Word: icc
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...Chandler of Kentucky, Cone of Florida, Browning of Tennessee, Hoey of N. C., Johnston of S. C., Rivers of Georgia and Graves of Alabama 1 year ago banded together in a loosely formed "conference" to attract new industries to the South- principally by advertising their States and getting the ICC to fix lower Southern freight rates. Last week, Franklin Roosevelt looked up from his desk to see the smiling faces of seven of the Governors* plus those of his old friends, former Governor Oliver Max Gardner of North Carolina (now a politico-lawyer in Washington) and former Assistant Secretary...
Chairman Jesse Jones explained RFC's hardheartedness as simply that "a matter of principle is involved." The ICC approved an RFC loan to the Erie on the I condition that C. & 0. guarantee it or put j up part collateral. C. & O. flatly refused, explaining that its first duty was to protect its own stockholders. Snapped Jesse Jones, after new C. & 0. President George D. Brooke refused to discuss the matter: "If C. & 0. is unwilling to nurture its own child. I do not see why the Government should. It seems a funny thing to me that a railroad...
...railroad men and business leaders have almost unanimously maintained that the alternative to a rate rise is Government operation. Hearings before the Interstate Commerce Commission in Washington by last week had become such a unanimous parade of evidence that almost everyone began to take it for granted that the ICC would certainly grant a substantial part of the rise. Railroad stocks climbed a little from their lows...
...quasi-judicial body, the ICC is accustomed to ponder its decisions long and earnestly. But established practice before any commission allows a petitioner to request an immediate emergency order after presentation of ample evidence pending a final decision. Last week the railroads resolved to take this step. Through the Association of American Railroads they asked that the ICC provide an emergency rate rise immediately to last until February when final hearings had been scheduled. The reason: many roads could not hold out two months longer...
...White House the President soon afterward called newshawks to unburden himself. First, he said, he had discussed the advisability of the RFC making further small railroad loans. Asked if the Government would do anything else for the lines, he declared that the major responsibility rested on the ICC, that rail-road economics is one of the most serious problems facing the nation, that he did not believe any member of the ICC yet had a good solution for the problem, that he himself had none. Of one thing Franklin Roosevelt was sure, however: the last thing he wanted was Government...