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...

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