Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-12-27
PROCLAMATION OF PRESIDENT
TAKING OVER THE RAILROADS

director shall from time to time
otherwise by general or special or
ders determine such systems of
transportation shall remain subject
to all existing statutes and orders
of the Interstate Commerce Com
mission. and to all statutes and or
ders 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 au-
thority and be obeyed as such.
Nothing herein shall be con-
strued as now affecting the possess
electric passenger railways. includ-
ing railways commonly called inter
urbans, whether such railways be or
be not owned or controlled by such
railroad companies or systems. By
subsequent order and proclamation,
If and when it shall be found neces-
sary or desirable, possession. con-
troll or operation may be taken of all
or any part of such street railway
systems. including suhways and tun-
nels; and by subsequent order and
proclamation possession, control and
operation in whole or in part may
also be relinquished to the owners
thereof of any part of the railroad
systems of rail and water systems.
possession and control Of which are
hereby assumed.
1.-The director shall, as soon as may
be after having assumed such pos
session and control. enter upon ne
gotiations with the several COM
panies looking to agreements for
just and reasonable compensation
for the possession, use and control of
their respective properties on the
basis of an annual guaranteed COM
pensation. above accruing deprecia-
ton and the maintenance of their
properties. equivalent. as nearly as
may be. to the average of the net
operating income thereof for the
three-year period ending June 80,
1e17--the results of such negotia-
tions to be reported to me for such
action as may be appropriate and
lawful.
But nothing herein contained. ex-
pressed or implied. or hereafter done
or suffered hereunder, shall be DEEM
ed in any way to impair the rights
of the stockholders, bondholders,
creditors and other persons having
interests in said systems of trans.
portation or in the profits thereof to
receive just and adequate compen-
sation for the use and control and
operation OF their property hereby
assumed.
Regular dividends hitherto declared,
and maturing interest upon bonds,
debentures and other obligations. may
be paid in due course and such regu-
lar dividends and interest may con-
tinue 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 ap-
prevail Of the director, the various car
riers 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 on or against any of the
property used by any Of said trans
portation systems in the conduct of
their business as common carriers
but suits may be brought by and
against said carriers and judgments
endered as hitherto until and except so
far as said diector may, by general or
special orders. otherwise determine
'Fom and after IL o'clock on said
2Sth day of December 1917. all trans
portation systems included in this
order and proclamation shall con-
sion and control of said director with
out 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 l have hereunto
set my hand and caused the seal of
the United States to be affixed
Done by the President. through
newton ~ BAKER, Secretary of War,
in the District of Columbia. this e6th
day of December. In the year of our
Lord one thousand nine hundred and
seventeen, and Of the Independence of
the United States the one hundred and
fortv-second. WOODROW WILSON.
by the President:
ROBERT LANSING.
Secretary of State
NEWTON D. BAKER.
Secretary of War"