Word: icc
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Dates: during 1940-1949
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...industrial advantage of the East & North could not be pinned on transportation costs alone. Industry had grown and spread there for many reasons. But in 1945 the ICC agreed that freight rates helped to preserve the advantage. The ICC ordered freight rates on manufactured goods raised 10% in the East, cut 10% everywhere else east of the Rockies...
...problem is an old one, almost as old as railroads themselves. When the roads first started expanding after the Civil War, they charged whatever the traffic would bear. In the South & West, where roads were few and traffic was light, they fixed high rates. By the time the ICC got around to codifying the rates in 1928, the regional pattern was set and the ICC accepted it. In the South, rates averaged 37% over the East; in the West...
Arrested Development. Last week, by a 7-to-2 decision, the Supreme Court upheld the ICC's decision. Said Justice William O. Douglas, for the majority: "The effect of the discriminatory rates is not only to impede established industries but to prevent the establishment of new ones, to arrest the development of a state or region, to make it difficult for an agricultural economy to evolve into an industrial...
...confined itself to the coastal trade (the Hawaiian run was abandoned in 1917). But the war set it to operating War Shipping Administration ships all over the world. Now, with operating costs up 100%, A-H does not see how it can go back to coastal runs at present ICC-fixed rates. It is operating twelve vessels for the Maritime Commission. But this service may stop next July...
...return for a release of the Central stock, Young told ICC he would gladly place his holdings in the Nickel Plate (which competes with the Central) in a similar voting trust. If all goes well with plans for unifying the Central and the C. & O., said Young, the Nickel Plate stock would be disposed of entirely. Finally, Young asked that he, as C. & O.'s board chairman, and Robert J. Bowman, as C. & O.'s president, be permitted to accept an invitation to join Central's board of directors (TIME, March...