Chapter 20. To amend section 407 of the Transportation Act of 1920
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CHAP. 20.— An Act To amend section 407 of the Transportation Act of 1920. June 10, 1921.[[H. R. 6567](/us/bill/67/hr/6567).][[Public, No. 15](/us/pl/67/15).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That section 407 of theTransportation Act. 1920.Vol. 41, p. 482, amended. Transportation Act of 1920 be, and it is hereby, amended by adding thereto a new paragraph designated as paragraph (9), as follows: " “(9) Upon application of one or more telephone companies forTelephone companies permitted to consolidate, etc. authority to consolidate their properties or a part thereof into a single company, or for authority for one or more such companies to acquire the whole or any part of the property of another telephone company or other telephone companies or the control thereof by the purchase of securities or by lease or in any other like manner, when such consolidated company would be subject to this Act, the commission shall fix a time and place for a public hearing upon suchPublic hearing of applications. application and shall thereupon give reasonable notice in writing to the governor of each of the States in which the physical property affected, or any part thereof, is situated, and to the State public service commission or other regulatory body, if any, having jurisdiction over telephone companies, and to such other persons as it may deem advisable.
After such public hearing, if the commissionCertificate authorizing. finds that the proposed consolidation, acquisition, or control will be of advantage to the persons to whom service is to be rendered and in the public interest, it shall certify to that effect; and thereupon any Act or Acts of Congress making the proposed transaction un-28State powers not restricted.lawful shall not apply. Nothing in this paragraph contained shall be construed as in any wise limiting or restricting the powers of the several States as now existing to control and regulate telephone companies.
” " Approved, June 10, 1921.