Financial Community and the Railroad Treasurer Railway Systems & Management

Financial Community and the Railroad Treasurer Railway Systems & Management

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Financial Community and the Railroad Treasurer Railway Systems & Management
 
The Financial Community and the Railroad Treasurer Railway Systems & Management Association Soft Cover 1966 100 pages
The railroad industry of the 1960's is in a period of transition. The year 1961 represented a low-point in almost every quantitative statistic that could be used to describe railroad operations. Many analysts had counted us out and gloomy articles in major publications talked of the inevitability of nationalization as the only means of saving the railroads. Happily, this has changed and railroads are now enjoying an almost continuously increasing volume of freight traffic. Some headlines for magazine articles even refer to the railroads as a growth industry. But, this vigorous regrowth of traffic coupled with a rapidly expanding business technology has made the job of today's Treasurer quite different from his 1961 counterpart. For example the average Treasurer in 1965 as compared to 1961:
-financed a capital expenditure program 2 1/2 times larger,
- managed a short-term portfolio 50 per cent larger,
-supervised the granting of credit and the collection of funds relating to a 70 per cent increase in revenues,
- and thereby contributed to a doubling of his company's net profit and return on net worth. And he probably did all this with at least 20 per cent fewer employees.
In The future gives no sign that this pace of achievement will do anything except accelerate. And while present daily activities continue to go on, mergers, new legislation, expanding capital programs, a changing credit environment and diversification programs are all acting to demand the action of the executive and to focus his attention into new areas and onto less well known subjects. Further, not only is the technology of railroading changing but so is that of every other industry with which we do business. Magnetic ink encoding of checks and drafts has revolutionized bank procedures. And in the process it has opened a whole new range of service opportunities to the alert Treasurer. Similar innovations have occurred in other areas. Just keeping abreast of these internal and external changes is a real problem.
It is here that a program such as this RSMA Seminar on "The Financial Community and the Railroad Treasurer" has its purpose. First, there is the area of education. The knowledgeable Treasurer already has a vast store of information about his job. The latest developments in the fields of cash flow, money markets, and credit can be presented by experts in these subjects without any necessity for a presentation of a simpler theory.
Second, it permits each Treasury officer to keep aware of the progress of the experimental business applications that are being developed. Particularly in the areas of financing and accounts receivable collections, we are experiencing a rapid implementation of new ideas. When put in practice these ideas often work differently than the theory predicted. Being out-of-touch can be expensive so it is important to keep fully informed as these projects mature.
Finally, there is the opportunity for individual communication on subjects of interest. The perspective of each company and correspondingly the emphasis of each person is necessarily different from the rest of the railroad community. An interchange of ideas proceeding from this diverse background can yield a trustworthy inventory of "who is doing what" which can be called upon when a future occasion demands it.
This RSMA seminar has admirably performed the tasks which were demanded of it. It has provided both the "how-to" and "cut-and-try" approaches to problems as appropriate. Consequently the papers in this publication should serve as a basic and practical reference in the Railroad Treasurer's library for some time to come.

All pictures are of the actual item.  If this is a railroad item, this material is obsolete and no longer in use by the railroad.  Please email with questions. Publishers of Train Shed Cyclopedias and Stephans Railroad Directories. Large inventory of railroad books and magazines. Thank you for buying from us.

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