Word: yielding
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Dates: during 1920-1929
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...affirmative direction to the Interstate Commerce Commission to fix rates which shall yield the railroads as a whole, or by groups, a fair return on their value. For two years, a return of 5 1-2 percent, was fixed by Congress as a fair return. After two years the Commission was authorized to fix the rate and has recently set it at 5 3-4 percent. This direction to the Commission did not constitute a guaranty either to railroads as a whole or individually. The Commission was merely directed to fix rates which should produce a fair return...
Judged alone by the developments since the passage of the Act, it has not been entirely successful. In August, 1920, the Commission fixed rates which, it was expected, would yield the railroads 6 percent on their value. If there had been no depression in business this result might have been attained, but in 1921 the aggregate return was only slightly in excess of 3 percent. The recapture provision has not yet been an issue as few roads have earned in excess of 6 percent. The provision as to rate divisions has been the subject...
...rule, but not always. A man who is honest solely because it is the best business policy is honest only from a broad perception of his own material interest, not from any moral principle. If placed in a position where a dishonest act would yield a profit and could never be discovered, or do him any worldly harm, he would have no reason, drawn from the best policy principle, to shun the dishonest act. That is if he had no sense of an inherent moral motive for being honest...
...railroads could be on a by adopting such a plan is dubious. The short New England roads unfavorably situated, cannot make a profit alone when operated under a rate-making schedule which for the larger and stronger roads in the Eastern territory. If they were to charge enough to yield the statutory rate of return upon property value, the rates would be so high comparatively that many industries would be driven from New England and the general situation would become even more precarious than at present...
...prophecy is based on the discovery that the hydrogen in one teaspoonful of water, if cornered, properly attacked with an electric current, and turned into helium, would yield 2,000,000 kilowatt hours or 275,000 horse power. This fact grants then sun a longer lease on sunbeams that was previously thought possible. Formerly the physicist believed that the geologist assigned greater antiquity to the earth and sun than the caloric energy of the two would allow. But not that it is known that sun than the caloric energy of the two would allow. But now that it is known...