Show All BH BROKEN IN INCON CON CONGRESS Rf Antistrike Clause Is Thrown Out Ratemaking Provision Provision Provision Provi Provi- t I. I sion Modified r WASHINGTON Feb 5 Casting Casting aside the antistrike provision of ot the Cummins bill against which labor has leveled protests and threats threat and modifying the tho ratemaking clauses of ot the same measure senate and house houe representatives late Wednesday reached virtu virtually any a complete agreement agreement agreement agree agree- ment on legislation le designed to meet conditions growing out of the return of ot the railroads March 1 to private control For the antistrike provision the committee agreed to substitute what in effect ett ct amounts to tn compulsory submission of ot wage disputes to a federal board appointed by the president pres pres- ident FINAL REPORT THIS WEEK A number of ot minor differences re remain remain remain re- re main to be composed but these willbe will willbe be worked out by Senator Cummins of ot Iowa chairman of ot the senate managers managers managers man man- agers and Chairman Chaiman Esch of the house conferees A final report on the legislation is anticipated late this week and efforts will be made to expedite consideration of the report in order to insure the bills bill's passage passage before March 1 Reaching of ot an nn agreement on on the theE E ch bill passed by the house and the Cummins bill enacted by bf the senate broke a deadlock that tha has haa i exist existed d several we weeks ks due principally to the ho house se conferees' conferees refusal to toI accept the antistrike provision of the i I latter measure House members also opposed the senate ratemaking sec sec- tion SETTLEMENT BY BOARDS In agreeing on on labor provisions provi ions the conferees 1 struck out the clause ol ot the senate bill which would virtually make strikes Illegal megal by penalizing railroad or employers for foi entering conspiracies Into for the purpose purpose purpose pur pur- pose of interfering g with interstate commerce and provided in lieu settlement settlement settlement set set- of labor disputes by boards equally qu of ot and employers The findings of these thes boards must be approved by a a federal board appointed by by the president with the tho senates senate's approval l to which ap appeals appeals appeals ap- ap peals must be taken in cases in which agreements are not reached by theother the theother theother other boards While the size of ot the of-the the latter board has hs not been definitely fixed Senator said it would probably be of ot five members All AU closes classes es of railroad Senator Cummins said are to have representation Anon unon the lo lower er wa wars wac boards Since the government will not be represented upon these boards the senator explained settlement of ot labor disputes disputes' cannot annot be made compulsory com com- corn com compulsory by them but It is compulsory that in event of ot disagreement the dispute be referred to the federal board for settlement 5 PER CENT GUARANTEED i Under the agreement on n the ratemaking ratemaking rate rate- making makin section a a return of ot 5 5 percent per percent percent cent upon the net railway operating income is guaranteed for tor a period from eighteen months to two y years ars after atter- the after the bill becomes a law The he exact period would be fixed later bythe bythe by bythe the conferences s. s The senate te bill prescribed prescribed prescribed pre pre- scribed a year five-year period Provision is also made Jn tn t the e compromise compromise compromise com com- comi i promise that with with the interstate commerce commerce commerce com com- one halt half merce commissions commission approval one of ot 1 per cent of ot the earnings nay may maybe nY be given to the railroad responsible for such each for the earnings P s and Used unproductive improvements as erection erection tion of ot terminals or elimination n of ot grade crossings Fifty ner cent of ot the earnings in excess e ceM of the G 0 6 per cent will go to the railroads producing the excess return while the theother other half halt goes to a railroad contingent ent fund administered b by the c commission and used for tor the purchase of ot rolling stock and other equipment to be rented to the weaker roads to whom loans from this fund also may be made POWERS OF COMMISSION further The bill bIU as compromised authorizes the interstate commerce commission to prescribe rates which will yield revenue by which this fixed return may be guaranteed and a after ter the termination of ot the period during which this this- return is effective the commission Is authorized to agree agre upon the percentage of return and fix rates rate accordingly ly in order to continuation injure its Us The Cummins bill bIU provided that one halt of earnings in excess of ot G 0 per cent and not exceeding exceeding 7 per cent would have been placed In a reserve fund and the rem remaining one one half one half would have gone into a general genera railroad rail ran road contingent fund Another important section s ree a n agreed ed upon by the conferees sand and which Is expected to prevent much state litigation litigation litigation coma te commerce com eom- tion provides that the Interstate mer merge merce e commission may suspend or rates during the six months change change- period after atter the roads ds are e released by the government also agreed d with a R. The conferees Poindexter ahee sll alight ht modification on the Poindexter long and short haul amendment |