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Show PLAN OWNERSHIP OF RAILROADS I Federal Control of Operation rf All TM nerrfJ ra finn Lines. WASHINGTON, July 22 Private ownership and operation of railroads, merged into 20 or 30 great competing systems under the supervision of a federal fed-eral transportation board, with a statutory sta-tutory rule of rate making assuring to ' the roads a net return of six per cent, was offered lo the house commerce committee todav as the plan of the National Transportation conference. Harry A Wheeler of Chicago former for-mer president of the chamber of com-merce com-merce ol the T'ni'ed States, which assembled as-sembled the conference, explained that hearings had been held for six months t which shippers railroad men, labor union officials and bankers had been heard Irom ami the plan evolved was .said to be a combination of best features fea-tures of plans already put forward I with some new elements assembled into what the conference regarded as a harmonious v hob- Continued government operation until un-til remedial legislation is enacted was urged by the conference with the limitation lim-itation thai such legislation should be enacted this year. With ihe return of the roads, at a time when many prob ably will be showing deficits, the conference con-ference thought there should be made available by congress a railroad re Berve fund of $500,000,000 administered I by the proposed federal transportation transporta-tion board for the stabilization of the roads' credit and to facilitate the recommended rec-ommended consolidations The sum eventually would br- returned to the government, |