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the same rate of return upon the value of their re-
spective railway properties."The act to regulate commerce, of 1887, is further
amended as to procedure in effecting consolidation
by the addition of the following paragraphs of sec-
tion 5:"When the Commission has agreed upon a tenta-
tive plan it shall give the same due publicity and
upon reasonable notice, including notice to the Gov-
ernor of each State, shall hear all persons who may
file or present objections thereto. The Commission
is authorized to prescribe a procedure for such hear-
ings and to fix a time for bringing them to a close.
After the hearings are at an end the Commission
shall adopt a plan for such consolidation and pub-
lish the same; but it may at any time thereafter,
upon its own motion or upon application, reopen
the subject for such changes or modifications as in
its judgment will promote the public interest. The
consolidation herein provided for shall be in har-
mony with such plan."It shall be lawful for two or more carriers by
railroad, subject to this act, to consolidate their
properties or any part thereof, into one corporation
for the ownership, management, and operation of
the properties theretofore in separate ownership,
management, and operation, under the following
conditions:
a. The proposed consolidation must be in har-
mony with and in furtherance of the complete plan

-2-

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Publication Information: Book Title: Consolidation of Railroads. Contributors: Walter M. W. Splawn - author. Publisher: The Macmillan Company. Place of Publication: New York. Publication Year: 1925. Page Number: 2.
    
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