Word: icc
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Dates: during 1940-1949
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...public hearings had been held, ICC allowed 20 days for anyone to challenge the increases. By week's end no one had. But Railroader Robert R. Young, whose Chesapeake & Ohio is one of the 57 railroads that now own Pullman, informally rapped ICC.* "It's a pity," said he, "that the company is getting an 'increase in fares on the old junk that...
...ICC prohibits railroads from granting loans, the railroads have lined up banks in every important U.S. city to finance the plan. Beginning Sept. 1, passengers will only have to step up to the nearest ticket office to apply for a travel credit covering the fare and such incidentals as hotel bills, clothing and sports equipment. Within 24 hours, if their local credit is good, they will receive their tickets. Interest on the loans will range from 4% to 7%, depending on the bank, will be less in slack travel seasons...
...most U.S. railroads, the Reed-Bulwinkle Bill was a long-sought boon. It would exempt them from the antitrust laws. The railroads could agree among themselves on rates, as long as they were approved by the ICC. But to a handful of Senators, the bill was a camel's nose beneath the tent of antitrust legislation. They feared the whole camel would soon be inside...
...ICC granted 10% boosts in interstate passenger fares to 60 eastern railroads. The increase, to compensate for higher operating costs, will raise one-way fares from 2.2? to 2.5? a mile in coaches, and from 3.3? to 3.5? a mile in Pullmans. The 60 railroads expect to get $42,500,000 more in revenue a year...
...South & West were jubilant. Still pending were suits brought by Georgia's ex-Governor Ellis Arnall and the Department of Justice, which would try to narrow the gap between North & South still more. The ICC was planning for the day when every type of freight would move at a standard mile-for-mile rate everywhere in the U.S. When that day came, the effects on the economy of the U.S. would be incalculable...