Interstate Commerce Commission Reports: Decisions of the Interstate Commerce Commission of the United States

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U.S. Government Printing Office, 1931

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Page 363 - The return should be reasonably sufficient to assure confidence in the financial soundness of the utility and should be adequate, under efficient and economical management, to maintain and support its credit and enable it to raise the money necessary for the proper discharge of its public duties.
Page 360 - And, in order to ascertain that value, the original cost of construction, the amount expended in permanent improvements, the amount and market value of its bonds and stock, the present as compared with the original cost of construction, the probable earning capacity of the property under particular rates prescribed by statute, and the sum required to meet operating expenses, are all matters for consideration, and are to be given such weight as may be just and right in each case. We do not say that...
Page 363 - What the company is entitled to ask is a fair return upon the value of that which it employs for the public convenience. On the other hand, what the public is entitled to demand is that no more be exacted from it for the use of a public highway than the services rendered by it are reasonably worth.
Page 362 - But the value of property results from the use to which it is put and varies with the profitableness of that use. present and prospective, actual and anticipated.
Page 189 - Commission and to the general public by not less than 30 days' filing and posting in the manner prescribed in Section 6 of the Interstate Commerce Act...
Page 371 - That there is an element of value in an assembled and established plant, doing business and earning money, over one not thus advanced, is self-eviden.t. This element of value is a property right, and should be considered in determining the value of the property, upon which the owner has a right to make a fair return when the same is privately owned although dedicated to public use.
Page 346 - We hold, however, that the basis of all calculations as to the reasonableness of rates to be charged by a corporation . . . must be the fair value of the property being used by it for the convenience of the public.
Page 312 - ... when taken out of service, shall be considered as retired and accounted for as provided...
Page 312 - ... an addition and the appraised cost thereof shall be included in the account appropriate for the cost of the equipment.
Page 313 - ... the present as compared with the original cost of construction." In later cases, the latter was interpreted to mean the cost of reproducing an identical plant.33 Thus, the so-called "fair value" rule required that both original cost and reproduction cost be considered, but did not indicate the relative weight to be accorded each, which meant that the final valuation...

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