The evening herald., 1918-01-04
TENT OT RAILROAD HII.L
INTRODUCED IN NONG.itI.~S


under federal control Tor the iu-t
compensation - their owners aud Tur
other purposes
Section ON" prov iGcs that the prc,i-
dent is authorized to agree with uuu
! guarantee To- the roads that during th
| federal control. they shall receive as.
| compensation an income az ln annual
| rate equivalent a. nearly t- utls r'
!o the roads average net Idilwuy op.
Grating income fut the three years
| ending june 80 1917 This the bin
officially calls the standard return.
This section PROV idcs that the net rail-
way operating income b. tu be- COM
puted from returns tu the Interstate
Commerce Commission. cNcludIng
debts and credits arriving from the
| accounts which ara called iu the
monthly interstate commerce returns.
| Leased road rents and miss yclnucou~
rents"
No federal taxes u excess Of take.
1s-c-scd durinI the year ending June
a". 1917, are To bee charged against
;hv revenue I'm computing the St1ud1t
!rDuru. Any ret railway operating u-
,DuWe "a excess uf the standard rcturu
i- tu hc the pTuucrtN of the United
states The amount Of the standard
return aacruing during the three year
period is TO be determined hy the IN
terstatr commerce Commission. whost
certificate a. To- the amount is &C. bee
taken as final and conclusive fur tho
purpose of tho agreement ana guar
IautN During the federal control adc-
duntc depreciation and maintenance o.
the properties uf the roads would bc
included a. e part Df the oPcrlting
expenses ur provided through rec
serve fund In accordance with priu-
Iciplcs and rules which the president
will determine.
section two provides that n uo such
agreement is made with "a road, tn"
president may nevertheless. pay ur
cause To- hc paid, to any railroad
while under federal control NO; cN-
cccdins ninety per cent of the stand
ard return Under this section IN"
legal rights of the railroad Tor PROSE
cutiou of its claim tor the pa'anye be
fore the court ot claims Is provided
Tor. aud any amount found due above
the amount that had been paid viii
bear interest al 6 per cent a year
ana auN excess amount paid un the
goVcrumcu, will 10, recoverable hy IN"
government with -iN per cent Interest
section three provides hat any
claim FOR Just compensation which ~
mot adjusted under the terms PROV !ded
iu section one. Will pr submitted tu a
board OF three auditors appointed hA
the Interstate Commerce Commission
Whusc members ana official tor Viii
bee eligible Tor that service without aut
additional compensation. These audit
tors viii give rull hearing to IN"
road and 10 the government ana wall
report go the president the amount
due the road \ sum not exceeding
iha amount $50 reported may ht
agreed upon by the pres cent ai thF
road Failing this agreement either
the federal government or the rnad
may file q petition iu the court ul
claims for final aSrcrtaiumcnt ni IN"
amount pf just compensation and in
the court of c,umS proceedings th'
report OF The auditors WEI be vonsid -
cred piimI facic evidence Of the ihci>
stated The just compensation "f any
federal controlled road not making re-
Turns 10 the Interstate commerce
Commission will Doe determined iu ace
curdance with these provisions,
section -four provides that the ne.
. turn of any carrier viii hv increased 1t
hy an amount rcvkoned at "a rate &"
- nc fixed by the president upon 'hr
cost of any additions ana in;rr"N"-
ments made while u#der federal cur-
{ trnl hN the carrier from lt~ own ehln'
tai or surplus and ny an amount
p ruunl tp the rate ucctuus 4" lh'
I government upon any advances maze
{ tn the road for the cost ot the add'
r. tions and improvements.
! section rive prohibits any c'irl''
! whiIc under federal control and Wi'"-
- out the PRESIDENT prior apr"N'
- from dcclarlng coz paying any dN''
- dcnds lu excess ot itH regular it''
4 during the three years ending Jun'
- 10 1917. This section stipulater
n however that the railroads that nave
e. Maid nu regular dividends ur uo diNl'
,. dcnds during that period may w''
s the presidents prior approval pos
Y aIyidends at whatever rate the prcSl
Pc dent may determine.
= Section six approprlatcs t'no"'".
a u0O which with any funds aNailab''
e from any excess earnings ut the ran
b. roads. may bc used by the pre~iden
It "as "a revolving fund 20 pay expense
A. Gf the federal control ON any det'c,
4 nf - railroad below the standard re
IA turn and a. provide terminals, lm
4 rroyem-n,s engines. ROLLING siu'h au,
a other necessary equipment TheN'
"A terminals, improvements and equip
f, iucnt are tu bee used and accounted
n for as the president may direct and q
% be dtspuSrd of as congress may here
k after provide.
!. The president may alsu, nccordin
p. 10 section seven, order any road u
Ia make additions and Improvements. II
NJ may from this revolving fund adNanr