More Profit

Improved industrial conditions is the chief cause assigned for earnings of Class 1 railroads during April amounting to 6.5% (on an annual basis). This is almost twice last year's earnings. Freight traffic increased 55% during the year, but cuts in freight rates made the increase in revenue only 25%.

The improved conditions were felt chiefly in the East. Eastern roads earned 7.93%; Southern roads 7.18%; Western roads 4.52%.

Predictions are that the large earnings will continue during 1923. It is not expected, however, that there will be any pronounced cut of freight rates before next year.