Railroad Valuations. Hearings ... on H.R. 6043 ... Nov. 15, 16, 21; Dec. 13, 14, 15, 16, 1921. Wash |
Common terms and phrases
acquired acquisition of lands acre acreage value adjacent lands adjoining lands aggregate value amendment ascer ascertain the cost basis BENTON bill BRANTLEY BURROUGHS capital carrier cent CHAIRMAN Class I railroads committee common carrier condemnation and damages Congress consideration considered Constitution cost of acquisition cost of condemnation cost of reproduction decision determined easement entitled estimate evidence excess cost excess of present fact fair return fee simple figure final value fixed GRAHAM hearing HOCH HUDDLESTON included interstate commerce act Interstate Commerce Commission investment judgment judicial Kansas City Southern legislation MAPES market value matter mile Minnesota Rate NEWTON opinion original cost ownership PLUMB present cost proceedings proper question railroad company railroad property Railway reasonable rate referred reproduction cost road rule SANDERS Senate Southern Railway statement statute Supreme Court SWEET tentative valuations thing tion track valuation act value of lands
Popular passages
Page 64 - 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...
Page 121 - 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 28 - ... so that carriers as a whole (or as a whole in each of such rate groups or territories as the Commission may from time to time designate) will, under honest, efficient and economical management and reasonable expenditures for maintenance of way, structures and equipment, earn an aggregate annual net railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of the railway property of such carriers held for and used in the service of transportation...
Page 91 - ... the making of a just return for the use of the property involves the recognition of its fair value if it be more than its cost. The property is held in private ownership and it is that property, and not the original cost of it, of which the owner may not be deprived without due process of law.
Page 63 - The cost of reproduction method is of service in ascertaining the present value of the plant, when it is reasonably applied and when the cost of reproducing the property may be ascertained with a proper degree of certainty. But it does not justify the acceptance of results which depend upon mere conjecture.
Page 48 - 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 73 - If a corporation cannot maintain such a highway and earn dividends for stockholders, It Is a misfortune for It and them which the constitution does not require to be remedied by Imposing unjust burdens upon the public.
Page 26 - Second. Such investigation and report shall state in detail and separately from improvements the original cost of all lands, rights of way, and terminals owned or used for the purposes of a common carrier, and ascertained as of the time of dedication to public use, and the present value of the same...
Page 9 - Assuming that the company is entitled to a reasonable share in the general prosperity of the communities which it serves, and thus to attribute to its property an increase in value, still the increase so allowed, apart from any improvements it may make, cannot properly extend beyond the fair average of the normal market value of land in the vicinity having a similar character. Otherwise we enter the realm of mere conjecture.
Page 7 - ... ascertained as of the time of dedication to public use, and the present value of the same, and separately the original and present cost of condemnation and damages or of purchase in excess of such original cost or present value.