Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-23
RAIL RATE HEARING
SET FOR AUGUST 10
Inquiry to Be Resumed, With
Similar sessions in Eight
Other Cities.
BY the Associated Press.

BY the Associated Press.
The Interstate Commerce Commits
sion today advanced to August 10 the
date for resuming hearings upon the
railroads petition for a Is per cent
increase in freight rates.
The advancement Of the date, orig
inally set for August 81, was made on
a motion by carriers for earlier COM
pletion than would have been possible
under the original plans. 1t was OPP
posed by shippers, who asserted they
felt they were entitled to the full time
originally announced TO prepare their
case.
Hearing Here August 10.
The hearing August 10 will be held
In Washington. Other hearings will
be held in San Francisco, Portland,
Greg; Kansas City. Mo; Dallas, Salt
Lake City. Atlanta, Chicago and at
some point to be selected in New
England.
The San Francisco hearing will be
held on August II and the Chicago
hearing on August 81 Dates for hear
ings at the other places will be an
nounced shortly. Hearings may pro-
coed in different parts Of the country
simultaneously, it was said.
The commission also announced it
would refuse to receive evidence regard
ing individual railroads or minor groups
of railroads and of the level of railroad
wages. 1t wishes to keep the hearings
on a general basis.
Oral Arguments Later.
1t suggested that evidence regarding
the method of increasing rates be con-
fined as nearly as possible to typical il
Illustrations. 1t also suggested a similar
plan be followed in presenting evidence
designed to show the effect of higher
rates on shippers and carriers.
Oral argument on the plea will be
held about 10 days after the hearings
close.
The commission said requests for time
already received exceed practicable lin
it's. The examiners assigned to assist
the commissioners are studying the re-
quests with view to assisting in ar
ranging for orderly presentation of teS-
tlmony and to avoid cumulative evil
Gence.
Bancroft Sends Letter.
Meanwhile, letter asserting COM
modify price declines and demands for
moratoria of various types must be
u
increase would be "one of the greatest
services that could be performed in the
present economic crisis" has been sent
to the com mission by James r. Ban
croft, president of the American Insti-
tute of Finance.
The institute. whose headquarters are
in Boston, addressed copy of the let
ter to President Hoover
Bancroft said it was his opinion that
a week ago our present capitalistic
system was closer TO actual collapse
than at any other time in its modern
history"
Bancroft said the railroads request
for rate increase presented more than
a local railroad problem. adding it
should be considered from the stand
point OF current worldwide trends.
Earnings Law Cited.
He said there was no question of the
need for the increase from railroad
earnings standpoint because the roads
were not earning much, if any, more
than 9 per cent at the present time.
while the transportation act entities
them to earn close to per cent.
II fully appreciate that the effect OF
a rate increase on general business in
this country must be fully considered,
he said. Actually, the point wish
to bring out is that a careful considera-
ton of existing economic conditions in
dicates that freight rate increase at
this juncture would have a stimulating
effect on business activity and that such
a stimulating effect is vitality essential
in pulling out of the current period Of
depression"