Recapture Clause of Transportation Act and Control of Holding Companies: Hearings Before the Committee on Interstate Commerce, United States, Seventy-third Congress, First Session, on S. 843, a Bill to Amend Section 15a and 19a of the Interstate Commerce Act, as Amended, and for Other Purposes; and S. 844, a Bill to Amend Section 5 of the Interstate Commerce Act, as Amended, Relating to the Consolidation and Acquisition of Control of Carriers by Railroad, and for Other Purposes, April 5, 1933U.S. Government Printing Office, 1933 - 63 էջ Considers legislation to liquidate the Railroad Contingent Fund and to place railroad holding companies under ICC jurisdictions. |
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12 years-Continued Acquired Alabama amended amount annual basis annual operating revenues Baltimore & Ohio Began operations Apr Belt bill Carolina carriers annual operating CHAIRMAN Chesapeake & Ohio Chicago claims class I railroad Congress consolidation plan Corporation Creek Detroit Eastern EASTMAN estimated excess estimated recapture liability excess earnings Fredericksburg & Potomac fund Gulf hearings holding companies inclusive Interstate Commerce Act Interstate Commerce Commission Kansas City Lake Erie Leased Louis Mobile & Northern Monongahela Norfolk & Western O'Fallon operations Mar paragraph Pennsylvania Pennsylvania Railroad percent period of 12 Philadelphia Pittsburgh present public interest purpose railroad consolidation railroad subject railway operating income rates Reading-Jersey Central recapture liability computed recapture provisions Reconstruction Finance Corporation repeal River section 15a securities Senator BROWN Senator DIETERICH Senator LONERGAN Senator WHITE shippers Southern Southwestern Statement showing Steel roads subject to recapture Supreme Court Texas Toledo Unity Railways Valley valuation Youngstown
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Էջ 47 - Commission shall give due consideration, among other factors, to the effect of rates on the movement of traffic by the carrier or carriers for which the rates are prescribed: to the need, in the public interest, of adequate and efficient transportation service at the lowest cost consistent with the furnishing of such service ; and to the need of revenues sufficient to enable the carriers, under honest, economical, and efficient management, to provide such service.
Էջ 54 - Upon the completion of the valuation herein provided for the commission shall thereafter in like manner keep itself informed of all extensions and improvements or other changes in the condition and value of the property of all common carriers, and shall ascertain the value thereof, and shall from time to time, revise and correct its valuations, showing such revision and correction classified and as a whole and separately in each of the several States and Territories and the District of Columbia,...
Էջ 54 - That upon the completion of the work herein provided for, the commission shall thereafter, in like manner, keep itself informed of all extensions and improvements or other changes in the condition and value of the property used for the convenience of the public by every common carrier subject to the provisions of this Act, and shall ascertain the value thereof, and shall, from time to time...
Էջ 58 - ... however such result is attained, whether directly or indirectly, by use of common directors, officers, or stockholders, a holding or investment company or companies, a voting trust or trusts, or In any other manner whatsoever. It shall be unlawful to continue to maintain control or management accomplished or effectuated after the enactment of this amendatory paragraph and in violation of its provisions. As used in this paragraph and paragraph (5), the words "control or management" shall be construed...
Էջ 7 - When used in this title, the term 'executive agency' means any commission, independent establishment, board, bureau, division, service, or office in the executive branch of the Government and, except as provided in section 403, includes the executive departments.
Էջ 51 - Complaints seeking reparation must be filed within 2 years after the cause of action accrues (section 22, Shipping Act, 1916, as amended).
Էջ 3 - ... give due consideration, among other factors, to the effect of rates on the movement of traffic by the carrier or carriers for which the rates are prescribed; to the need, in the public interest, of adequate and efficient railway transportation service at the lowest cost consistent with the furnishing of such service, and to the need of revenues sufficient to enable the carriers, under honest, economical, and efficient management to provide such service.
Էջ 9 - I am going to discuss, first of all, the recapture provision of section 15a, and then say a word about the rate-making rule after that, it may be well to begin by saying something briefly about the character of the work required in connection with the recapture of these excess earnings. In the first place, it requires a determination by the Commission of the fair value of the property of each carrier involved for each year in which there may be income to recapture. In other words, it requires a determination...