[442] A list of these on the Louisville and Nashville R. R. is given in U. S. Senate (Elkins) Committee, 1905, Digest, App. III, pp. 84-93. There is a distinction between a basing and a common point. The latter is a competitive junction, to which rates are made on combination of locals. The basing point enjoys a still further advantage in that it gets even lower than the combination rates.
[444] Senate (Elkins) Committee Hearings, Digest, App. III, pp. 73 and 78.
[445] Cf. chap. IV, p. [125], supra. Also I.C.C. Opinion, No. 861, 1906.
[446] H. R. Meyer's, Government Regulation of Railroad Rates, pp. 196 and 292-303.
[447] Page [310], chap. IX, supra.
[448] Senate (Elkins) Committee, 1905, p. 65: 80 per cent. of net earnings on the Louisville & Nashville in 1886 were from local business.
[449] Cf. pp. [386], [591], [612] and [642], infra, for example.
[450] 24 I.C.C. Rep., 228, for Bowling Green, Ky., clearly establishes such a community of interest between rail and water lines.