that Il carried INTO
effect would have tied VI the trans
por itiou system OF the untiuu
Demands from shippers for freight
rate cuts were met by statements uf
railroad executives that wages must
come down before rates. sharp at
lacks were made by the roads on the
railroad labor board and national
agreements, which the roads claimed
SOS them S300, 00O. 600 in 1920 The
controversy resulted In "a break be-
tween the board and the rennSyl-
vania road
January - the railroad executives
planned a $500, 600. 600 wage cut.
President Wilson refused to intervene
in the between men and
management started at this time. lie
referred the matter to the labor
board h interstate commerce
com mission. February - the board
declined "a request of the railroads 90
abrogate the wage schedules. This
was followed by the railroad presi-
dents deciding 10 stand clear OF the
national board OF adjustment aud vut-
! AHk W fAh AAfNA NNNAlAAAAffNa
March 9 the Pennsylvania railroad
announced a cut in wagc affecting
2lO, O0U men The lead was followed
by other companies. and an an
nouncement by the firemon's orgHn-
i2ation that the four big brotherhood
would fight the cut. Railroad labor
board. which June I announced n ~
per cent cut in wages. to become ef-
fective July I. with an estimated saw
ing to the roads Of $500. 900. 600. Prior
to this the board ended the nationcl
agreements. upheld the open shop
and ruled to the wages OF un-
skilled employees.
Controversies between n roads
and employees and between the roads
and the labor board continued un-
ahatod until September 20. when the
railroad employees expressed them
lelves In favor Of a strike. October
10 the union leaders ordered a ma
tion-Wide strike. effective November
l. but on Intervention by the laboi
board the -brutherhuods called tn,
strike off October 20. November 80
the open shop and revised working
rules which was expected to ave IN,
roads fh0,0n9, O0U and cut the pay ol
40O. 0O0 employees. the new reguln.
uuns governing various crafts To sup
plant the Old national agreements
The board later ruled on shopmeu''
overtime pay, which resulted in "A fur
Their pay cut for 500. 900 workers.
While the pay M working agree.
ment controversies were on Prcsiden
Harding demanded lower rail rates
The roads c~ontended the July ] wag,
cut was not sufficient to reduce tn,
then existing rates. Rates on farm
products and other commodities. how
ever, were reduced at various poiati
IN m Effort To stimulate traffic. tn,
cut, however. not ba,ng general. al
though lumber n ore rates were
cut In some districts,
Decreased operating expenses ant
reduced maintenance expenses show
ed in the monthly reports of the road.
until In October, net earnings OF tn
leading roads totaled S1Oi 1861 s3
uhe largest in Is months, and equa
to a 50 per tent return.
Sales OF railroad equipment trus
certificates by the government In tn
three months totRled ti32.slO.VO
other important railroad events o
the year were the filing Of the segre
cation plans by the Reading Com
pany and the LehiSh Valley Railroa,
company h Leasing OF car shops q
private interests by several biz roads
a statement by the Interstate com
morce commission that nearly 500.
100000 new construction by the rail
roads had been proposed or begun II
tho IS months ended October 80. an,
a statement hy former Director Gen
eral Hines that the railroads nee,
81. 900. GOO. 0oo a e a Tor improvement
to property
December : u was reported by IN,
railroad executives that 62S.IbS idll
cars were on the railroad lines % m,
United States. an increase OF 72.1Si
In one week. The officials stated tina
] NMn 81 - 81 -