Principles of Railway Transportation |
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Common terms and phrases
authority bondholders bonds Canal capital carload cars cent chapter Chicago classification coal combination Commerce Court committee commodity rates common carrier Congress corporation cost of reproduction decision discrimination dividends earnings Economics effect Elkins Act employees Esch-Cummins Act established expenses fact fair return favor federal government ownership Hepburn Act I. C. C. Reports increase Interstate Commerce Commission investment labor Lake lease legislation less less than carload locomotives low rates Mann-Elkins Act ment mileage miles Missouri River necessary Northern Northern Securities Company operation original cost overcapitalization Pacific Coast passenger Pennsylvania Railroad pool practically preferred stock principle profits rail railroad railway reason rebates reduced regulation reorganization result River roads securities shipments shippers short haul clause Southern Pacific stockholders Supreme Court tariff terminals territory tion trainload transportation trunk line Union Pacific valuation wages water competition West York Central
Popular passages
Page 261 - What the company is entitled to ask is a fair return upon the value of that which it employs for the public convenience. On the other hand, what the public is entitled to demand is that no more be exacted from it for the use of a public highway than the services rendered by it are reasonably worth.
Page 189 - Property does become clothed with a public interest when used in a manner to make it of public consequence, and affect the community at large. When, therefore, one devotes his property to a use in which the public has an interest, he, in effect, grants to the public an interest in that use, and must submit to be controlled by the public for the common good, to the extent of the interest he has thus created.
Page 288 - ... and we concur with the court below in holding that the value of the property is to be determined as of the time when the inquiry is made regarding the rates. If the property which legally enters into the consideration of the question of rates has increased in value since it was acquired, the company is entitled to the benefit of such increase.
Page 193 - The question of the reasonableness of a rate of charge for transportation by a railroad company, involving, as it does, the element of reasonableness both as regards the company and as regards the public, is eminently a question for judicial investigation, requiring due process of law for its determination.
Page 202 - Wherever the interstate and intrastate transactions of carriers are so related that the government of the one involves the control of the other, it is Congress, and not the State, that is entitled to prescribe the final and dominant rule, for otherwise Congress would lie denied the exercise of its constitutional authority and the State,. and not the Nation, would be supreme within the national field.
Page 543 - ... so that carriers as a whole (or as a whole in each of such rate groups or territories as the 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 property of such carriers held for and used in the service of transportation...
Page 190 - In countries where the common law prevails, it has been customary from time immemorial for the legislature to declare what shall be a reasonable compensation under such circumstances, or, perhaps more properly speaking, to fix a maximum beyond which any charge made would be unreasonable The controlling fact is the power to regulate at all.
Page 200 - The authority of Congress extends to every part of interstate commerce, and to every instrumentality or agency by which it is carried on ; and the full control by Congress of the subjects committed to its regulation is not to be denied or thwarted by the commingling of interstate and intrastate operations.
Page 378 - ... the fact that the employee may have been guilty of contributory negligence shall not bar a recovery, but the damages shall be diminished by the jury in proportion to the amount of negligence attributable to such employee...
Page 212 - That it shall be unlawful for any common carrier subject to the provisions of this Act to charge or receive any greater compensation in the aggregate for the transportation of passengers or of like kind of property, under substantially similar circumstances and conditions, for a shorter than for a longer distance over the same line, in the same direction, the shorter being included within the longer distance...