[44] Quarterly Journal of Economics, V, 1891, pp. 438-465.
[45] Two important qualifications of this law, however, are set forth at p. [265], infra.
[46] Cf. our Railway Problems, rev. ed., circa pp. 684, 706.
[47] The first successful attempt, as to soft coal rates to the lakes, is in 22 I.C.C. Rep., 613. Cf. 13 Idem, 423.
[48] Wisconsin Railroad Commission Report, 1907, p. 101. Compare also Woodlock, p. 91; U. S. Statistics of Railways, 1894, p. 70; Yale Review, 1908, p. 382; and Record, Cincinnati Freight Bureau Case, II, p. 941.
[49] 13 I.C.C. Rep., 423. Compare 9 Idem, 423; and Yale Review, 1908, p. 287.
CHAPTER III
THE THEORY OF RAILROAD RATES (Cont'd)
The law of increasing returns, [71].—Applied to declining traffic, [73].—Illustrated by the panic of 1907, [75].—Peculiarly intensified on railroads, [76].