{"product_id":"innovations-in-railroad-treasury-operations-railway-systems-management-assoc","title":"Innovations in Railroad Treasury Operations Railway Systems \u0026 Management Assoc","description":"\u003cbody\u003e\n\u003c!-- HTML Generated by Auction Wizard 2000 - http:\/\/www.AuctionWizard2000.com\/ --\u003e\n\n\n\u003c!-- AW2KLOT#:30244 --\u003e\n\u003cbr\u003e\n\u003ctable style=\"width:98%;padding:2px;margin:auto;border:5px outset #673434;background-color:#FDF3D0\"\u003e\u003ctr\u003e\u003ctd style=\"border:1px inset #673434;margin:5px;\"\u003e\n\u003ctable style=\"width:100%;border:0px;padding:5px;\"\u003e\n\u003ctr\u003e\u003ctd\u003e\n\u003c\/td\u003e\u003c\/tr\u003e\n\u003ctr\u003e\u003ctd style=\"padding:5px\"\u003e\n\u003cdiv style=\"text-align:center\"\u003e\n\u003cspan style=\"font-family:Arial Black;font-size:1.5em;color:#000000;font-weight:normal;font-style:normal;text-decoration: underline;\"\u003eRailroadTreasures\u003c\/span\u003e\u003cspan style=\"font-family:Arial Black;font-size:1.5em;color:#000000;font-weight:normal;font-style:normal;text-decoration: underline;\"\u003e \u003c\/span\u003e\u003cspan style=\"font-family:Arial Black;font-size:1.5em;color:#000000;font-weight:normal;font-style:normal;text-decoration: underline;\"\u003eoffers the following item:\u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Times New Roman;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003e  \u003c\/span\u003e\u003c\/div\u003e\n\n\u003c\/td\u003e\u003c\/tr\u003e\n\u003ctr\u003e\u003ctd style=\";padding:5px\"\u003e\n\u003cdiv style=\"text-align:center\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.13em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eInnovations in Railroad Treasury Operations Railway Systems \u0026amp; Management Assoc\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:center\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.13em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003e  \u003c\/span\u003e\u003c\/div\u003e\n\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eInnovations in Railroad Treasury Operations Railway Systems \u0026amp; Management Association \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eSoft Cover \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eCopyright 1965 \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003e90 pages \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eThe economic outlook\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eCentralized billing benfits to shipper and railroad\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eCertified checks Once certified, can certification be cancelled?\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eInter-bank freight collection\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eShort term investments\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eLeasing versus owning railroad equipment  Account investment credit\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eEveryone talks about this changing world. However, many of us don't realize that changes are constantly occurring in our own area of responsibility. We seem to think of change in relationship to science, space, social matters and perhaps even politics. The purpose of the seminar conducted under the auspices of RSMA was, so to speak, to bring railroad treasurers and other interested financial executives up-to-date on innovations in this important area of the company's function. Perhaps no area of a company's operations have changed so much since the post World War II period than the treasury department.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eThe greatest change has been in cash management. For many years the treasurer fulfilled his job if he collected the bills within a reasonable or designated period of time and deposited these proceeds again within a reasonable time in the bank. Yesterdays \"reasonable time\" is no longer an acceptable performance. Treasurers today, in cooperation with banks and customers, have developed methods of speeding up the collection of bills. One of these methods is the inter-bank freight collection plan. Some people have called it the \"instant money plan\" because collected funds can usually be realized upon presentation of the freight bill to the hank. While the plan is relatively young, its use has been spreading. Of course, it isn't perfect and, no doubt, many changes will be made as its use becomes more widespread.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eMaybe we are putting the cart before the horse for we can hardly speak of speeding up cash flow without mentioning new billing practices. For literally decades, the railroads have been known for the many billing points spread over their systems. In effect, each billing location was a self-contained unit requiring the minimum of at least one employee and in many instances, several employees. The tremendous cost of such an operation is obvious. The delay in converting these bills into cash is again conspicuous. Progressive railroad treasurers have solved this problem by adopting a centralized billing point or several points. One railroad alone reduced its billing stations from several hundred to only a few. The savings in clerical costs were substantial. However, the adoption of centralized billing could probably have been justified alone on the benefits derived from the stepped up cash flow. A side benefit, though of substantial significance, is the elimination of numerous bank accounts throughout the system.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eIt has just been said that the treasurer has done much to speed up cash flow. Now, what has he done with this increased quantity of money available to him. Of course, he has continued to pay as before the numerous suppliers, meet the payrolls and capital expenditures for new projects which he hopes will bring additional business to his company. After meeting all these commitments, happily in most cases there is some cash left.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eNow, what does he do with this balance. In days gone by he probably left it in the bank earning little, if any income. Again, yesterdays acceptable practices are no longer acceptable practices today. After allocating sufficient funds to the hank to compensate it for the services rendered, he puts the balance to work and work it really does. Perhaps no other asset of the company produces more income with such minimum expense as does the investment of cash. Generally, the investments are made in securities with relatively short maturities. The largest part of the portfolio may be invested in securities with a maturity of less than one year from date of issue. Another characteristic of these securities is that most are readily marketable. Furthermore, there are techniques for disposing of certain securities before the maturity date, thus substantially increasing the yield. This is called paying the interest curve.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eOf course, tax exempt securities are frequently found in a portfolio.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eUp to this point, we have only talked about items which may eventually end up on the asset side of the balance sheet. Certainly a treasurer is concerned with more than only one side of this financial statement. Another major responsibility is to obtain funds when needed in a manner and through sources that are the least expensive to his company. Conventional sources, such as mortgages, conditional sales agreements, equipment trust certificates, have been available to him for a long time. These sources are still available and, in some instances, are the best method for obtaining new capital. However, the treasurer must be alert to any innovations or new plans that come into existence. One of the latest plans is leasing railroad equipment with the lessor retaining benefit of the investment credit. This new technique came into being as the result of changes in the Internal Revenue Code. The net cost to his company may be surprisingly low when compared with some conventional methods. However, it must he recognized that this method may not be equally advantageous to all companies. The treasurer should investigate this method before recommending a plan for his organization.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003e There are other areas, too, that are more passing interest to todays treasurer. Take economics  for example. Certainly a treasurer cannot make a sound judgment on investment of corporate cash or obtaining new capital without a working knowledge of this subject. For to do so could result in a substantial loss of income on investments or perhaps additional expense of debit capital.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eObviously, we have not indicated how any of the above results can be obtained. We have left this to the experts, the panelists for this program. We believe that the answers will be found in the pages that follow. In these pages will be enumerated the experiences and knowledge of experts in their area.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Calibri;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eIn closing, I know I would be deficient without a word on the quality of the panelists which presented this program. Without exception, every paper was outstanding. Again, reflecting the extensive experience and knowledge of the panelists.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eAll 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.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:center\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.13em;color:#CE0000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eShipping charges\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003ePostage rates quoted are for shipments to the US only.    Ebay Global shipping charges are shown. These items are shipped to Kentucky and then ebay ships them to you. Ebay collects the shipping and customs \/ import fees.   For direct postage rates to these countries, send me an email.   Shipping to Canada and other countries varies by weight.\u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:center\"\u003e\n\u003cspan style=\"font-family:Arial;font-size:1.13em;color:#CE0000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003ePayment options\u003c\/span\u003e\u003cspan style=\"font-family:Arial;font-size:1.13em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003ePayment must be received within 10 days. Paypal is accepted. \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:center\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.13em;color:#CE0000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eTerms and conditions \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.0em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eAll sales are final. Returns accepted if item is not as described.  Contact us first.  No warranty is stated or implied. Please e-mail us with any questions before bidding.   \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:center\"\u003e\u003cspan style=\"font-family:Arial;font-size:1.5em;color:#000000;font-weight:normal;font-style:normal;text-decoration:none;\"\u003eThanks for looking at our items.   \u003c\/span\u003e\u003c\/div\u003e\n\u003cdiv style=\"text-align:left\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\n\u003c\/td\u003e\u003c\/tr\u003e\n\u003ctr\u003e\u003ctd style=\";padding:5px\"\u003e\n\u003cdiv style=\"text-align:center;width:99.9%;margin:auto\"\u003e\n\n\u003c\/div\u003e\n\u003c\/td\u003e\u003c\/tr\u003e\n\u003c\/table\u003e\n\u003c\/td\u003e\u003c\/tr\u003e\u003c\/table\u003e\n\n\u003c\/body\u003e","brand":"RailroadTreasures","offers":[{"title":"Default Title","offer_id":44241124425924,"sku":"333524068809","price":22.5,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/2232\/7333\/files\/57_f3a051fd-54ce-46c2-bcfe-1776263b39a4.jpg?v=1727905903","url":"https:\/\/railroadtreasures.com\/products\/innovations-in-railroad-treasury-operations-railway-systems-management-assoc","provider":"RailroadTreasures","version":"1.0","type":"link"}