Illinois Terminal Railroad Company v. United States of America and Interstate Commerce Commission

LAY, Circuit Judge.

This is a petition for review of an Interstate Commerce Commission (ICC) order brought by the Illinois Terminal Railroad Company. It challenges an order of the ICC requiring specific use of “incentive per diem” (IPD) funds received by petitioner from other railroads as rental for its boxcars. In 1966 Congress authorized the ICC to establish incentive per diem rates to be charged on certain railroad car rentals. See 49 U.S.C. § l(14)(a) (1966). The legislation arose from the long history of a national boxcar shortage. Since under the prior rate-setting system it was often…