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accrued depreciation actual cost actual investment allowance applied basis capital charges Chicago Comm Commission compensation competition condemnation considered construction consumer corporation cost of production cost of service decision demnation depreciation reserve determine due process due-process clause earnings economic elements of value eminent domain engineering erty estimate exchange value expenditures fair return fair value final valuation fixed Fourteenth Amendment franchise fund going value Grafton County included industrial inventory judicial laissez-faire land legislative legislature limitation market value ment method Minnesota Rate monopolistic monopoly Munn operating expenses original cost original-cost Pine Lawn plant police power present value private property produce profit public interest public service public utility public welfare question Railroad Railway rate of return rate regulation rate valuation rate-making purposes regulatory reproduction cost reproduction-cost appraisal San Diego Sandpoint securities Spring Valley Stanislaus County Supreme Court theory tion valuation theory value for rate-making
Page 110 - 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...
Page 11 - Property does become clothed with a public interest when used in a manner to make it of public consequence and affect the community at large. When, therefore, one devotes his property to a use in which the public has an interest, he, in effect, grants to the public an interest in that use, and must submit to be controlled by the public for the common good, to the extent of the interest he has thus created. He may withdraw his grant by discontinuing the use; but, so long as he maintains the use, he...
Page 53 - The question of the reasonableness of a rate of charge for transportation by a railroad company, involving, as it does, the element of reasonableness both as regards the company and as regards the public, is eminently a question for judicial investigation requiring due process of law for its determination.
Page 203 - Before coming to the question of profit at all the company is entitled to earn a sufficient sum annually to provide not only for current repairs but for making good the depreciation and replacing the parts of the property when they come to the end of their life. The company is not bound to see its property gradually waste, without making provision out of earnings for its replacement. It is entitled to see that from earnings the value of the property invested is kept unimpaired, so that at the end...
Page 72 - What the company is entitled to demand, in order that it may have just compensation, is a fair return upon the reasonable value of the property at the time it is being used for the public.
Page 46 - It is insisted, however, that the owner of property is entitled to a reasonable compensation for its use, even though it be clothed with a public interest, and that what is reasonable is a judicial and not a legislative question.
Page 145 - ... and we concur with the court below in holding that the value of the property is to be determined as of the time when the inquiry is made regarding the rates. If the property which legally enters into the consideration of the question of rates has increased in value since it was acquired, the company is entitled to the benefit of such increase.
Page 46 - A person has no property, no vested interest, in any rule of the common law. That is only one of .the forms of municipal law, and is no more sacred than any other. Rights of property which have been created by the common law cannot be taken away without due process; but the law itself, as a rule of conduct, may be changed at the will, or even at the whim, of the legislature, unless prevented by constitutional limitations. Indeed the great office of statutes is to remedy defects in the common law...
Page 203 - It is entitled to see that from earnings the value of the property invested is kept unimpaired, so that at the end of any given term of years the original investment remains as it was at the beginning. It is not only the right of the company to make such a provision, but it is its duty to its bond and stockholders, and, in the case of a public service corporation at least, its plain duty to the public.