PULLMAN RATES LOWERED
Pullman Rates Lowered A SHORT time ago the press of the country recorded the cutting of another melon by the Pullman Car Company, a very luscious melon, but not an unusually large one, as compared...
...Typical of the reductions is the new rate ordered by the commission to be in effect between St...
...During a period of eleven years $51,000,-000 in special cash and stock dividends have been paid in addition to the regular annual dividends...
...20,000,-000 worth of stock, drawing dividends of eight per cent, per annum was divided among the stockholders...
...The commission found that the company was earning excessive profits by charging exorbitant rates and ordered substantial reductions in every case brought before it...
...This in addition to the distribution of a dividend of eight per cent...
...Decisions given out on the 10th by the Interstate Commerce Commission may seriously affect the size of future dividends...
...The stock of the company is worth two hundred dollars a share, though the par value is but $100...
...This decision marks the end of a hard fought case...
...Loftus and his attorney, James Manahan...
...The company has heretofore charged $14 for either berth but the commission has decided that $12 for the lower and $10 for the upper berth insures a fair return to the company...
...Nearly a year ago George S. Loftus of the Minnesota Shippers and Receivers Association entered complaint involving the Pullman rates, and the sweeping order of the Commission completely sustains Mr...
...By the decisions, the price charged for upper berths is hereafter to be only about three-fourths of that demanded for the lower ones...
...Pullman Rates Lowered A SHORT time ago the press of the country recorded the cutting of another melon by the Pullman Car Company, a very luscious melon, but not an unusually large one, as compared with other melons cut by the same company...
...Paul and Seattle...
...The Pullman Company will probably fight the decision, the contention being that the commission has jurisdiction only over transportation and not manufacturing companies, such as the Pullman company claims itself to be...
Vol. 2 • April 1910 • No. 16
