Page:United States Statutes at Large Volume 41 Part 1.djvu/502

 SIXTY-SIXTH CONGRESS. Sess. II. Ch. 91. 1920. 481 agreement, or combination with any other common carrier or car- “¤'¤’°“-*¤°¤ M- riers for the pooling of freights of different and competing railroads, or to divide between them the aggregate or net proceeds of the earnings of such railroads, or any portion thereof; and in any case of an agreement for the pooling of freights as aforesaid each day of its P,,,,,_,,,_ continuance shall be deemed a separate offense: Promkled, That when- ,0 ¤°;¤·¤;g¥é ever the Commission is of opinion, after hearing upon application of in meas: or mwany carrier or carriers engaged in the transportation of passengers “°"‘°°·°°° or propert subject to this ct, or upon its own mitiative, that the division og their traffic or earnmgs, to the extent indicated b the Commission, will be in the interest of better service to the public, or economy in o ration, and will not unduly restrain competition, the Commission shxill have authority by order to approve and authorize, Héxmtgg ·¤ ¤¤‘· if assented to by all the carriers involved, suc division of traffic or °° ` earnings, under such rules and regulations, and for such consideration as between such carriers and upon such terms and conditions, as shall be found by the Commission to be just and reasonable in the mmiS6s' . . A uisition of con- "i2) Whenever the Commission is of opinion, after hearing, upon troludf other carriers application of any carrier or carriers  in the transportation ““,§"‘§,",,§‘,;,,,, ,0 bo o passengers ordpropertg subject to this ct, that the aequisitton, ¤¤¤<i;- to the extent m icated y the Commission, by one of such ca.rr1ers of the control of any other such carrier or carriers either under a lease or by the dpurchase of stock or in any other manner not involving the consoli ation of such_carr1ers into a single system for ownershi and operation, will be m the public interest, the Commission m§,§{,_°"°' by °°‘“" shall have authority by order to approve and authorize such acquisition, under such rules and regulations and for such consideration and on such terms and conditions as shall be found by the Commission to be just and reasonable in the premises. "(3) The Commission may from time to time, for good cause d£‘§E°°°°°°` °" shown, make such orders, supplemental to any order made under paragraH_l;1 (1) or (2), as it may deem necessary or appropriate. comudmon 0,,,,,, "(4) e Commission shall as soon as practicab e prepare and mwsyswmswmvre adopt a plan for the consolidation of the railway properties of the "°°°°‘ continental United States into a limited number of systems. In the ’,{&°¤•¤°°°’°°¤· division of such railways into such systems under such plan, com- p° petition shall_be preserved as fully as possible and wherever prac- - ticable the exist? routes and channels of trade and commerceshall be maintained. ubject to the foregoing requirements, the several ,,,Y,‘§*;}"‘,`:,,'1',§_°“’ °‘°" systems shall be so arranged that the cost of transportation as between competitive systems and as related to the values of the properties through which the service is rendered shall be the same, so ar as racticable, so that these systems can employ uniform rates in tli>e movement of competitive traffic and under efficient management earn substantially the same rate of return upon the value of their respective railwayl properties. _ _ "(5) When the COIDI!11SS1Ql`t as agreed upon a tentative plan, it ,,§:,"§°,,,§‘,{"‘°°°""°‘ shall give the same due publicity and upon reasonable notice, including notice to the Governor of each State, shall hear all persons who may file ogg present olbjecpions theilreto. The gomfzission xg aughonzed ¤¤¤i¤&¤·¤*¤· to rescri aproce ure or suc earings` an to atime or ringing 0 ,._ them to a close. After the hearings are at an end, the Commission aaiaiiiipriiirxi. I shall adopt a_plan for such consolidation and publish the same; but it may at any time thereafter, u on its own motion or upon application, reopen the subject for such changes or modifications as  its judgment will promote the public interest. The consolidations herein provided for shall be in harmony with such plan. _ " (6) It Shall be lawful for two or more carriers by railroad, subject  c§’,{,Y‘,,2§ to this Act, to consolidate their properties or any `part thereof, mtv ¤¤¤·•*¤>*¤¤- one corporation for the ownership, management, an operation of the