Economics for Executives: A Series of Study-units and an Accompanying Service which Together Constitute an Interpretation of the Underlying Principles of Economics and Business for Men and Women in Practical Life, Part 5
George Evan Roberts
American Chamber of Economics, 1921 - Economics
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accounts action actually adequate adjustment administration aggregate amendment amount authority become beginning better Board body capital carriers cars cent charge Commission compensation competing competition concerned confined Congress connection considerable consolidation controversy corporations Court created decision early earnings ECONOMICS effect efficient employees equal equipment establish EXECUTIVES existing facilities fact fair return federal final findings further greater hand hearings held increased individual road Interstate Commerce investment issue jurisdiction labor legislation legislature less limited maintenance matter ment MICHIGAN mission movement necessary needed noted obtained operation owners passed passenger period practical prescribe problem protect prove public service questions railroad property rapidly rates reasonable regulation restoration secure serious significant stand standard statute Supreme Court taken tion traffic transportation United wages weak whole
Page 30 - In the exercise of its power to prescribe just and reasonable rates the Commission shall give due consideration, among other factors, to the effect of rates on the movement of traffic...
Page 31 - In making such determination it shall give due consideration, among •other things, to the transportation needs of the country and the neces•sity (under nonest. efficient and economical management of existing transportation facilities) of enlarging such facilities in order to provide the People of the United States with adequate transportation...
Page 31 - That during the two years beginning March 1, 1920, the Commission shall take as such fair return a sum equal to 5% per centum of such aggregate value, but may, in its discretion, 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 equipment, which, according to the accounting system prescribed by the Commission, are chargeable to capital account.
Page 30 - Commission may from time to time designate) will, under honest, efficient and economical management and reasonable expenditures for maintenance of way. structures and equipment, earn an aggregate annual net railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of the railway properly of such carriers held for and used in the service of transportation...
Page 31 - ... designated by the Commission. In making such determination it shall give due consideration, among other things, to the transportation needs of the country and the necessity (under honest, efficient and economical management of existing transportation facilities) of enlarging such facilities in order to provide the people of the United States with adequate transportation: Provided, That during the two years beginning March 1, 1920, the Commission shall take as such fair return a sum equal to $y2...
Page 41 - ... the cost of transportation as between competitive systems and as related to the values of the properties through which the service is rendered shall be the same, so far as practicable, so that these systems can employ uniform rates in the movement of competitive traffic and under efficient management earn substantially the same rate of return upon the value of their respective railway properties.
Page 30 - Provided, That the commission shall have reasonable latitude to modify or adjust any particular rate which it may find to be unjust and unreasonable, and to prescribe different rates for different sections of the country.
Page 40 - Act, 1920, contemplated the consolidation of the railroads of the continental United States into a "limited number of systems," and directed the Commission to prepare a plan for such consolidation, which it has done.
Page 25 - ... dividends and interest were to be continued until and unless the Director General determined otherwise, and subject to his approval carriers might renew and extend existing obligations. The Federal Control Act, approved March 21, 1918, ratified the terms of the proclamation — that the compensation should be an annual sum equivalent to the average of the net operating income for the three years ending June 30, 1917, to be ascertained and certified to by the Interstate Commerce Commission. It...