Proposed Amendment to the Transportation Act, 1920. Hearings ... on Section 15a ... Pt. 1 |
Common terms and phrases
additions and betterments aggregate amount August 25 average believe BENTON bill bureau BURTNESS capital carriers cent CHAIRMAN charges Chicago Commissioner committee commodities common carriers Congress considered cost DENISON determine effect efficient employees equipment ESCH Ex parte 74 excess earnings fact fair return fixed freight cars freight rates fund give Government ownership HARDIE HAWES hearing HINES HOCH HUDDLESTON increase interstate commerce act Interstate Commerce Commission investment locomotives MAPES March 31 matter ment operating expenses opinion Pacific paid principle provisions question rail railroads railway operating income rate of return reasonable rates recapture clause reduction reference repairs repeal of section reports result revenue SANDERS section 15a Senator La Follette SHALLENBERGER shipper situation statement strong roads Supreme Court tentative valuation tion traffic transportation act unserviceable weak lines weak roads weaker roads Western whole
Popular passages
Page 76 - ... so that carriers as a whole (or as a whole in each of such rate groups or territories as the Commission may from time to time designate) will, under honest, efficient and economical management and reasonable expenditures for maintenance of way, structures and equipment, earn an aggregate annual net railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of the railway property of such carriers held for and used in the service of transportation...
Page 147 - In making such determination it shall give due consideration, among other things, to the transportation needs of the country and the necessity (under honest, efficient and economical management of existing transportation facilities) of enlarging such facilities in order to provide the people of the United States with adequate transportation...
Page 78 - Act, in so far as deemed by it available, and shall give due consideration to all the elements of value recognized by the law of the land for ratemaking purposes, and shall give to the property investment account of the carriers only that consideration which under such law it is entitled to in establishing values for rate-making purposes.
Page 76 - In the exercise of its power to prescribe just and reasonable rates the Commission shall initiate, modify, establish, or adjust such rates so that carriers as a whole (or as a whole in each of such rate groups or territories as the Commission may from time to time designate) will, under honest, efficient, and economical management and reasonable expenditures for maintenance of way, structures and equipment...
Page 79 - The new Act seeks affirmatively to build up a system of railways prepared to handle promptly all the interstate traffic of the country. It aims to give the owners of the railways an opportunity to earn enough to maintain their properties and equipment in such a state of efficiency that they can carry well this burden.
Page 62 - In so prescribing and determining the divisions of joint rates, fares and charges, the Commission shall give due consideration, among other things, to the efficiency with which the carriers concerned are operated, the amount of revenue required to pay their respective operating expenses, taxes, and a fair return on their railway property held for and used in the service of transportation...
Page 149 - ... management and reasonable expenditures for maintenance of way, structures and equipment, earn an aggregate annual net, railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of the railway property of such carriers held for and used in the service of transportation : Provided, That the Commission shall have reasonable latitude to modify or adjust any particular rate which it may find to be unjust or unreasonable, and to prescribe different rates for different...
Page 81 - The state cannot Justify unreasonably low rates for domestic transportation, considered alone, upon the ground that the carrier is earning large profits on its interstate business, over which, so far as rates are concerned, the state has no control.
Page 96 - In view of the existing depression in agriculture, the Commission is hereby directed to effect with the least practicable delay such lawful changes in the rate structure of the country as will promote the freedom of movement by common carriers of the products of agriculture affected by that depression, including livestock, at the lowest possible lawful rates compatible with the maintenance of adequate transportation service...
Page 6 - A surcharge upon passengers in sleeping and parlor cars may be made amounting to 50 per cent, of the charge for space in such cars, such charge to be collected in connection with the charge for space, and to accrue to the rail carriers.