Railroad Revenues and Expenses; Hearings Before the Committee on Interstate Commerce, United States Senate, Sixty-Seventh Congress, First[-Second] Session, Pursuant to Senate Resolution 23 Directing the Committee on Interstate Volume 2-3
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) ... Show synopsis This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ...was proper to charge it as a part of the operating cost for the year under consideration. I may say, as regards the Interstate Commerce Commission, Mr. Chairman and gentlemen, under the accounting rules of the Interstate Commerce Commission, they could not possibly be an operating expense, and if the railroads observed the accounting instructions of the Interstate Commerce Commission, fines for rebates and discriminations should never be entered as an operating expense. The Chariman. That is the reason I asked whether all those fines that you have mentioned as being assessed for violation of the law had been charged in as a part of the operating expenses of the several railroads which were guilty of the offenses. Mr. Warne. I think, Mr. Chairman, it would take a special investigation to find that out. If they observed strictly the instructions of the Interstate Commerce Commission, they can not be and should not he charged as operating expenses. The Chairman. And have you any information with regard to the amount which the railroad companies lost on account of those discriminations--lost in revenue? Mr. Warne. No; 1 attempted to find that out, -but it is an impossibility. It requires such an enormous amount of calculations as to tonnage and the distances and the rate, and all that sort of thing, I had to give it up. I think if the committee is desirous of that information, the Interstate Commerce Commission could supply it. The Chairman. From your examination, were any of those fines paid on account of overcharges--overcollections? Mr. Warne. I read a summary of the charges that were involved, and I believe The Chairman (interposing). Under the law, that would be just as serious an offense as a rebate. All these reparation claims that have..