Page:United States Statutes at Large Volume 41 Part 1.djvu/503

 482 SIXTY-SIXTH CONGRESS} Sess. II. Ch. 91. 1920. §"°" *“· properties theretofore  separate ownership, management, and oper· A mu I C ation, under the following conditions: _ m1,§iE¤,.,tc. ° °m` "·(a) The propgsed consolidation must be in harmony with and m fizrtlileikaiiice mg t cobxgplete plgdn of ctasnsolidation mentioned in para· 5 an must ·a rov e ion; . ¤3¤‘L'l’f°“°“‘°°k“m` gr?P(b) 'ghgobvllds ag ppglbf the cgrrporatipgrltcwmaihilmhto become-1 the owner 0 t co at  e rwi theoutstan ing V 81 t_ I capital stock tagzdpar of suchrcorgorationtiljghall not exceed the value of ria. °° '°”° °r°P°”` the consolida properties as etermined by the Commission. The VM- 37, p- 701- value of the propertiessought to be consolidated shall be ascertained by the Commission under section 19a of this Act, and it shall be the duty of the Commission to proceed immediately to the ascertainment of such value ior the pro erties involved in a proposed consolidation A umm for m_ uponzthe filing of the apphcatienfor such conso `dation. z · - X artifact. “ (c) Whenever two or more carriers propose a consolidation under this section, they shall present their application therefor to vrthe i Commission, and thereupon the Commission shall notify the Governor of each State in which any part of the properties sought to bacon- H M solidated IS situated andthe earners involved in the proposed ·conwm"' sohdation, of the time and place fora public hearing. If aftersuch Order Pumming gearing the Commission finds that  public interest will be promoted ccmcucaccc. y the comohdation and that the conditions of thm section have been or will be fuliilled, it maycnter an order approving and authorizing such consolidation, withsuch modifications and u on such terms and conditions as it may P!$1'lb0;·8Dd therepgon such consolidation mm laws M mt may be effected, ui accordance with such o er if all the carriers c,,,,,,,,,,,,_ ’ " mvolved msent thereto, the law of any State or the. decision or order mmm Rum of any State authority to=tho_contrary notwithstanding. E www uy. Y ·?‘—(7)_ The power and autlumtyof the Commission to approve and °°§;g¤gg'¤i*¥1·§g*_m_gf authorize the consolidatiomof two or more carriers shall extend and oicmca. apply to the consolidation of fom- express companiesinto the American Railway Express Company, a Delaware corporation, if application for sued apparfotggltplnd authority tilsds made tg the Cgmmissipn thirty ays e eo amena ct;an pen' the decision of the 1 such consoggtion shall not be dissolved. · a$.£‘}h°§.$$a°°ifS§ii§lSZ " (8) The <>81'lj¤erS affected by any order made under the forggoing ,8, _·5,0{ ‘ · ‘ conso a on approve an au oriz in suc or er s e an vIi;1.as,p.*m. they are hereby, relieved from the operation of the ‘antitrust l’aws,’ as_dte:1;;n&ted in sectéoplé egfgie Amit entitled &An Act tcilsupplegupit exis ws agams a res ramts an mono 'es an or other purposes} apparoved October 15, 1914, and of all Ether restraints or prohibitions by w, State or [federal, in so far as may be necessméy to egable ciihem tg do anyt;imgtail1:’tl;orized or required by any or er ma e un er an pursuan to oregoing provisions o this section." ,,_§;*}¤"’P" ““‘°‘ Sec. 408. The £aragraph of section 5 of the Interstate Commerce vci. ii, p. icc. pct, addepdfto spl section by sectppn 11 of the Act entitled “An Act o provide or e ope, mam ance, rotection, ando ration of the Panama Canal anldutge sanitation ang government ofpghe Canal §one;;’ aptp\roved_ August 24, 1912, is hereby amended by inserting O that pmgmphs (9) at e begmmng thereof. ¤¤mc.,..,d,eic. The two paragraphs of section 11 of such Act of August 24, 1912, va sv, p. wv. which follow the paragraph added by such section to section 5 of the Interstate Commerce ct, are hereby made a part of section 5 of the Interstate Commerce Act. The first paragraph so made a art of section 5 of the Interstate Commerce Act is hereby amended b inserting "_(10) " at the beginning thereof, and the second such plpragrpph is hereby 81118DdB by Inserting “ (11) " at the beginning ereo.
 * -:;*2;*; im Vol of this secthon aged aélnhy cogoratxonhoggnimdlsuo to act 3