ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, June 26, 1996 TAG: 9606260033
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
The nation's fleet of rail freight cars increased to its highest level since 1989 at the end of March, the Association of American Railroads said.
Railroads, shippers and private car companies owned 1,222,090 freight cars April 1, up from 1,218,927 Jan. 1. A total of 14,690 new cars were added to the fleet in the quarter, 1.5 percent more than in the fourth quarter of 1995 but 11.7 percent fewer than last year's first quarter.
The nation's largest railroads, which include Norfolk Southern Corp., added 232 new locomotives in the first quarter, 16 percent more than the previous quarter but 3.3 percent fewer than a year ago. The locomotive fleet at the nation's largest railroads stood at 19,545 units as of April1. |-Staff report
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nThe Virginia Tech Airport was awarded a grant of $11,680 by the Virginia Aviation Board last week to help pay for continued work on the airport's parallel taxiway. The state money will be combined with $146,000 in federal funds and $2,920 in local money to pay for the work.
nFieldcrest Cannon Inc., Eden, N.C., textile maker, said Tuesday it has hired Prudential Securities Inc. as adviser for the possible sale of its blanket manufacturing division. There is no sales agreement pending, and the company said its towel mill in Henry County would not be affected by a sale. The division had net sales of $71 million in 1995 and net assets of about $40 million. Proceeds from any sale would be used to reduce debt and invest in the company's remaining core businesses.
LENGTH: Short : 45 linesby CNB