Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-30
RAILROADS SHOW
LARGE NET INCOME;
EXPORTS INCREASE
Continued From First PaRe.)

feet and the many efdciencies and
economies that have been made posi-
bic by large capital expenditures in the
past six years.
Locomotives and freight cars are In
the best physical condition In recent
years. Due to the use of more power
ful locomotives and cars having a larger
capacity than formerly, trains of greater
tonnage have been sent over the rails
and with greater dispatch than in pre-
vious years.
Industry Stimulated.
by thus speeding up the wheels OF
their locomotives, by converting car
shortages into SURPRISES, and by improv-
ing many other factors Of operating eff
ficiency, the railroads have stimulated
the pulse of industry, have helped to
stabilize buying and selling, have en-
abled manufacturers and merchants to
reduce inventories and have made a
vital contribution to- the economic
progress Of the Nation"
Capital expenditures last year totaled
$500, 100000, an increase of approxi-
mately 1928, 1000 900 over 1928, Ashton
said, in addition to about 81 800 900 ,00C
for operation and maintenance sup
plies and $4,000, 0oO, 900 In wages to en-
ployeS.
Passenger trafIlc was less than for any
year in the last 20, he added, amount
ing to 81 900 000, 900 passenger miles, q
reduction Of one-third from the record
year of 1920.
Exports Increasing.
Automobiles, parts and accessories
valued at Sass, 1888 900 were recorded al
the head of an increasing export trade
for the first nine months of 1929 in q
report today by the foreign commerce
department of the Chamber Of Com
merce of the United States.
Pointing out that the total exports
of $4,000, 900 for the nine-montf
period was slightly more than 8 pei
cent above the total for the same pc
Rod year ago, the report said thai
the 221 per cent increase Of the au-
was followed In order by unmAnufac.
tured cotton, gasoline, refined copper
and agricultural machinery.
The unmanufactuEed cotton sales
abroad were valued at $444, sol 900, q
decline Of 14.9 per cent as compared
with the first nine months of 1928
while gasoline exports were valued al
$l97, 900, an increase Of l43 pei
cent.
Copper Values Rise.
Refined copper declined sharply ir
quantity, but with an average increase
OF cents a pound, so that the total
value of this class Of exports, the re-
port said, was $ll7,044 900, or 1913 pei
cent larger than the same period OF
1928; but the Quantity-649,6O 500 ,0OC
pounds-was IL per cent less than in
the same period of the previous year.
Exports of agricultural machinery
the report continued, showed signs Of
slowing up, but the value Of this class
of exports In the period was $1O9, 72l, :
900 and was 81. above the same perioC
Of last year. Electrical machinery eX-
ports amounted TO 1921 900.
THE present analysis OF our nine
months foreign commerce." the report
said, comes at time when the minds
Of business men are centered upon the
sterilization and promotion Of Amer
icas industry and trade.
Export Trade Balance Wheel.
FOR years export trade has been the
key to business stability in many In
duStries. It has provided q permanent
outlet abroad for American production
during good times and dull. Wher
domestic trade has been in recession II
has often kept In motion what would
otherwise have been an idle plant. Il
has taken up the seasonal slack.
AT this moment in our national eco
nomic history 1t Is heartening to find
so many export lines making rapic
progress In overseas markets and tx
note that export trade as q whole dur
ing the first nine months of 1929 Is vel
above both the 1928 trade and thS
average Of the trade for the past five
years"
The report showed that leaf tobacco
trade declined 2.8 per cent to q tota
value Of $S4,747,00O. Wheat demand.
increased rs per cent to $7S. 604. 600, but
were $751; per cent below the 1924-i92S
average.
Finished manufactures, tfH report
said, constituted more than '@Ilf of the
total export and increased 10 per cent
in the nine months.