Show I I I I is week in Ladies' Ladies and Waists III ats H H Hats t tk etc l. l ave for money you ilI tan i the bill reported by y ybur your ate Of even greater ido the do not impose undue burdens th the r rall- rall ways of the country or with the power of the railway managers for the proper operation of the roads et they do confer upon the shipping pUb lc the investing public and the people aJ large benefits of tr tremendous value To Centralize Court Jurisdiction Referring to the commerce court covered covered cov coy ered In the first three sections of the bill the report says it is proposed to centralize central central- ize the existing authority and jurisdiction tion of circuit courts in one commerce court but without enlarging such jurisdiction jurisdiction jurisdiction juris juris- diction or authority The present Jurisdiction jurisdiction Juris juris- diction of the United S States ates courts courts' to to set aside the interstate commerce commission commission com corn mission orders is believed by many to be limited to the determination of jurisdIctional facts and to the question of confiscation confiscation cation by the taking of property without without with with- out due compensation An inhibition against purchase or lease of capital stock of a directly or substantially substantially competitive railroad or 01 water line Is made in section 12 which also prohibits the same person serving on directorates It permits any corporation designing to acquire interest in another similar corporation to make snake a preliminary agreement and to file a petition with the commerce court for tor permission to carry carryout carryout out the agreement The committee however however how how- ever Is considering reporting a committee amendment to have the petition filed d with the commission Instead of with the commerce commerce com corn merce court Railway securities propositions are embodied embodied em em- bodied In the concluding sections They prohibit railroads from issuing an any stock or bonds except upon application to the commission which is to specify the respective re respective re- re amounts of stocks bonds etc authorized to be Issued for the respective purposes to which the proceeds are to be applied and stating the price their price their reasonable reasonable rea rca value at value at which such securities may be sold The commission is authorIzed authorized authorized author author- to Issue certificates in relation to stocks and bonds and to penalize officers or stockholders who assent to prohibited Issues Common carriers are authorized t to tb enter enter en en- en ter into agreement specifying freight classification clas cles and passengers and freight transportation charges notwithstanding existing laws Including the Sherman antitrust antitrust antitrust anti anti- trust law if It a copy of the agreement in inform inform inform form and detail prescribed i by the commission commission com corn mission is filed with that body within twenty days after It is made and at least thirty days before the classification or charges go into effect The Tho commission however Is vested with full authority In Inthe Inthe inthe the matter and may suspend their taking effect Pooling Prohibited The members are expressly prohibited prohibited- from making any agreement of pooling or division of earnings under penalty Along A J J long and short haul clause is embraced f f In the bill prohibiting a greater rate for sa s- s a shorter than a longer distance over the same line In the same direction the shorter being within ln the longer loner or from receiving a a. greater compensation as a through rato rate than the aggregate of the local rates though special exceptions are i authorized t o ff k Other e s sections of t the bills enlarge th sc scope of f complaints g ln authorize t the geco commission com i mission to establish through rout routes and I Joint classification and rates though thou th e ex- ex empting water traffic and street electric electrio passenger railways s 's not engaged in gap gap- oral eral freight business to call for reasonable reeson reason able facilities and to have representation in court proceedings etc J. J j. j All of the minority members of the t committee In a separate re report ort oppose I Ithe t the commerce court the change In the law requiring notice and hearings on restraining restraining re- re straining orders and the provision legalizing legalizing legalizing legal gal izing agreements among carriers If filed even If not approved by the Interstate commerce commission Further they think J the commerce court should not be a au an- r to legalize consolidation by per the acquisition of one competing line lino by another They condemn the manner in which the bill was introduced the executive n IK ins having drawn bills and t tOvel selected sponsors t to to- introduce them t tl each cah house They object to the repeal of or the proviso pro pro- viso in the act to regulate commerce Continued on page 9 |