OCR Text |
Show IMMEDIATE RATE BOOSTDENIED WASHINGTON, Dec. 10 (UP) The Interstate commerce commission commis-sion today overruled the railroads' motion for permission to increase freight rates IS per cent on five days' notice Commissioner Clyde B. Aitchison announced the ruling today when (Continued on P.r four) ( Column Four) IMMEDIATE RATE -BOOST-DENIED (CootkiiM treat rase Out afternoon hearings commenced on the carriers' plea. "The commission has directed me t announce that the motion of the railroads filed yesterday for authority author-ity to increase rates immediately is overruled," Aitchison announced. The ICC ruling came after Presence Pres-ence today expressed concern as to the carriers' financial plight and said that he favored continuance of private railroad ownership. The president indicated that he felt the carriers needed more revenue reve-nue and that an early decision on their rate increase request was desirable. de-sirable. ' He also indicated that he opposed 1 subsidisation of the roads, pointing out that to subsidise on privats corporation cor-poration would mean that the government gov-ernment would owe the same obligation obliga-tion to other businesses in the event they became financially unstable. Mr. Roosevelt said that the first responsibility as to the railroad situation, sit-uation, which ha characterised as difficult in many ways, rested with the ICC. He added that the rail situation Improved temporarily with the business bus-iness rise, but added that the I C C itself felt that no permanent railroad rail-road betterment had been achieved. He made it clear that the last thing the government wanted was to taks ovar ths railroads; but he observed, the road can not operate through receiverships. |