...freight rates and charges herein determined will enable the carriers in tho respective rate groups, under honest, efficient, and economical management...for maintenance of way, structures, and equipment, to earn an aggregate annual net railway operating income equal, as nearly as may be, to a return of...

...and used in the service of transportation, notwithstanding that they have been and are now operated under honest, efficient, and economical management...for maintenance of way, structures, and equipment; that their earnings have been and are such that it is impossible for them to maintain the adequate...

...excess cost was an unreasonable expenditure for maintenance of equipment and not in the interest of efficient and economical management and reasonable...for maintenance of way, structures, and equipment as required by section 15a of the act. Carriers' reports to commission, 107 IOC 741. 478. Statement...

...adjust rates so that carriers as a whole (or as a whole in each of such rate groups or territories as we may from time to time designate) will, under honest,...aggregate annual net railway operating income equal as nearly as may be to a fair return upon the aggregate value of the railway property of such carriers...

...fair return, the commission shall endeavor to adjust the general level of rates so that oper¿ ating carriers as a whole (or as a whole In each of such...commission may from time to time designate) will under normal conditions and under honest, efficient, and economical management and reasonable expenditures...

...exercising our powers under that section we shall “initiate, modify, establish, or adjust” rates for the carriers as a whole, “or as a whole in each of such...the Commission may from time to time designate.” We accordingly assigned for oral argument on March 22, 1920, the question, among others, “whether...

...adjust reasonable rates so that the carriers of the country, as a whole or by groups, will, tinder honest, efficient, and economical management and reasonable...aggregate annual net railway operating income equal, as nearly as may he. to a fair return upon the aggregate value of their railway property held for and...

...the carriers as a whole, or as a whole in each of the rate groups or territories designated by us, will, under honest, efficient, and economical management...equipment, earn an aggregate annual net railway operating revenue equal, as nearly as may be, to 5-| per cent on the aggregate value of their property held for...

...and used in the service of transportation, notwithstanding that they have been and are now operated under honest, efficient, and economical management...for maintenance of way, structures, and equipment; (2) that their earnings are such that it is impossible for them to maintain the adequate transportation...

...these reductions, approximating 10 per cent, would enable the carriers in the respective rate groups, under honest, efficient, and economical management...for maintenance of way, structures, and equipment, to earn an aggregate annual net railway operating income equal, as nearly as may be, to a return of...