South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-05-11

=. ndH submitted "A pan 10 the red
eraI government which ne regards
as a middle ground between public
roads, and as a feasible compromise
between tho more radical plans Of
both public and private ownership
advocates
Mr.. Hunt was present during the
recent senate investigation Of the
railroad situation and was the only
witness TO testify before the com
mittee who did not represent some
organization Of interests. Mr.. Hunt
maintains that he is simply repre-
senting the people" and asked con-
sideration OF his plan on that basis.
FIRST-Return the roads for
operation. under strict government
control. at the earliest practicable
date. TO the various railroad com
panies now holding certain vested
rights in same.
SECOND-Ascertain and establish
80 the earliest practicable date the
reasonable. fair cash value OF each
of these roads.
(a) BY finding (as nearly as pos
sibIe. the original cost:
OBJ By deducting from such orig
inal cost "A reasonable. fair
amount for depreciation;
Co BY taking the average stock
values Of such roads as OF
Jan. 1, 1914, 1916 and 1918:
and
Cd BY estimating the cost or re-
placing such roads, taking the
average Of materials. equip
ment and labor as OF July /,
1914. and July 1 1919. Then
establish the average Of these
four estimates as the present
fair cash value OF these roads.
THIRD-Increase the member
ship OF the present interstate com
merce commission to Is; enlarge the
authority of such commission and
more clearly define its powers.
To concentrate authority and es-
cape confusion OF national and state
Jurisdiction, declare all roads oper-
ating i'm two or moro stat to be
interstate roads. and require each
road 10 take out and operate nder
a national charter.
Court OF Appeals.
FOURTH-Let nine members con
stitute a court OF appeals. TO hea,
and determine all matters Of first
Importance; and make a finding OF
verdict OF six Of such members final
and binding.
FIFTH-Divide the IS states into
six districts and assign one OF the
remaining six members Of sue CON
mission to each of such districts,
congress clearly defining the powers
and duties OF such district judges 0.
commissioners.
To facilitate the work II to rem
der prompt findings. let such nine
resident members be divided into
three separate courts OF three MON
bers each; one to have control OF
rates and charges; n TO authorize
expenditures and OF securf-
ties. also to make or approve pur.
chases. and one TO hear and adjus'
disputes and claims, or such mOdi
ncations Of or additions TO sucl
duties of these separate courts a.
congress may prescribe.
SIXTH-Allow and require eacl
road to select its officers and II,
salaries for same, subpect 10 ap
prevail and confirmation Of the in
terstate commerce commission.
Issue New Stock.
NEUTRALITY-SUSPICIOUS. and reouir.
the officers OF each road TO issue new
stock for such road. based on an,
equal 20 tho new and approved valu.
OF same. and 10 deposit such stool
with the treasurer OF the Unite,
States.
EIGHTH-When such stock Ia
been so deposited and approved
make it the duty OF the government
TO endorse it and guarantee an an
nuaI net dividend OF four per cen
on every dollar OF same.
NINTH-Le- the government
create q contingent guarantee rail
road fund and require each an,
every road making owe four pc
cent net annual earnings 20 deposi
with such treasurer all earning
over and above said four per cent.
TENTH-PrOVide for the distribu
tion OF all such excess earnings (ove
O per cent and up to and includ
ing 10 percent) as follows.
(a) Return 90 the holders OF
stock in each road CON
tributing 10 such guarantee
fund 20 per cent or the amount
any such road has so CON
tributed.
(b) Let 40 per cent OF such eX-
cess earnings go TO the relief
and credit as such roads as
could not make four per cent
net earnings. and
(c) Let the remaining 90 per cent
20 10 an insurance and old
age pension fund. 10 be ere
ated by congress. for the pro-
lection and benefit OF all en-
ployes I'm such railroad serv-
ice. provided such employees
contribute or pay an equal
mOunt into such fund for
their own protection and ben
cfr.
Get Government o. \.
ELENENTH-To provide capita
FOR construction OF new roads an
extensions. making important i'm
provements and betterments. or IN
purchase of new equipment. reQuir