...be, so that the railway carriers as a whole allocated to each district and subject to this Act sha-11 earn an aggregate annual net railway operating income equal, as nearly as may be, to 5^ per centum upon the aggregate value, as determined in accordance with the provisions hereof, of...

...as a whole (or as a whole in each of such rate groups or territories as the Commission may from timo to time designate) will, under honest, efficient and...be, to a fair return upon the aggregate value of the rail26 F.(2 way property of such carriers held for and used in the service of transportation: Provided,...

...1920 directed the Interstate commission to impose such rates for freight as would earn net profits "equal, as nearly as may be, to a fair return upon the aggregate value of the railway ^. property," it was at once ^е jfew discovered that rates which Railway would give the stipulated "fair return"...

...1920 directed the Interstate commission to impose such rates for freight as would earn net profits "equal, as nearly as may be, to a fair return upon the aggregate value of the railway ^_ property," it was at once ^ej^ew discovered that rates which Railway would give the stipulated Law...

...Steamship Company. Congress has placed upon us a duty, in prescribing just and reasonable rates, to "initiate, modify, establish or adjust such rates...be, to a fair return upon the aggregate value of the rail property of such carriers held for and used in the service of transportation." Protestants suggest...

...adjust such rates so that carriers as a whole (or at a whoh in each of ruch rate groups or territaria as the Commission may from time to time designate) will,...may be, to a fair return upon the aggregate value of toe railway property of such carriers held for and used in the service of transportation. [Italics...

...efficient, and economical management and reasonable expenditure for maintenance, earn an aggregate net railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of railway property of such carriers held for and used in service of transportation. In view of these...

...established shall " under honest, efficient and economical management Hnd reasonable expeuditures • • • earn an aggregate annual net railway operating Income equal, as nearly as may be, to a fair return." • • « \vre mention this fact » • • in order to make clear that In our Judgment our authority...

...Commission shall prescribe such rates that the carriers as a whole or in groups may earn an aggregate net railway operating income equal, "as nearly as may be" to a fair return, etc. This would seem to indicate an acceptance of the impossibility of always securing a fair return...

...But the significant contribution of the new act is the standard directed for measuring total income : In the exercise of its power to prescribe just and...may be, to a fair return upon the aggregate value cf the railway property of such carriers held for and used in the service of transportation. From a...