University of Illinois Studies in the Social Sciences, Volume 14University of Illinois, 1927 |
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accounts American amount Annual Report bill boats British Calumet Canada Canadian Archives canal carried cent Chicago River Chief of Engineers coke commissioners committee Company considerable construction cost depreciation Detroit district established expenses facilities Federal Barge Line feet franchise freight fur trade Governor grain Haldimand handling Hobhouse home rule Ibid Illinois coal Illinois Commerce Commission Illinois Commission Illinois country Illinois River Illinois Waterway important increase Indian country industry interest Interstate Commerce Commission Lake Michigan Louis lumber merchants method Michigan Pioneer Michillimackinac miles Mississippi Montreal municipal navigation North-West Company Northwest operation posts Public Service Public Utilities Act Public Utilities Commission rail railroads Railway rates reason region regulation of public relations Report of Chief Section secure shipped Springfield Supreme Court Telephone terminal theory of knowledge tion tons traffic treaty United upper country Valuation water transportation York
Popular passages
Page 78 - 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 78 - 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.
Page 82 - 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. 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...
Page 90 - 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 132 - No law shall be passed by the General Assembly, granting the right to construct and operate a Street Railroad within any city, town, or incorporated village, without requiring the consent of the local authorities having the control of the street or highway proposed to be occupied by such street Railroad.
Page 91 - It is impossible to ascertain what will amount to a fair return upon properties devoted to public service without giving consideration to the cost of labor, supplies, etc., at the time the investigation is made. An honest and intelligent forecast of probable future values made upon a view of all the relevant circumstances, is essential. If the highly important element of present costs is wholly disregarded such a forecast becomes impossible. Estimates for tomorrow cannot ignore prices of today.
Page 79 - The commission shall have power to ascertain the value of the property of every public utility in this state and every fact which in its judgment may or does have any bearing on such value.
Page 10 - In their exercise it has been customary in England from time immemorial and in this country from its first colonization, to regulate ferries, common carriers, hackmen, bakers, millers, wharfingers, innkeepers, &c., and in so doing to fix a maximum of charge to be made for services rendered, accommodations furnished, and articles sold.
Page 107 - There is no particular rate of compensation which must in all cases and in all parts of the country be regarded as sufficient for capital invested in business enterprises. Such compensation must depend greatly upon circumstances and locality; among other things, the amount of risk in the business is a most important factor, as well as the locality where the business is conducted and the rate expected and usually realized there upon investments of a somewhat similar nature...
Page 71 - No law shall be passed by the General Assembly granting the right to construct and operate a street railroad within any city, town, village, or on any public highway, without first acquiring the consent of the local authorities having control of the street or highway proposed to be occupied by such street railroad; and the franchises so granted shall not be transferred without similar assent first obtained.