Page:United States Statutes at Large Volume 41 Part 1.djvu/488

 SIXTY-SIXTH CONGRESS. Sess. II. Ch. 91. 1920. 467 the Secretary of the Treasury to make the advances referred to in this ¤‘¤·¤*¤P°¤='¤M'¤<>N M- midiiisiiri" A ‘ R *1 E c 1. 1 emesee ¤e¤ve i) e mer1can_ ai wa xpress ompan s a 1, on or before E ,, _ Y March 15 1920, file with thé &)II1II1iSSi(II1_!}»_W1‘ii»t»i§rIl statement that it d§;§;P?%m2;;§?¤* accepts all the provisions of this subdivision, the contract of June agcspted. °°° °°S 26, 1918, between such company and the Director General of Railroads, as amended and continued by agreement dated November 21, 1918, shall remain in full force and effect durintghthe guaranty period in so far as the same constitutes a guaranty on e part of the United States to such company against a deficit in operating income. In computing operating income, and any de§eit therein, for the m"g{,“g’}‘,§;{};•,{‘S°f,°_,,*g guaranty perio for the purposes of this subdivision, the Commission revenuesshall require the elimination and restatement of the operating expenses and revenues for the guaranty period, to the extent necessary to correct and exclude any disproportionate or unreasonable charge to such expenses or revenues or such period, or any charge to such expenses or revenues for such period which under a proper system E l i { of accounting is attributable to another period, and to exclude from srr¤”§°s`ix§°>°°ri°s§$m°°°° operating expenses so much of the charge for pa ent for express privileges to carriers on whose lines the express trafiiglis carried as is in excess of 50.25 per centum of gross express revenue. For the guaranty period the American Railway Express Company ,m§;‘,§’,;,‘f‘°°Y“‘°“*°‘ shall pay to every carrier which accepts the provisions of this section, as provided in subdivision (b) hereof, 50.25 per centum of the gross revenue earned on the transportation of all its express traiiie on the carrier’s lines, and every suc carrier shall acccgpt rom the American Railway Express Company such percentage of e gross revenue as its compensation. In arriving at the gross revenue on through or joint express traffic, the method of dividing the revenue between the carriers shall be that agreed upon between the carriers and such express company and approved the Commiwion. If for the guaranty period as a whole the American Railway Express ,°I§,';° ,§;§§‘§h*{;°°{,'·;: Company does not ave a deficit in operating income, it shall forth- rmsurr. with pay the amount of its operating mcome or such period into the Treasury of the United States. The amount so paid shall be added **“"·"· *5* to the funds made available under section 202 for the purposes indicated in such section. The Commission shall, as soon as practicable after the expiration ,,§f"“°°‘°°'°“‘°"'” of the guaranty period, certify to the Secretary of the Treasury the amount necessary to make good the foregoing guaranty to the American Railway Express Company. The Secreta of the Treasury P""“°“* °"°°t°d‘ is hereby authorized and directed thereupon to Haw warrants in favor of such company upon the Treasury of the United States for the amount shown in such certrneate as necessary to make good such guaranty. An amount sufficient to pay such warrants is hereby ‘“"'°”"“"°° I"' appropriated out of any money in the Treasury not otherwise appropr)8,t.3d_ · Advances to meet Upon application of the American Railway Express Company to the °”°"“'“‘ "‘P°"‘°°‘ Commission, asking that during the guaranty period there mafy be advanced to it from time to time such sums, not in excess o the estimated amount necessary to make good the guaranty, as are necessary to enable it to meet its operating expenses, the Commission may certifglto the Secretary of the Treasury the amount of, and cermscr rm repay- times at w `ch, such advances, if an, shall be made. The Secretary mg my °‘°°°°' of the Treasury, on receipt of such certificate, is author1zed_and directed to make the advances in the amounts and at the times specified in the certificate, upon the execution by such company of a contract, secured in such manner as the Secretary may determine, that upon final determination of the amount of the guaran@y_ provided for by this subdivision such company will repay to the mted States any amounts which it has received from such advances in