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Santa Fe Rail Revenues Fall in First Quarter of 1962
Ernest S Marsh, president, told stockholders at the 67th annual meeting in Topeka that Santa Fe Railway System’s net income for Q1 1962 dropped to 7,352,335 dollars from 8,095,711 in Q1 1961, a 9.2 percent decline amid weather costs higher wages and new payroll taxes. He cited stronger carloadings later in the year and a 60 million dollar capital program including 45 diesel locomotives and 1,400 freight cars, plus a new Arizona main line to improve Phoenix-area efficiency. The report noted favorable moisture in Santa Fe agricultural areas, possible winter wheat crop reductions, and optimistic long-term revenue prospects despite wage disputes and policy reforms.
MENTIONED IN THIS ARTICLE
Santa Fe
Ernest S Marsh
Topeka
Marsh
Arizona
Abra
Skull Valley