Word: railroads
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Dates: during 1920-1929
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...last week like ten schoolboys appointed to settled a schoolyard dispute. They made their decision, but like schoolboys, they knew that their teachers (in this instance the nine justices of the U. S. Supreme Court) would be the final arbiters. The dispute was over the valuation of U. S. railroads. It had been stewing a long time-since 1914 when the Esch-Cummins Act went into effect. By this Act Congress ordered the I. C. C. to reckon up the values of each of the U. S. railroads according to some fair formula and to use such valuations...
...railroads accepted this national law (they secured certain guarantees of profits under it). But they have quarreled with shippers and other transportation users about the method of calculating their valuations. It takes far more money to construct a road in 1927 than it did in 1914. It might cost $140,000 now to replace completely a line that 13 years ago cost $100,000. So replacement value is the great quarreling point, because $7,000 profit is only 5% of $140,000, although 7% of $100,000. In one case the railroad earns less than it is permitted (6%) profit...
Engaged. Gilbert M. Hitchcock, 67, onetime (1911-23) U. S. Senator from Nebraska; to Martha Harris, niece of the late J. T. Harahan, president of the Illinois Central Railroad...
...Adairs?three generations of Washington Adair was conductor of the first railroad train that entered the city (1845). When Union troops burned the town in the Civil War, he was already doing a real estate business there; and he, as much as anyone else, helped the rebuilding. His sons? able, active Forrest and able, quiet George?continued to trade lots. At one time or another these men and their sons have handled practically every piece of real estate in Atlanta. Forrest Adair has won national repute among Masons for beginning, at Atlanta, the movement for Masonic hospitals for crippled children...
...past two years have taught U. S. newspaper readers to picture the sky over Germany as crossed and criss-crossed and streaming in all directions with aircraft, like a big duckmarsh at dawn. Last week a new detail entered the picture, a chain of airplanes hooked up like railroad express cars. As the flying train passes over a city, the rear plane is uncoupled. It circles noiselessly to earth. Passengers alight. Their train has vanished down the sky to leave other passengers at other cities. At some terminal city the "locomotive" will descend. ... In an experiment at Karlsruhe, a motorless...