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Wealth, Location of Rail and Steel, Traced by Officials
The American Association of State Highway Officials traced ownership and earnings of New York headquartered rail and steel interests for road‑fund sources. Union Pacific and Southern Pacific taxes go to New York though earnings stem far west. U S Steel paid 16 million in New York with most stockholders outside New York. Banks show 8 percent of New York deposits from outside New York. The report argues centralization and cross‑state finance shape prosperity, not local ownership.
MENTIONED IN THIS ARTICLE
Washington
Railway and Steel Corporation
New York
American Association of State Highway
Union Pacific
Southern Pacific
Omaha
New Orleans
Western
Federal Treasury
United States Steel Corporation
States
Alaska
Canal Zone
Hawaii
Philippine Islands
Porto Rico
Pennsylvania
Association
United States Treasury
New York City
New York State