Salt Lake Telegram | 1918-01-22 | Page 11 | National Railroad Corporation Plan

NATIONAL RAILROAD CORPORATION PLAN Solution of Government Control Seen in Suggestion Suggestion S tion Before Senate I I. I By ey United Press 1 WASHINGTON N. N Jan 22 With With the question of ot government ownership of railroad swaying I It In its consideration of ot the pending rall railroad ad control bill bill the senate interstate commerce committee commit commIt- tee which resumed hearings on the bill today had before it a new plan r for r solving the railway problem The plan advanced ed by former Senator Senator Senator Sena Sena- tor member of the Kansas public service commission con contemplates contemplates tern plates the organization of a national corporation to absorb the tho railroads and operate them under government tion S who told the the- committee that the present method of ot control would not work because many roads would be excluded proposed the national national national na na- na- na corporation directed by a board of nine named by the president Under his plan stock in the new corporation would be exchanged at par for tor railroad stock at its market quotation quotation quo quo- tation and stock not exchanged could be forcibly exchanged through condemnation condemnation con con- pro proceedings S Stock In the now corporation would handle all matters of operation Including Including ing wage questions R Rates tes would be fixed by the interstate commerce con com commission coni- coni mission and e earnings of ot the corp corpora corporation ra tion would be limited by bJ such rate fIxIng fixing fixing fix fIx- ing to dividends of 4 to 6 0 per cent With the physical phy railroad properties properties properties proper proper- ties behind it It said I would rather have havo this sto stock sock k paying 4 per percent percent percent cent than government bonds paying the same samo amount