CN says volumes down across all commodities

CN says volumes down across all commodities    Canadian National Railway Co. said net income in the third quarter ending September 30 was $461 million Canadian dollars, down more than
16 percent when compared to the same period the prior year.
   Revenues were $1.8 billion Canadian dollars, 18 percent below the same 2008 period.
   E. Hunter Harrison, CN president and chief executive officer, said there was “significant weakness across markets affecting our freight volumes. Revenue ton-miles for the quarter declined 11 percent, but that was a sequential improvement over the 14 percent revenue ton-miles reduction in the second quarter of this year.”
   The company said all commodity groups saw revenue declines, including metals and minerals, 32 percent; automotive, 25 percent; forest products, 24 percent; intermodal, 20 percent; petroleum and chemicals, 11 percent; coal, 9 percent; and grain and fertilizers, 9 percent.