The Historians' Corner
L.A. Putnam Points Out Need For Fast Progress In 1952 by Railroad (Employees)
On November 1, 1950 our railroad was released from operation by the Court. This presented each of us with a challenge to work out our own destiny. It enabled us to reinvest funds salvaged from the railroad into modern tolls with which to operate the railroad. This process you have seen in operation for fifteen months. We are in the process of pulling ourselves up by our boot straps.
The acquisition of twelve Diesels has produced savings in operation from which
the bulk of our pay increases have come. We need more Diesels to get the maximum benefit from those we have. We need many other modern tools of various kinds to do our work more efficiently. So far, not a cent of the money from the savings in the operation of the Diesels has gone to pay for them-it has all been money recovered from salvage. This cannot continue.
On the average, in 1951 each one of us earned for the company $5,525, or $537. more than we averaged to earn for it in 1950. For doing this, each one of us averaged in 1951 to earn for ourselves $3,648, or $564. more than we averaged to earn in 1950. When our pay goes up on the average more than we increase our average earnings for the company there is less to buy the modern tools that we need to continue to increase the company earnings and our own pay. Increased production by every one in the family is our only hope of survival, and our only hope of further pay increases.
At the same time, it is vitally necessary to protect the company's earnings and expand them if possible. After careful study and planning we have commenced expanding our sales forces where there is better than reasonable certainty that the money spent will be returned in expanding our business profitably. We have added to our sales force the New York office, where there is reason to expect that the money spent will secure for us new and profitable business.
In fifteen months we have jointly accomplished a great deal but we have only scratched the surface. We must find ways and means to improve our combined efficiency. We must strive to progress faster in 1952 and I have great confidence that together we can accomplish that end. (Rutland Newsliner V.1, #1, 1952)
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