1958 - N&W Reports 47 Per Cent Drop in February Income

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Roanoke Times - March 26, 1958

N&W Reports 47 Per Cent Drop in February Income

   Norfolk and Western Railway's net income in February was 47 per 
cent below that of the same month of 1957.
   Net income last month was $1,180,500 compared with $2,246,026 in 
February 1957.
   A sharp drop in business last month caused the major decline. 
Business was exceptionally good in February 1957.
   N&W's operating ratio climbed from 77 to 86.86 last month. That 
means that 86.86 per cent of income was spent for operation of the railway.
   Freight revenues dipped $3.9 million or 23 per cent, and passenger 
revenues dropped 5 per cent to $491,000. Total operating revenues 
declined 22 per cent.
   Operating expenses were cut 12 per cent or $1,680,000. Taxes were 
lower, but still amounted to $877,000. Income from equipment rentals 
dipped 60 per cent to $342,000.
   Net income for January and February totaled $3,351,838, down a 
third from income of $4,977,837 in the first two months last year. 
Freight revenues slipped 17 per cent - almost $6 million - and 
passenger revenues dropped 12 per cent. The operating ratio rose from 
76.19 to 82.08.

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- Ron Davis, Roger Link