Word: commissioners
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Dates: during 1920-1929
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Were not the I. C. C. a serious-minded body its Plan might have been entitled: "How to divide 250,000 miles of railroad into 19 systems and juggle them all into the air at once." The Commission had drawn up a set of instructions for this breathtaking feat, but...
The Plan. The Transportation Act of 1920 which returned U. S. railroads from the Government to their owners ordered the Commission to prepare a nation-wide plan for consolidation. The carriers were then weak and shaky after Federal operation. It was argued that consolidation would link the strong with the...
The general plan calls for 19 U. S. systems and two supplementary systems composed of Canadian lines entering the country. It implies a managerial unification of systems as well as financial consolidation. The Commission's prime principle was to maintain competition between systems rather than between individual roads. In...
Significance. Heretofore the I. C. C., by rejecting merger proposals, has been telling carriers how they might not consolidate. Its own plan serves to show roads how they now may. The Commission has no power to compel roads to merge in accordance with its plan, which it frankly states is...
What caused widest concern among farm cooperative leaders was the revelation by Chairman Legge of how his Board would handle future wheat loans: The Board would advance its funds to the National Farmers Grain Cooperative at 3½% which in turn would farm out in smaller loans to individual cooperatives...