Reasonable Maximum Rates |
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9 I. C. C. Rep AMOUNT AND MARKET April 15 ascertained BONDS AND SHARES broadest character charges cial Commissioner Prouty common carriers Common Law complaint Conservative Trust Policy consideration cost of construction COST OF REPRODUCTION Cost of service December 27 determining dividends existing rates EXPENSES AND TAXATION Facts About Rail fair return fixed freight grade of security H. T. NEWCOMB I. C. C. Rep inquiry Interstate Commerce Commission investment judicial protection Justice Brewer lawful maxima legislative legislature MARKET VALUE ment mortgage bonds opinion original cost owners par value permanent improvements Philadelphia 1908 probable earning capacity proper Public Ownership railroad Railway Capitalization RAILWAY PROPERTY RAILWAY WORLD Witherspoon rate-fixing RATES By H. T. REASONABLE MAXIMUM RATES regulating require schedule of rates Section 13 services rendered shipper Smyth statute Supreme Court terest terms fair value tion traffic unjust unjustly valuation Western Railway Western Union World of December WORLD Witherspoon Building
Popular passages
Page 10 - 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 9 - We hold, however, that the basis of all calculations as to the reasonableness of rates to be charged by a corporation maintaining a highway under legislative sanction must be the fair value of the property being used by it for the convenience of the public.
Page 9 - 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 25 - Subject to the two leading prohibitions that their charges shall not be unjust or unreasonable, and that they shall not unjustly discriminate, so as to give undue preference or disadvantage to persons or traffic similarly circumstanced...
Page 19 - Under pretense of regulating fares and freights, the state cannot require a railroad corporation to carry persons or property without reward; neither can it do that which in law amounts to a taking of private property for public use without just compensation, or without due process of law.
Page 10 - It cannot therefore be admitted that a railroad corporation maintaining a highway under the authority of the State may fix its rates with a. view solely to its own interests and ignore the rights of the public. But the rights of the public would be ignored if rates for the transportation of persons or property on a railroad are exacted without reference to the fair value of the property used for the public, or the fair value of the services rendered, but in order simply that the corporation may meet...
Page 6 - There is no cast-iron line of uniformity which prevents a charge from being above or below a particular sum, or requires that the service shall be exactly along the same lines. But that principle of equality does forbid any difference in charge which is not based upon difference in service, and even when based upon difference of service, must have some reasonable relation to the amount of difference, and cannot be so great as to produce an unjust discrimination.
Page 15 - If a railroad corporation has bonded its property for an amount that exceeds its fair value, or if its capitalization is largely fictitious, it may not impose upon the public the burden of such increased rates as may be required for the purpose of realizing pro/its upon such excessive valuation or fictitious capitalization...
Page 25 - ... common carriers as they were at the common law, free to make special contracts looking to the increase of their business, to classify their traffic, to adjust and apportion their rates so as to meet the necessities of commerce, and generally to manage their important interests upon the same principles which are regarded as sound, and adopted in other trades and pursuits.
Page 8 - That any person, firm, corporation, or association, or any mercantile, agricultural, or manufacturing society, or any body politic or municipal organization complaining of anything done or omitted to be done by any common carrier subject to the provisions of this act in contravention of the provisions thereof, may apply to said Commission by petition, which shall briefly state the facts ; whereupon a statement of the...