The Barre daily times. (Barre, Vt.) 1897-1959, 1920-02-19

| dation plan to be prepared by the IN
terstate commerce commission.
Appropriation of $500,000,000 to be
used as revolving funds from which to
make loans to carriers and pay claims
growing out of federal control. Unex-
pended funds now in railroad admins
tration's hands are also re appropriated
for that purpose and an appropriation
OF $4,000 for the federal labor board
is provided
As finally agreed upon, the labor sec
ton provides that ''it shall be the duty
of all carriers and their officers, EN-
ployes and agents to exert every rea-
sonable effort and adopt every avail
able means to avoid any interruption
to the operation of any carrier grow
ing out of any dispute between the
carrier and the employees or subordi
nate officials"
Such disputes. the bill provides,
should, il possible, be decided by rail-
way boards of labor adjustment, cs-
tabished by agreement between the
carriers concerned and the employees.
No provision is provided, however, for
their organization.
The bill directs the railway board of
labor appeals, which would be appoint
ed by the president with the Senate's
approval and which would have cen
trail Offices in Chicago, to consider and
decide cases either certified to it by the
lower boards or cases which the latter
failed to hear In addition the federal
board can upon the appeal boards
own motion, if it is of the opinion
that the dispute is likely substantially
to interrupt commerce" investigate
conditions surrounding the dispute and
make a decision. Such decision, how
ever, under the bill, must be eoneurred
in by at least five members, one Of
whom must be of the public group.
Returns on Railroad Investment.
The rate making section of the bill
stipulates that the interstate commerce
commission in establishing rates which
shall yield return equal TO 5la per
cent Of the aggregate value of the car
rier's property, shall give due consid-
Grafton, among other things, to the
transportation needs of the country
and the necessity tunder honest, eff
cient and economical management Of
existing transportation facilitiesl, Of
enlarging such facilities in order to
provide the people of the United States
with adequate transportation"
The section further provides that
during the two years beginning March
/, 1920, the commission shall take as
such fair return sum equal to 5h
per centum of such aggregate value,
but may in it, discreet ion, add thereto
a sum not exceeding one half Of one
per centum of such aggregate value to
make provision in whole or in part for
improvements, betterments, or equip
ment. which according TO the account
ing system prescribed by the commits
sion are chargeable to capital account"
Determination Of the aggregate value
of the property Of the carrier for rate
making purposes is left to the commits
sion with the provision that it shall
give TO the property Investment ac-
count of the carriers only that consid-
Grafton which it is entitled to under
the law in establishing values for rate.
making purposes. When any carrier
receives for any year a net railway OPP
Grating income in excess Of six per
cent of the value of its property, one
half of such excess goes 10 the car
rier's reserve fund, while the rest goes
to the federal railroad contingent fund,
which is to be used by the commission
in making loans to railroads or for the
purchase Of transportation equipment
or facilities and leasing the same to
carriers.
To enable the commission more eff
GENTLY to administer for distribution,
the bill as agreed upon greatly widens
It's powers and increases the member
ship from nine TO eleven commission.
ers with an increase from $4,000 TO
$4,000 in annual salary.
The commissions increased powers
include the following;
Supervision over the issuance Of rail-
road securities. the commissions ap.
proval being required before railroads
can issue stock or bonds
Establishment Of minimum rail
rates, the commission up to this time
having had only power to establish
maximum rates. This power viii en-
able Il to prevent a carrier from con.
Quoting "cut throat" competition.
Authority to make such Just and rea-
sonable direction with respect to car
service in times Of emergency as will
best promote the service in the pub
lies interest.
Authority to compel the joint or
common use Of terminals; to give d.
rection for preference or priority in
transportation embsrgoes or movement
Of traffic under permits.
Approval Of new construction or
abandonment Of railroads.
Complete control over railroad oper-
alton throughout the United States in
case Of war or threatened war" the
bill provides, would be centered in the
commission, which would have powers
similar TO those now exercised by the
railroad administration
In presenting the report, Senator
Cummins served notice that he would
call il up IN the Senate Immediately
after the House acted on il.
1T is probable the House will dis
- 80 sl- -araa~4 rrrws Saturday ~