Page:United States Statutes at Large Volume 48 Part 1.djvu/1100

 1074 73d CONGRESS. SESS. II. CH. 652 . JUNE 19, 1934. Other contracts of (b) The Commission shall have authority to require the filing of carrier. any other contracts of any carrier, and shall also have authority to exempt any carrier from submitting copies of such minor contracts as the Commission may determine. Interlocking directo- I NTER LOCK ING DIRE CTOR ATES --OF FICI ALS DEAL ING IN S ECUR ITIE S rates. Unlawful, unless Commission author- ize s. Unlawful dealing in securities by officials. SEC. 212. After sixty days from the enactment of this Act it shall be unlawful for any person to hold the position of officer or director of more than one carrier subject to this Act, unless such holding shall have been authorized by order of the Commission, upon due showing in form and manner prescribed by the Commis- sion, that neither public nor private interests will be adversely affected thereby. After this section takes effect it shall be unlawful for any officer or director of any such carrier to receive for his own benefit, directly or indirectly, any money or thing of value in respect of negotiation, hypothecation, or sale of any securities issued or to be issued by such carrier, or to share in any of the proceeds thereof, or to participate in the making or paying of any dividends of such carrier from any funds properly included in capital account. Carrier property. VALUA TION OF CARR IER PROPERTY Valuation of, by SEC. 213 . (a) The Commission may from time to time, as may Commission. be necessary for the proper administration of this Act, and after opportunity for hearing, make a valuation of all or of any part of the property owned or used by any carrier subject to this Act, as of such date as the Commission may fix. Inventories. (b) The Commission may at any time require any such carrier to file with the Commissi on an invento ry of all or o f any part of the property owned or use d by said car rier, which in ventory shall Information to con- show the units of said property classified in such detail, and in such tai n. manner, as the Commission shall direct, and shall show the esti- mated cost of reproduction new of said units, and their reproduction cost new les s depreciatio n, as of such date as the C ommission may direct ; and such carrier shall file such inventory within such reason- able time as the Commission by order shall require. State ment of o rigin al (c) The Commission may at any time require any such carrier Cost. to file with the Commissi on a statemen t showing the original cost at the time of dedication to the public use of all or of any part of the property owned or used by said carrier. For the showing of of property. Classification such original cost said property shall be classified, and the original cost shall be defined, in such manner as the Commission may pre- Report when original scribe ; and if any part of such cost cannot be determined from cost cannot be deter- mined. acc oun tin g accounting o r other recor ds the portio n of the prope rty for which such cost cannot be determined shall be reported to the Commis- Est ima tes . sion ; and, if the Commission shall so direct, the original cost thereof shall be estimated in such manner as the Commission may prescribe. chaseprice wea n pu r- If the carri er owning the property at the time such original cost th an , ori gin al cost. is reported shall have paid more or less than the original cost to acquire the same, the amount of such cost of acquisition, and any facts which the Commission may require in connection therewith, shall be reported with such original cost. The report made by a sources of original carrier under this paragraph shall show the source or sources from cost report to be shown. which the original cost reported was obtained, and such other infor- mation as to the manner in which the report was prepared, as the Commission s hall require. Exp ense of obta ining (d) Nothing shall be included in the original cost reported for franment, li franckaise. cense, or the property of any carrier under paragraph (c) of this section on account of any easement, license, or franchise granted by the United