Herbert Hoover actually said...

"As shown by the Interstate Commerce Commission, excluding those roads already in receivership, the number of railways earning less than fixed charges is only about 16 percent or 17 percent of the whol..."

"I, of course, regard the enactment of the authority to create this corporation as a most urgent matter."

"It will be remembered that the carriers have now organized the Railway Credit Corporation on the plan provided between them and the Interstate Commerce Commission for assisting railways with deficient..."

"In consequence of the fall in prices of railway bonds, I have a number of telegrams from different parts of the country and inquiries from the press as to the status of the various agencies which are ..."