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The Hepburn Act is a 1906 United States federal law that expanded the jurisdiction of the Interstate Commerce Commission (ICC) and gave it the power to set maximum railroad rates. This led to the discontinuation of free passes to loyal shippers. [ 1 ]
Railroad historians mark the 1906 Hepburn Act that gave the ICC the power to set maximum railroad rates as a damaging blow to the long-term profitability and growth of railroads. [168] After 1910 the lines faced an emerging trucking industry to compete with for freight, and automobiles and buses to compete for passenger service. [77]: 348–64
The Esch-Cummins Act maintained and expanded a complete railroad regulatory system after the war. During the 1920s the railroads, with rates and routes set by the ICC, were facing increasing competition from other modes of transportation: trucking and airplanes. These competing modes were basically unregulated at the time, and received ...
The main role of the Bureau was to study and report on industry, looking especially for monopolistic practices. Its 1906 report on petroleum transportation made recommendations that became part of the Hepburn Act of 1906, and was used when the Justice Department successfully prosecuted and broke up Standard Oil in 1911.
Congress passed a minor amendment to the Act in 1903, the Elkins Act. [11] Major amendments were enacted in 1906 and 1910. The Hepburn Act of 1906 authorized the ICC to set maximum railroad rates, and extended the agency's authority to cover bridges, terminals, ferries, sleeping cars, express companies and oil pipelines. [12]
The Elkins Act is a 1903 United States federal law that amended the Interstate Commerce Act of 1887. The Act authorized the Interstate Commerce Commission (ICC) to impose heavy fines on railroads that offered rebates, and upon the shippers that accepted these rebates. The railroad companies were not permitted to offer rebates.
Hepburn was born in Wellsville, Ohio and raised from the age of seven in Iowa City, Iowa.His schooling was limited to a few months in an Iowa City academy. [3] The great-grandson of Revolutionary War officer, printer, and congressman Matthew Lyon, and the great-great-grandson of Thomas Chittenden, the first Governor of Vermont, he was first engaged as an apprentice printer, before studying law.
The Heavy Press Program was a Cold War-era program of the United States Air Force to build the largest forging presses and extrusion presses in the world. These machines greatly enhanced the US defense industry's capacity to forge large complex components out of light alloys, such as magnesium and aluminum.