The Ordway new era., 1918-01-04

duties imposed upon him so long and
to such extent as he shall determine
through the board of directors, receiv'
ers, officers and employees of saiG sys-
tens OF transportation. Until and ex.
cept SO far as said director shall.
from time to time by general or spe,
cial orders otherwise provide, the
boards of directors, receivers, officers
and employees of the various transpor.
tation systems shall continue the op-
Grafton thereof in the usual and ordin
ary course of business of common cal.
riers, in the names of their respective
companies.
Until and except so far as said di-
rectors shall from time to time other
wise by general or special orders de
termine, such systems of Transports
tion shall remain subject to all exist
ing statutes and orders of the Inter
state Commerce Commission, and 10
all statutes and orders of regulating
commissions of the various states in
which said systems or any part there.
of may be situated. But any orders
general or special, hereafter made by
said director, shall have paramount au.
thority and be obeyed as such.
Does Not Affect Tramways.
Nothing herein shall be construed
as now affecting the possession, op-
GRAFTON and control OF street electric
passenger railways, including rail.
ways commonly called interurbans,
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 necessary or desir.
a h1p nnGGaeeinn
may be taken of all or any part of
such street railway systems, including
subways and tunnels, and by subse.
quent order and proclamation, posses
sion, control and operation in whole
or in part may also be relinquished
to the owners thereof of any part of
the railroad systems or rail and water
systems, possession and control OF
which are hereby assumed
The director shall as soon as may
be after having assumed such posses.
sion and control enter upon negotia-
tions with the several companies
looking to agreements for Just and
reasonable compensation for the pos
session, use and control OF their re-
spective properties on the basis of
an annual guaranteed compensation,
above accruing depreciation and the
maintenance of their properties,
equivalent, as nearly as may be. to
the average of the net operating in
come thereof for the three-year period
ending June 80, 19l7-the results of
such negotiations to be reported to
me for such action as may be appro.
pirate and lawful.
Not to Impair Rights.
But nothing herein contained. ex-
pressed or implied, or hereafter done |
or suffered hereunder, shall he
deemed in any way to impair the
rights of the stockholders, bondhold- |
ers, creditors and other persons hay-
ing interests in said systems of trans. |
portation or in the profits thereof. TO |
receive just and adequate compensa- |
tions for the use and control and op. |
Grafton of their property hereby as
sumed
Regular dividends hitherto declared, |
and maturing interest upon bonds. de. |
bentures and other obligations, may
be paid in due course; and such regu-
lar dividends and interest may con-
Linue to be paid until and unless the
said director shall from time to time
otherwise by general or special orders
ana subject to the approy-
al OF the director, the various carriers
may agree upon and arrange for the
renewal and extension of maturing op.
legations.
Except with the prior written as
sent OF said director, no attachment
by mesne process or on execution
snail be levied on or against any of
he property used by any of the said
systems in the conduct
u their business as common carriers:
'ut suits may be brought by and
'gainst said carriers and Judgments
endered as hitherto until and except
10 far as said director may, by gen
raj or special orders, otherwise de-
ermine.
From and after 12 O'Clock on said
Sth day of December, 1917, all trans
ortation systems included in this or
er and proclamation shall conclusive
y be deemed within the possession
nd control of said director without
lrther act or notice. But for the pur-
ose of accounting said possession and .
ontrol shall date from 12 O'Clock mid
light on Dec. 81, 1917.
In witness whereof have hereunto
ct my hand and caused the seal of
ne United States TO be affixed.
Done by the President. through
'ewton d. Baker. secretary OF war. in
lie District OF Columbia, this 2Gth day
December, in the year of Our Lord
ne thousand nine hundred and seven
zen, and of the independence If the
nited States the one hundred and
WOODROW WILSON.
NEWTON ID. BAKER,
SppT1tDru nf NNor