Part of the record of the first recapture case to come before the Interstate Commerce Commission. Section 15a of the Interstate Commerce Act provided (as of 1926) that one-half of the excess of over 6 percent of the net income of railroads must be paid to the Commission, to be kept in a contingent fund. The six percent was to be determined with reference to the value of the property. These cases disputed the means of this determination.
Part of the record of the first recapture case to come before the Interstate Commerce Commission. Section 15a of the Interstate Commerce Act provided (as of 1926) that one-half of the excess of over 6 percent of the net income of railroads must be paid to the Commission, to be kept in a contingent fund. The six percent was to be determined with reference to the value of the property. These cases disputed the means of this determination.