Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-15
OFFERS COMMITTEE FLAT
. S PER CENT CONTROL PLAN
General Counsel Of National Associa.
ton of Owners of Securities
II. Appears in Inquiry.
WOULD DIVIDE SURPLUS MONEY
Calls for Division Over tho Fixed Re-
turns Among Employees. the Pub
lie and the Road Earning the
Money.
(Rr As.ncint.d Press J

WASHINGToN. August 1.-THE
warteld plan for railroad control with
provision for a fat return Of per
cent on capital invested. was presented
today TO the House Interstate Com
merce Committee by Luther NJ, Walter.
general counsel OF the National Asso-
citation of owners OF Railroad Secur-
tiles.
The fundamentals OF the plan in.
GLIDING division OF all surplus over
the fixed return among employees. the
public and the road earning it. We're
explained by Mr.. Waiter who declared
1t could he put into effect Immediately
THE keystone OF the Warhcld plan"
the witness said. lis congressional
direction to the Interstate Commerce
Commission that it shall make freight,
and passenger rates sufficient TO pay
operating expenses. maintain railroad
properties and give not less than per
cent return upon the aggregate fair
value of the property devoted 10 trans
portation in each OF the principal traf-
nc territories.
Opposes Federal Incorporation.
MIR. Walter opposed Federal ncor-
poration trans ortHilon board and
secretary of transportation in the
Cabinet. and declared that under the
minimum return plan the net result OF
the basis OF government rental some
of the carriers would have turned in
surplus for division between en-
ployees and the public.
1t was a fundamental OF tho Warfiald
plan, the witness said that labor
should participate in the earnings of
the carriers.
I'VE believe he declared, tina; CAPT
tai Is entitled to it's return OF 6 per
cent that labor is entitled 10 a fair
wage. and that the excess earned by the
carriers aftor paying their wages and
s. per cent uron capital should be
Labor's share shouid be used for the
esta blishment Of the INSURANCE system
or for profit sharing BY reasons of
the largely Increased duties which will
fall upon the com ION. the security
holders ask Congress to create six
regional Interstate commerce commits
Sions. subordinate 10 the comni ssion
but with all the powers of the Inter
state Commerce Commission in their
respective territories.
( Plnn Regional Communications.
"Our plan contemplates that these
regional commissions shall act rs
boards OF Cancellation in settling wage
disputes. being body close 10 the
employees, the carriers and the
shippers
This plan.would create a corporation
operated without profit 10 the railroads
and managed by the nine Interstate
railroad men selected by the railroads.
This corporation would furnish expert
advice to the com mission in the opera
ton OF carriers. would unity termi-
nails, would operate equipment such as
has been built by the railroad admins
tration and allocated TO the individual
railroads. II, would furnish a great
clearing house for railroad operation
and in times of emergency would con
stitute the directing force for the hand
ling Of the railroads as single sys-
tenn.
This corporation would furnish at
all times a trained and efficient means
Tor Immediate mobilization of the rail-
roads for war purposes without addi-
tional legislation"