The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-09-02
NEW BILL MAKES
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NEW DILL Mf1NEO
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shall be converted into bonds bearing
per cent interest.
Precautions against watered stock
are taken by requiring that capitaiiza-
ton of the roads shall be limited to
the actual property value as deter
mined by the interstate commerce
commission.
Twelve on the Board.
The railway transportation board
would consist of five members. APP
pointed by the president at salary of
REORGANIZATION of the twenty to
thirty-five competitive systems called
for would not begin for seven years,
during which time the board would
be working out its plan subject to ap-
proval of the interstate commerce
commission. So
Rate fixing powers would remain
with the interstate commerce commits
sion.
Committee ON Wages.
The committee on wages. and work
ing conditions would be composed of
four representatives of employees and
four of the railway companies In
cases of deadlock decisions would be
made by the railway board. This
board appoints the wage COMMITTEES,
selecting from nominations presented
by employees and the companies.
! Coordination of land and water
transportation would be controlled by
the railway board which has authority
to compel connections so as TO utilize
water transportation to the fullest ex-
tent.
limited to Fair Dividends.
No guarantee by the government of
future railroad income, but limitations
made upon revenue to fair" dividends
| based on value of properties fixed by
| tho interstate commerce commission.
Another provision of the bill re-
| quires that railroad corporations must
! have among their directors two repre-
sentatives OF their classified employees
land also two directors representing
| the government"
| Another clause would create, thru
| the new transportation board, an en-
1 ployes' advisory council composed OF
| representatives of each organized
| craft of railroad employees. TO use one
half of excess earnings of companies
above thier flair" dividends" for the
benefit of employees as follows:
| Research to lessen hazards Of en-
| ployment extension of hospital relief
insurance and pensions; technical ed
ucation for employees and to establish
a profit-sharing system for employees
The other half of excess earnings
board to buy equipment for lease to
the companies or for equipment loans
Rnte-Making Districts.
Upon passage of the act, the bill
provides that the interstate commerce
commission shall divide the country
into rate-making districts. hold re-
| gionaI hearings and fix new rates with
regard to public and shippers interests
| wages of labor, cost of maintenance
and operation and "a fair return upor
the value of property'-to be fixed BY
physical valuations of the commission
and to lower or raise rates in con
formity.
The transportation board would es
tablish the policy of establishing
twenty 70 thirtyfive regional railway
systems under federal incorporation
for distinct operation under eompeu
tive conditions. Street and interurbal
railways principally used for passen
ger traffic would be exempted from
such consolida tons, which would hav'
! to be approved by the interstate com
merce commission. The, boards pow
ers would include general supervision
. of operating and financing of rail
t roads, including extensions, admins
| appliance laws, diversion of traffic
pooling of equipment. joint use of ter
minals, and other matters.
: Regulate Rail Stock.
For. seven years, under the bill. vol
untary combinations of the carriers Il
conference with the boards plal
would be permitted. II not voluntar
1 lily combined in seven years. the boar,
could require compulsory consolida
ton under federal charter and base
? upon actual physical 5valuaticns
The bill also provides for regulatiol
of railroad stock and bond issues b
the interstate commerce commission
and for increased rate making pow
= ers. Government approval of ney
lines or extensions would be require ed
: Division of companies traffic an
earnings also is authorized by the bill
under authority of the commission
which would be empowered tc requir
! connections between water and raj
carriers.
Broad Powers to /. c. c.
1 Broader authority over rates !
t given the commission which is cIothe
S with full authority to remove any un
D just discrimination against interstat
= and foreign commeree" with power t
S inquire into interstate rates affect
: ing interstate commerce in co-opera
> ton with state commissions.