Page:United States Statutes at Large Volume 41 Part 1.djvu/486

 SIXTY-SIXTH CONGRESS. Sess. II. Ch. 91. 1920. 465 lump sum as compensation for the whole period of Federal operation, “Ij{*o¤go°o§f;,j’§o”oo°:; that the railway 0 erating income of such carrier for the aranty tracts. period as a whole .£all not be less than an amount which shiill bear the same proportion to the lump sum so fixed as six months bears to the number of months during which such carrier was under Federal operation, including in both cases the increases in such compensation ' ` provided for in section 4 of the Federal Control Act; (2) With respect to any carrier entitled to just compensation under oofligf °°“*’°°* "“h the Federal Control Act, with which such a contract has not been Hal`! ci annual made, that the railway operating income of such carrier for the i1‘€'§3Lp°$m?§$,§ guaranty period as a who e shall not be less than one-half of the annual amount estimated by the President as just compensation for such carrier under the Federal Control Act, includinlg the increases in such compensation provided for in section 4 of the ederal Control Doooommooioo H oo Act. If any such carrier does not accept the President’s estimate timate ms acc6Pt¤d· respectinlg its just compensation, and if in proceedings under section 3 of the ederal Control Act it is determined that a larger or smaller annual amount is due as just compensation, the guaranty under this paragra h shall be increased or decreased accordingly; Amount mowed if (3) Vgith respect to anyé carrier, whether or not entitled to `ust ¤¤ estimga h<;gg¤$¢ compensation under the ederal Control Act, with which such a §§°g'§E?°S° °° °°° contract has not been made, and for which no estimate of just compensation is made by the President, and which for the test period as a whole sustained a deficit in railway operating income, the guaranty shall be a sum equal to (a) the amount by which any deficit in its railway operating income for the guaranty period as a whole exceeds one·half of its average annual deficit in railway operating income for the test period, plus (b) an amount equal to one- alf the annual sum fixed b the President under section 4 of the Federal Control Act; (4) %Gth respect to an carrier not entitled to just compensation ,,o;·o“°§“°§¤t§‘fod°“{g under the Federal Control Act, which for the test period as a whole ¤¤¤¤p¤¤S¤¤¤¤ lp¤d·=r had an average annual railway operating income, that the railway F°d°"" mum °°` olperating income of such carrier for the guaranty period as a whole s all not be less than one-half the average annual railway operating income of such carrier dining the test period. (d) If for the guaranty period as a whole the railway operating o,°,*§fo°m§°o’;,{§ income of anfy carrier entitled to a guarant under paragraph (1), my- (2), or (4) o subdivision (c) is in excess ofythe minimum railwa operating income guaranteed in such paragraph, such carrier shall forthwit pay the amount of such excess into the Treasury of the United States. If for the guaranty period as a whole the railway oper- If ¤° °¤“¤*¤*° meating income of any carrier entitled to a guaranty under paragraph (3) of subdivision (c) is in excess of one-half of the annual sum fixed by the President with respect to such carrier under section 4 of the Federal Control Act, such carrier shall forthwith pay the amount of such excess into the Treasury of the United States. The amounts Use cxpcymcau. so paid into the Treasury of the United States shall be added to the 4,,,,,,, ,5, funds made available under section 202 for the purposes indicated in such section. Nothwithstanding the provisions o this subdivision, aczmtachgiimmt any carrier may retain out of any such excess any amount necessary ‘°” km ° gw to engble it to pay its fixed charges accruing during the guaranty perio. (6) For l?h6 PUTPOSBS of this SGOti0l1 railway operating income, or c%iput¤ri¤¤ for test any deficit therein, for the test period shall be computed in the man- p°i·`c1.'4o, p. 452. ner rovided for in section 1 of the Federal Contro Act. _ (fi) In computing railway operating income, or any deficit therein, ,,,,§‘}°§§¥,"§d_ '°‘ for the guaranty eriod for the p of this section- (1) Debits and) credits arising lrom the accounts, called in the mgg§o'j_ md °’°*“" monthly reports to the Commission equipment rents and joint facility rents, shal be included, but debits and credits arisirgg from the operation of such street electric passenger railways, in uding rul-