TRANSPORTATION: Loans v. Gifts

Last week the railroads of the land chuffed their freight rate problem back into the roundhouse that is the Interstate Commerce Commission. Presented by the Association of Railway Executives was a petition accepting the Commission's suggestion of a credit pool-but with major amendments.

When the I. C. C. last month rejected the roads' plea for a flat 15% rate-upping as an emergency revenue measure, it proposed, as a substitute, an increase in carload rates ($3 and $6) to add between $100.000.000 and $125,000,000 per year to carriers' income (TIME, Nov. 2). But...

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