The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-03
SENATOR WOULD
OUTLAW STRIKES


vision for the assurance OF the credit
of theNJregional corporations adequate
to meet the needs of maintenance not
only of service, but of the integrity of
the corporations Is reposed under the
Cummins bill in the transportation
board. On this point the bill sets forth
The said board shall carefully and
continuously make inquiry respecting
the transportation needs and, facilities
of the whole country, and Of each trans
portation situation as 1t may. arise, the
adequacy and efficiency of such trans
portation facilities and service 9pd when
and how they should be enlarged or
improved.
Must Inquire Into Credit. ...
ut shall inquire into the state of the
credit of all common carriers subject to
| the said act to regulate commerce as
amended and inform itself OF the rela-
| ton between the operating revenues, the
operating income and the net operating
income of such carriers. w..
1T shall inquire as to the new capital
which the public interest may require the
carriers or any carrier to secure In order
| that adequate and efficient transporta-
1
times be provided, and into the cofidi-
lions which said new capital may be
| secured. From time to time( 1t shall
certify to the commission its findings
| in these respects and the commission
shall accept such certificate or certih-
| Gates as prima facie evidence In any
hearing upon the matters to which such
certificate or certificates respectively
| relate"
Tho scheme of reorganization into
| regional corporations contains provision
that upon the board Of directors Of each
4 two employees shall sit, to be chosen
from a list of four submitted by the
| organized workers.
The division of the country into rate
districts, with the power reposed In the
Interstate Commerce Commission as
heretofore to make rates, Is provided
The Interstate Commerce Commission
must, in exercising its rate making func-
ton, take into consideration all interests
In combination, including wages, earn
ings, the rights of shippers and the
rublic. as we'll as a fair return upon
the value Of the property" to be hxeo
by the physical valuation OF the prop
critics by the Interstate Commerce Com
mission.
Provides for Excess Funds
After giving the I. C. c. power to de-
termine what shall constitute fair re-
turns, the proposed law provides tina,
the excess thereof shall be divided
equally for the betterment and extension
of the line and for the creation OF
fund to be assigned to the beneht OF tht
employees and put into fund to bt
known as 1.-THE employees welfare FUND,
under the control and Administration o.
the transportation board.
In explanation of the subcommittee
bill. Senator Cummins to-day addressed
the Senate, saying the measure repre-
sented the alternative of outright Gov
eminent ownership. How nearly tn
regional system, despite private owner
ship and the materially restricted con
troll by private interests, approaches tn
programme Of the advocates of the com
plete liberalization OF the Incl Is dis
closed in the outline Of the form o
creating the regional corporations.
. Combinations effected with the sane
. ton of the transportation board an
, their assurances of securities from tim
to time satisfying the views Of tn
I. C. C. must, II not voluntarily consoli
dated in the seven year period, underg
Transportation under the terms of tn
law itself. They must take out Fedora
charters and they must CONSOLIDATED Blu
Senator Cummins puts It thus:
I'VE must have something similar {
| the subcommittee plan put into i'm
mediate operation or Government owner
, ship of these railroads will only be
/ question Of time"