| Show I A R FIEl FIELD I RAIL PLAN URGED R ED BY Y YI I OW OWNERS ER Six ix Per Cent Guaranteed i 1 on Capital Invested Surplus Surplus Sur- Sur plus Divided Between s Men Ien Public and Road i I If I I f BV By A Pres Press Aug 14 A A plan I f devised by S S S' Davies ies field Warfield I Baltimore under which the go gov- in the thc reorganization iz non non- of r would provide a minimum turn turn of G ci per pen cent on invested cap- cap ill iii with division of all surplus over O J liat mf amount among among- the and the carnin earning road was out- out ned today w to the public interstate J v L Walter lI r or ien general raf for tor the thc National atonal Association of or of ot Railroad Securities which the plan discussed Its various r pints hints with the thc committee at a five I our ur session and declared it could be bet 7 ut t into effect at once or certainly Ith the thc return of the roads road to lo private at at the tue end of oC the year car II Labor to o Sha t The Tue right of oC labor Jabor to sh share rc in the x 9 of J the roads was laid down don by byr r. r r. r WalL Walter r 1 as one of oC the fundamentals tho plan lan He JIe challenged cd the sharply conten- conten on ad on of l r K Plumb i author author of oC the I bor her plan for or tripartite control that t ic C e property investment account of ot ofie ote I ie e railroads railroad would not hOt r I or 1 Tho total would reach Teach 1 tf Walter aller said at thome tho the theLine thoLine Line me expressing the confident be beef bl- bl ef r that the courts would uphold sub- sub t this valuation jn In In the thu general exchange c of ot views on onic ic present da day 1 transportation situa- situa ion n Mr tr Walter Waller declared the roads ouid uld have hac been moro more successfully na d for or war purposes under fite Uc lc control To turn lurn them back now ic c raid paid replying to an inquiry Ir as to lo 1 hether this might help to reduce tho 1 deficit would shift to lo tho the II ads ds ds a burden the government o should J. J frear ear IJ Plumb Plan Out COot of or line P The hc c plan would have havo the commerce commission fix r on a basis which after pa paying ln lne h ie e co cost t of or operation would woul net the minimum return of or 6 C per pcr cent Th rJ c Plumb plan sits char characterized Mr r. Walter as 15 a shibboleth which jad d d attracted some people but which declared was impossible It Is not noti i line with our institutions he added nd id could not nol h help if IC adopted t Thc keystone of or the Warfield plan DC e witness said Is ls Is a con congressional dl- dl Uon to the interstate commerce I that it shall sh make freight d d' d rales rates sufficient to pay expenses maintain railroad I and give not less than lhnn C Ij per pcr nt return upon the a aggregate fair Ne Je of oC the property devoted to trans- trans nation in each of or lh the trat- trat n territories W iVe believe that capital Is entitled Us return of 6 G per cronl that labor entitled to a fair wage and that the eE ts e-ts earned by the carriers after ru ipg Ing fair Jar wages and 6 G per cent upon Ital hould be divided dl with Ith labor the the public S l Labo Laboris M i Share horr ShareS Sharer r S ibor's bors share should should be used for establishment of or the Insurance or r for Profit I y y reason of the J largely increased l I which will full fall upon the cornin com corn mon Ion tho the security h holders ask ConI Cons Conto Con- Con I s to create six Ix Interstate coinS corn com S e commissions subordinate to tho 4 S but with all aU tho the powers of oC interstate commerce commission con r respective territories 1 jie he plan contemplates that these 0 nal Onal shall hall act as ash rs 8 of oC h In settling wa wage c utes being a body rl close se to the tho em- em e. e l. l the carriers and the shippers i ijo Iio o Issuance of oC securities of ot nil all nilS S jers rs engaged a ed in Interstate corna corn corn- a would be vested exclusively in ai J authority F jIs Plan would create a a- a operated with profit to the thc rail rail- H nl anil managed ed b by the nine hf 5 commerce commissioners and pi railroad men selected by the ra rail rail- U- U s. s |
