Illinois Terminal Co. v. United States

LITTLETON, Judge.

The plaintiff is a railroad corporation which was under federal control from January 1,1918, to February 29,1926. It did not enter into a so-called “standard agreement” with the Railroad Administration for the federal control period. Final settlement with the United States Railroad Administration was effected September 21, 1922, resulting, in the payment to plaintiff of a balance of $50,-606. In this final settlement compensation for the use of plaintiff’s properties for the period of federal control was determined at the rate of $356,006 a year. The Interstate Commerce…