Philadelphia Daily News from Philadelphia, Pennsylvania • Page 81

'Good' Railroad Year Is Linked to Several Big Ik of the 60's. the forces that advertising ment. entertain- THERE ARE forces at work, however, which. If allowed to operate, would eventually return the rails to their rightful place in the nation's economy. One of these consists of mergers designed to reduce costs and improve service by eliminating duplicate facilities.

Mergers cannot be been accelerating. Steel capacity is now well beyond aemana. ana tnere appears to be little pressure to accumulate or expand Inventories. The one bright spot has been sales of automobiles. None of this is to say that our national economy is not operating at a high level.

It is and will probably continue to do so in 1963. with gross national product somewhat above 1962. to 5 i i.i' Wo 1l I N--- 7 ALLEN J. r.RKIMM (.11 ('im ii -w were to start and sustain i such an expansion are not yet effective. I If tax reductions are put In effect early In the new year, and If these and other measures are successful In stimulating the economy, the outlook for rail traffic might be Improved.

But the chance is remote that this change for the bet-i ter would be enough to lift earnings for the year to any I significant extent. 1 A MAJOR difficulty, especially for Eastern lines, is that activity in steel and ether heavy Industry has no' Unfortunately for the rails, ernization of outmoded work much of gross national prod- rules. Also necessary for uct is in expenditures which genuine and permanent prog-Involve little demand for rail ress is modernization of gov-transportation eminent regulation of missiles, health, cosmetics, transportation 5 2 Br ALLEN J. GREENOtGIl President, Pennsylvania Railroad The prospect of satisfactory railroad earnings in 1963 is not good. The outlook is for about the same or possibly somewhat less volume of traffic than In 1962, which resulted in industry earnings that were extremely unsatisfactory.

Although many had expected that by now an industrial expansion would be under way which would run through the remaining years Port Expected To Remain No. 1 By PAL'L MarMl'RRAY Executive Director. Delaware River Port Authority There is abundant evidence that when foreign trade statistics for 1962 are completed, they will show that our port was again No. 1 in international tonnage. It already has enjoyed this distinction for two consecutive years and there are good prospects that 1963 will be our fourth year in a row in this top spot In combined imports and exports.

Everything points to a broadening in all waterborne commerce in the years ahead as a number of progressive plans reach fruition. A most-important factor In our brightening outlook is the expectation that, by next June, the U. Army Corps of Engineers will complete I he multi-million-dollar Del-, aware River dredging project. This is deepening the main ship channel to 40 feet. MEANWHILE, our promotional efforts are being expanded to take fullest advantage of this additional selling tool.

An example of the stepped-up program Is the recent opening of a new branch office In Brussels. It puts us In a position of proximity to importers and exporters on the continent. THE ECONOMIC future of the whole Delaware Valley will be enhanced by Port Authority plans for two addl-t lonal bridges across the Delaware River and construction of a high speed transit system to communities in Southern New Jersey A look at what happened in the wake of the Benjamin Franklin Bridge opening shows that new plants sprung up within a wide radius Suddenly, It was convenient for workers to get to their Jobs nnd for the firms themselves to move their goods to market. Engineering studies estimate that vehicular traffic across the Delaware will Jump spectacularly In the years ahead. They foresee the total more than doubling by the year 2000.

For that. 44 traffic lanes of vehicle bridge capacity would be needed. Or perhaps 50. At the present time, we have 21. TRAFFIC CENTER 1 1416-1418 I Philadelphia National vl Bank Building I I Broad and Chestnut Sts.

Sairatta Fe stands ready to serve you in PlhmfladellipMa LOcust 8-5060 We want our customers to have quick information about Santa Fe freight and passenger services. Also facts about industrial sites. That is why we maintain an office at the address shown above. Your inquiries get prompt answers because this office Is in constant touch with other Santa Fe offices all over the country. Drop in, or give us a call whenever you want information about Santa Fe services.

That's what we're here for. P. S. You can buy tickets for your Santa Fe trip in this office John J. Weiss, General Agent Philadelphia 7, Pa..