Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1917-12-27

boards Of directors. receivers. officers and
employees OF said systems Of transporta-
tion. Until and except so far as said
director shall from time to time by
general or special orders otherwise pro-
vide, the board of directors, receivers.
officers, and employees of the various
transportation systems shall continue
the operation thereof in the usual and
ordinary course of the business of com
mon carriers. in the names of their
respective companies.
Until and except so far as said direc-
tor shall from time to time otherwise
ty general special orders deter
mine, such systems Of transportation
shall remain subject to all existing
statutes and orders of the Interstate
commerce commission. and to all statutes
and orders of regulating commissions
of the various states in which said
systems or any part thereof may be
situated. But any orders, general or
special hereafter made by said director
shall have paramount authority and be
obeyed such.
Nothing herein shall be construed as
now affecting the possession, operation
ard control of street electric passenger
railways, including railways commonly
called interurbans. whether such rail-
ways be or be not owned or controlled
by such railroad companies or systems.
BY subsequent order and proclamation,
IL and when it shall be found neces-
sary or desirable. possession, control or
operation may be taken Of all or any
part of such street railway system In
cluding subvays and tunnels; and by sub
seuuent order and proclamat tion possess
. sion, control and operation in whole or
in part may also be relinquished to the
owners thereof of any part of the rail-
road systems or rail and water systems,
possession and control OF which are here
by assumed.
1.-The director shall as may
be after having assumed such possession
and control enter upon negotiations with
ba ms n
ments for just and reasonable compen-
sation for the possession, use and con-
troll of the respective properties on the
basis of an annual guaranteed compen-
sation. above accruing depreciation and
the maintenance of their properties.
equivalent. as nearly as may be. to the
average Of the net operating income
| thereof for tho three-year period ending
June 80. 1017.-and results of such nego-
tiations to be reported to me for such
! action as may be appropriate and law
| full.
But nothing herein contained, ex-
pressed or implied. or hereafter done
| suffered hereunder shall be deemed
| in any way to impair the rights of the
| stockholders. bondholders. creditors. and
! other persons having interests In said
+, systems of transportation or in the profits
| thereof. to receive just and adequate
compensation for the use and control
; and operation Of their property hereby
! assumed.
| Regular dividends hitherto declared
! and maturing interest upon bonds, de-
bentures and other obligations. may be
| paid In due course and such regular divi-
| dends and Interest may continue to be
paid until and unless the said director
shall from time to time otherwise by
| general or special orders determine; and
subject to the approval Of the director,
| the various carriers may agree upon and
arrange for the renewal and extension
| of maturing obligations.
| Except with the prior written assent
of said director. no attachment by Mesne
| process or on execution shall be levied
| against any of the property used
| by any of said transportation systems
| in the conduct Of their business as COM
mon carriers but suits may be brought
| by and against said carriers and judg-
| ments rendered as hitherto until and
except far said director may, by
general or special orders, otherwise deter
mine
From and after L. o'clock on said
@Sth day of December, 1917. all trans
. portation systems included in this order
and proclamation shall conclusively be
deemed within the possession and con-
troll of said director without further act
or notice. But for the purpose OF
; accounting said possession and control
shall date from IL o'clock midnight on
December 81, 1917
in witness whereof, have hereunto
! set my hand and caused the seal of tho
United States to be affixed.
Done by the President. through New
ton ID. Baker. secretary of war, in the
District of Columbia. this 26th day OF
December. in the year Of Our Lord. on,
thousand nine hundred and seventeen
and of the Independence of the United
States the one hundred and forty.
WOODROW WILSON,
"NEwTON d. BAKER,
Secretary OF War
by the President:
ROBERT LANSING,
Secretary of State"