Salt Lake Telegram | 1931-12-07 | Page 1 | Commerce Board Drops Rate Plan

COMM COMMERCE GE BOARD DROPS RATE PlAN Plan for Pooling Freight Revenue Reven e Inc Increases Withdrawn Br fly W WASHINGTON Dec 7 The 7 The Interstate interstate inter Inter- state commerce commission today withdrew v its plan lor pooling revenue from increases in railroad freight rates which It in its decision deci sion zion of f the 15 per cent cent- rate increase case case At the same time it permitted certain certain tain Increases ase to become effective e and stated stat d that we neither approve nor cl either cither the loaning pla planor plan nor the ag agency agency the carriers say they expect and Intend to use in making that plan effective However we rely on them to apply the thc funds to derived he-derived from rom the authorized authorized au authorized au- au increases in rates in aid of financially weak railroads in accordAnce accordance accord- accord Ance once with the purposes expressed in our original report Under the plan of the commission the roads Toads would set setup up the agency gency for aiding the roads whose whore bonds are cn endangered er T