CHAPTER XII

THE MOVEMENT OF RATES SINCE 1870; RATE WARS

Contrast before and after 1900, 411.--Revenue per ton mile data, 412.--Their advantages and defects, 414.--Nature of the traffic, 416.--Low-grade traffic increasing, 416.--Growing diversification of tonnage, 418.--Present conditions illustrated, 419.--Length of the haul, 421.--The proportion of local and through business, 422.--Effect of volume of traffic, 424.--Proper use of revenue per ton mile, 425.--Index of actual rates, 426.--Its advantages and defects, 427.--Difficulty of following rate changes since 1900, 427.--Passenger fares, 429.--Freight rates and price movements, 430.

Improvement in observance of tariffs, 431.--Conditions in the eighties, 432.--The depression of 1893-1897, 433.--Resumption of prosperity in 1898, 436.--The rate wars of 1903-1906, 438.--Threatened disturbances in 1909-1911, 439.