The Birmingham age-herald., 1918-01-05

10 any railroad Wnle ullueT leuerdl con- trol not exceeding 90 per cent. of the standard return. Under this section the | legal rights of the railroad for prosecu- tion of it's claim for the balance before the court Of claims is provided for, and any amount found due above the amount that had been paid will bear interest at per cent a year and any excess amount paid by the government will be recover able by the government with per cent. interest.
 OTHER ADJUSTMENT METHODS
 Section provides that any u'aim for | just compensation which is not adjusted under the terms provided in section l will l be submitted to board of three audi ters appointed by the interstate com me1ce commission, whose members and
 official force will be eligible for that ser
 vice without any additional compensa- tion. These auditors will give a full I hearing to the road and to the govern ment and will report to the President l the amount due the road as just com lpensation A sum not exceeding the amount so reported may be agreed upon , by the President and the road. Failing 1 Mis agreement, either the federal gov ernment or the road may file petition 1 in the court of claims for final ascertain ment of the amount of just compensation and in the court of claims proceedings the report of the auditors will be consid- cred prima facie evidence of the facts stated The just compensation of any | federal controlled road not making re- turns to the interstate commerce commis- sion will be determined in accordance with these provisions.
 | Section provides that the return of any carrier will be increased by an amount reckoned at a rate per cent to be fixed by the President, upon the cost of any additions and improvements made while under federal control by the carrier from it's own capital or sur plus, and by an amount equal to the rate accruing to the government upon any advances made to the road for the cost of the additions and improvements. I DIVIDENDS REGULATED l Section prohibits any carrier while under federal control from, without the Presidents prior approval, declaring or paying any dividends in excess of its regular rate during the three years ending June 30, 1917. This section stipulates, however, that the railroads that have paid no regular dividends or ] no dividends during that period may, with the Presidents prior approval, pay Iident may determine.
 HALF BILLION FUND
 l Section appropriates $500,000, 900 which. together with any funds avail able from any excess earnings of the railroads, may be used by the President
 ''as revolving fund" to pay expenses l of the federal control, or any deficit of a railroad below the standard re- turn and to provide terminals, improve 1 ments, engines, rolling stock and other necessary equipment These terminals Improvements and equipment are to be
 used and accounted for as the Pres ident may direct and to be disposed of as Congress may hereafter provide The President according to section [, may also order any road to make any additions and improvements He may
 
 the road all or any part of the eX- pense Of the additions and improve ments so ordered and constructed by the road or by the government
 i INTEREST ON ADVANCES These advances are to be charged against the road and to bear interest at such a rate and be payable on such terms as the President may determine
 so that the United States may be fully
 reimbursed for any sums advanced Any loss claimed to accrue to any road by reason of any of these addi-
 tions or Improvements may be deter
 mined by an agreement between the President and the road Failing this
 agreement, the amount of the loss will
 be ascertained under the terms provided
 in section 8. From the revolving fund El the President may expend whatever amount he may deem necessary or de-
 sirable for purchase. construction, oi
 utilization and operation of boats
 barges, tugs and other transportation
 facilities on the inland and coastwise waterways. and may in the acquisition