...be, so that the railway carriers as a whole allocated to each district and subject to this Act sha-11 earn an aggregate annual net railway operating income equal, as nearly as may be, to 5^ per centum upon the aggregate value, as determined in accordance with the provisions hereof, of...

...whole in each of such rate groups or territories as the Commission may from timo to time designate) will, under honest, efficient and economical management...be, to a fair return upon the aggregate value of the rail26 F.(2 way property of such carriers held for and used in the service of transportation: Provided,...

...1920 directed the Interstate commission to impose such rates for freight as would earn net profits "equal, as nearly as may be, to a fair return upon the aggregate value of the railway ^_ property," it was at once ^ej^ew discovered that rates which Railway would give the stipulated...

...whole in each of such rate groups or territories as the Commission may from time to time designate) will, under honest, efficient and economical management...aggregate annual net railway operating income equal, us nearly as may be, to a fair return upon the aggregate value of the railway property of such carriers...

...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...

...efficient, and economical management and reasonable expenditure for maintenance, earn an aggregate net railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of railway property of such carriers held for and used in service of transportation. In view of these...

...established shall " under honest, efficient and economical management Hnd reasonable expeuditures • • • earn an aggregate annual net railway operating Income equal, as nearly as may be, to a fair return." • • « \vre mention this fact » • • in order to make clear that In our Judgment our authority...

...in any group which the cutsmission designates will "earn an aggregate annual net railway oj<rating income equal, as nearly as may be, to a fair return upon the aggregate value of the railway property of such carriers." But it wZ be noted that this direction is to be carried out in...

...in the aggregate under section 1 of the act and would enable the carriers in the respective groups, under honest, efficient, and economical management...for maintenance of way, structures, and equipment, to earn the aggregate annual railway operating income set as a mark by Congress. Of this they have...

...later types. Id. (461). The Act provides that the rate structure shall comprehend and be based upon "honest, efficient, and economical management and...for maintenance of way, structures, and equipment," and it certainly implies that the "fair return" for the use of the property shall be measured on that...