Page:United States Statutes at Large Volume 40 Part 1.djvu/470

 452 SIXTY-FIFTH CONGRESS. Sess. II. Ch. 25. 1918. to the Interstate Commerce Commission, that during the period of such Federal control it shall receive as just compensation an annual , sum, pa able from time to time in reasonable installments, for each N¤¢$¤¤¤s¤¤¤d¤v¤mz¤ year and, pro rata for any fractional year of such Federal control, not °°°ming m°°m°` exceeding a sum equivalent as nearlixas may be to its average annual railway 0 rating mcome for the thee years ended June thirtreth, Exm mom the nineteen  and seventeen. _ _ _ 5,-Opmy of Umm That any railway operating income accruing during the period of °°“’“· Federal control in excess of such Ijlust compensation shall remam the mms mcraaaiasm- property of the United States. the computation of such mcome, °°'“"· debits and credits arising from the accounts called m the monthly reports to the Interstate ommerce Commission equrgmentrents and wgytgfgclgggdfdc mib jomt facility rents shall be mcluded, but debrts an_ credits arising ' rom the operation of such street electric passenger railways, mcluding railways commonly called interurbans, as are at the time of the agreecomputations or ru- ment not rmder Federal control, shall be excluded. lf any lines were §2c'T§i‘{{¤'§‘}$,’j,?`{?{§,‘{§_d* acquired by, leased to, or consolidated with such railroad or system between July first, nineteen hundred and fourteen, and December thirty-first, nineteen hundred and seventeen, both inclusive, and separate operating returns to the Interstate Commerce Commission were not made for such lines after such acquisition, lease, or consolidation, there shall (before the average is computed) be added to the total railway o rating income of such railroad or system for the three years endieiil June thirtieth, nineteen hundred and seventeen, the total railway operating income of the lines so acquired leased, or consolidated, for the period beginning July first, nineteen hundred and fourteen, and ending on the date of such acquisition, lease, or consolidation, or on December thirty-Hist, nineteen hundred and _ ¤j_’_§_'”“m°*seventeen,_whichever is the earlier. The average annual railway operating mcome shall be ascertamed by the Interstate Commerce Commission and certified by it to the President. Its certificate shall, for the purpose of such agreement, be taken as conclusive of the amount of such average annual railway operating income. mf§S§’m°“" °* “’ Every such agggement shall provide that any Federal taxes under Am, p. soq. the Act of Octo r third, nineteen hundred and seventeen, or Acts P°""P‘1°T°‘ rn addition thereto or in amendment thereof, commonly called war taxes, assessed for the period of Federal control beginning Janu _ first, nineteen hundred and eighteen, or any part of such period, slilii be paid by the carrier out of its own funds, or shall be charged against °"‘°"°‘°”· or deducted from the just compensation; that other taxes assessed under Federal or any other governmental authority for the period of Federal control or any part thereof, either on the property used under such Federal control or on the right to operate as a carrier, or on the revenues or any part thereof derived from operation (not including, however, assessments for public improvements or taxes assessed on property under construction, and chargeable under the classification of the Interstate Commerce Commission to investment in_ road and equipment), shall be paid out of revenues derived Ia;’:§¤{¤;?Sx>¤<>r to from railway operations while under Federal control; that all taxes ’ assessed under Federal or any other governmental authority for the period prior to January first, nineteen hundred and eighteen, whenever levied or payable, shall be paid b the carrier out of its own funds, or shall be charged against or deducted from the just coréipensatiolri. han als d Provisions m main- very suc eement s o contain a uate and appropriate °°““°°°’”p°'”’°t°‘ provisions forsiilie maintenance, repair, reneiivgals, and delpgecijation of the property, for the creation of an reserves or reserve frmds found necessary in connection therewith, and for such accounting and adjustments of charges and payments, both during and at the end of Federal control as may be requisite in order that the property