Coal Review Volume 3

Coal Review Volume 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ...resolution, carrying an implied criticism of the I. C. C. with its mandatory instructions from Congress to order cuts in rates and charges, could be passed without a vigorous fight. But all admit that it represents the demand of the great body of shippers throughout the central and middle western section of the country. They were fearful of other outbreaks. HARDING ENLISTED Senator Cummins enlisted the assistance of President Harding, and it became evident at once that the Administration was moving to help bring relief to the people from high transportation costs. The executives of the leading railroads were called into conference. They expressed a willingness, even a desire to reduce rates in the hope of encouraging shipments, but pointed out that existing operation costs due in large measure to high wages had depleted their treasuries of cash and they were in no position to weather a period of decreasing receipts as a result of freight rates cuts. I. C. C. officials explained that under provisions of the Cummins-Esch Transportation law the Railroad Labor Board has jurisdiction over railroad wage while the Commission is instructed to maintain rates and charges at a level that will insure to the railroads a 5% percent. interest on their valuation. Present net earnings of the railroads, it was shown, do not justify a reduction in rates under provision of the l1lW. RAILROAD AID ADVANCED Senator Cummins called a meeting of the Senate Interstate Commerce Committee, to consider the railroad relief bill as it passed the House and possible changes necessary to be made to it in order to meet the existing emergency conditions as voiced in the Dowell resolution. The relief bill authorizes acceptance by the Railroad Administration and the War...
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Product details

  • Paperback | 812 pages
  • 189 x 246 x 41mm | 1,420g
  • United States
  • English
  • black & white illustrations
  • 1236815742
  • 9781236815743