RAILWAYS: Dayton and Goose Creek

The Supreme Court for the third* time in recent months upheld the Transportation Act, generally known as the Esch-Cummins Railroad Law.

The provision of the act in question was the so-called "recapture" clause. By this clause the Interstate Commerce Commission, after fixing freight rates and a fair rate of return on the assessed valuation of each road, may "recapture" one-half of the earnings of any road which exceed such a "fair return." The rate of a fair return has been fixed by the Commission at 5.75% per annum. The moneys received by the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!