Word: freighted
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Dates: during 1920-1929
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Their plan as presented to the President called for the revival of the United States Grain Corporation to undertake the orderly marketing and production of grain. They asked for lower railroad freight rates on grain and flour and for an extra session of Congress, called at least a fortnight in advance of the regular session (which starts Dec. 3), to pass appropriate legislation. They did not ask a fixed price for wheat or a higher tariff on that product...
...railroads of the country are caught in a cross-fire between the trainmen and conductors on one hand (who are asking a 12% increase in wages) and the demands of the farmers and others for lower freight rates. At the same time there will be a substantial demand in the next Congress for the repeal of the Esch-Cummins Railroad Act. All these things the railways do not relish...
This discomfiture might take several forms. It might mean higher freight rates ? which is improbable because of Congressional opposition. It might result in poorer service. Or it might entail loss to the holders of railroad securities. According to the Interstate Commerce Commission there were 777,132 railroad stockholders on Dec. 31, 1922. The bondholders are even more numerous, and include, as has often been pointed out, many savings banks. So actually millions of people are indirect holders of railroad securities...
...attempt to lower freight rates and to repeal the Esch-Cummins Act will be vigorously fought by the roads. They are not at all satisfied with the Act, and a few months ago were in favor of vital amendments. But under the shadow of a demand for the repeal of this Act and the substitution of less favorable legislation, the railways have rallied to its defense...
...Freight and passenger rates are fixed or controlled entirely by a Government Commission...