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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 ]
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.
The Hepburn Act, which gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates, became law in July 1906. [11] This depreciated the value of railroad securities. [12] Between September 1906 and March 1907, the stock market slid, losing 7.7% of its capitalization. [13] Between March 9 and 26, stocks fell a further 9. ...
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]
However, given the restrictive nature of state corporation laws, many companies preferred to seek a special legislative act for incorporation to attain privileges or monopolies, even until the late nineteenth century. In 1819, the U.S. Supreme Court granted corporations rights they had not previously recognized in Trustees of Dartmouth College v.
After the U.S. declared war, La Follette denounced many of the administration's wartime policies, including the Selective Service Act of 1917 and the Espionage Act of 1917. [96] This earned the ire of many Americans, who believed that La Follette was a traitor to his country, effectively supporting Germany. [97]
By the time she was 16 years old, Hepburn weighed only 88 points at 5-foot-6. Because she was extremely underweight, the star suffered many illnesses and unhealthy side effects. Dotti writes:
The Mann–Elkins Act, also called the Railway Rate Act of 1910, was a United States federal law that strengthened the authority of the Interstate Commerce Commission (ICC) over railroad rates. The law also expanded the ICC's jurisdiction to include regulation of telephone , telegraph and wireless companies, and created a commerce court.