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THE COMMITTEE ON
HOUSE OF REPRESENTATIVES
H. R. 11212
A BILL TO PROMOTE THE UNIFICATION OF CARRIERS
AND FOR OTHER PURPOSES
MAY 24, 25, 26, 27, JUNE 3, 4, 8, 9, 10, 11, 15, 17, AND 18, 1926
COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE
HOUSE OF REPRESENTATIVES
SIXTY-NINTH CONGRESS, FIRST SESSION
JAMES S. PARKER, New York, Chairman. JOHN G. COOPER, Ohio.
ALBEN W. BARKLEY, Kentucky. EDWARD E. DENISON, Ilinois.
SAM RAYBURN, Texas. SCHUYLER MERRITT, Connecticut.
GEORGE HUDDLESTON, Alabama. CARL E. MAPES, Michigan.
CLARENCE F. LEA, California. WALTER H. NEWTON, Minnesota.
AN B. PARKS, Arkansas. HOMER HOCH, Kansas.
ROBERT CROSSER, Ohio.
ASHTON C. SHALLENBERGER, Nebraska.
JACOB L. MILLIGAN, Missouri.
ELTON J. LAYTON, Clerk
ROBERT B. BENNETT, Assistant Clerk
HOUSE OF REPRESENTATIVES,
Monday, May 24, 1926. The committee met at 10 o'clock a. m., Hon. James S. Parker (chairman) presiding.
The CHAIRMAN. The committee will please come to order. We have under consideration H. R. 11212 which reads as follows:
[H. R. 11212, Sixty-ninth Congress, first session] A BILL To promote the unification of carriers engaged in interstate commerce, and for other purposes
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the interstate commerce act, as amended, is amended(1) By inserting after the enacting clause thereof the following heading:
“TITLE I.-REGULATION OF CARRIERS' (2) By adding at the end of such act a new title to read as follows:
"TITLE II.-UNIFICATION OF CARRIERS
“Sec. 201. As used in this title
“(1) The term “interstate or foreign commerce' means commerce between any State, Territory, or possession, or the District of Columbia, and any place outside thereof; or between points within the same State, Territory, or possession or the District of Columbia, but through any place outside thereof; or within any Territory or possession or the District of Columbia.
“(2) The term 'carrier' means
“(a) A common carrier engaged in the transportation in interstate or foreign commerce of passengers or property wholly by railroad or partly by railroad and partly by water, within the continental United States, subject to Title I of this act, including sleeping-car companies and express companies;
“(b) A corporation having power to engage, or owning property used or held for use, in such transportation.
“(3) The term 'securities' includes shares, bonds, or other evidences of interest or indebtedness.
“(4) The term 'voting securities' include all outstanding shares of capital stock (whether or not such shares have voting privileges), and includes all other outstanding securities the holders of which under the terms of a mortgage deed of trust or other contract have the right to vote upon the question to be determined.
"DECLARATION OF POLICY "Sec. 202. It is hereby declared to be the policy of Congress, in order that an adequate and efficient transportation service may be maintained in the United States and necessary weak and short lines be preserved, to authorize and encourage the unification, through any method specified in sections 203, 204, and 205 of this title, of the property of carriers into a number of strong and efficient and well balanced systems which will, as far as practicable, maintain