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Full-Text Articles in Law
Public Utility Valuation - Going-Concern Value In Rate Making, Edwin C. Goddard
Public Utility Valuation - Going-Concern Value In Rate Making, Edwin C. Goddard
Articles
What is the effect of a city ordinance which proposes to a public utility company the terms on which it may dispose of its product to the users, but which is rejected by the company? As to a company not yet doing business it is clear that the ordinance when rejected becomes a mere legal nullity. It never was more than an offer that might ripen into a binding contract by acceptance. That it is by no means a nullity as to a utility actually operating in the city after the expiration of its franchise and as a mere tenant …
Public Utility Valuation, Edwin C. Goddard
Public Utility Valuation, Edwin C. Goddard
Articles
EVERY consideration of valuation of a public utility, whether for the purpose of condemnation for purchase or as a basis for fixing rates or permitting the issue of stock or bonds, must start from Sinyth v. Ames, and the rule therein laid down by HARLAN, J., at page 546: "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 …
The Passing Of State Control Over Railway Rates, Edson R. Sunderland
The Passing Of State Control Over Railway Rates, Edson R. Sunderland
Articles
Congress has exclusive power to regulate interstate commerce, so far as it admits of a uniform system of regulation, and a failure on its part to regulate in a given case is tantamount to a declaration that such commerce shall remain free and unrestricted. Brown v. Houston, 114 U. S. 622; Leisy v. Hardin, 135 U. S. 100. The states are, in all such cases, without jurisdiction to regulate, irrespective of what Congress has or has not done.
State Regulations Affecting Interstate Commerce, Horace Lafayette Wilgus
State Regulations Affecting Interstate Commerce, Horace Lafayette Wilgus
Articles
The line between regulations of intrastate and interstate commerce is difficult to draw and hard to maintain. This is well illustrated in the recent case of St. Louis Southwestern Railway Company v. Arkansas, decided by the Supreme Court of the United States April 4, 1910, Advance Sheets, May I, 1910, p. 476, 30 Sup.Ct. 476.
Need Of A National Incorporation Law, Horace Lafayette Wilgus
Need Of A National Incorporation Law, Horace Lafayette Wilgus
Articles
When the report of the Committee on Uniformity of legislation was submitted to the last American Bar Association, and consideration of the legal problems growing out of modem commercial combinations, was urged as a matter proper for discussion and action by that association, it was gravely argued by distinguished lawyers present that there was no legal problem to be solved. The Committee on Commercial Law, however, thought otherwise and said:- "The American people look to the American Bar for leadership on this question. Some one must lead. If not the lawyer, then it will be the demagogue."
The Northern Securities Decision, Horace Lafayette Wilgus
The Northern Securities Decision, Horace Lafayette Wilgus
Articles
March 14 the Supreme Court of the United States decided one of the most important cases that has been before it for a number of years. The litigation referred to is the Northern Securities case. The question involved was whether the control of the Great Northern and Northern Pacific railway companies through the ownership of the majority of the stock of each of those companies by the Securities company violated the national anti-trust act. The majority of the Supreme Court held it did, but four of the judges dissented.
Northwestern Railway Situation, Horace Lafayette Wilgus
Northwestern Railway Situation, Horace Lafayette Wilgus
Articles
What promises to be the most important corporate litigation that has or is likely to come before the Supreme Court for many years is involved in the various suits against the Northern Securities Company. To understand its full significance, it is desirable to recall something of the railroad history of the western states.
Northwestern Railway Situation, Horace Lafayette Wilgus
Northwestern Railway Situation, Horace Lafayette Wilgus
Articles
What promises to be the most important corporate litigation that has or is likely to come before the Supreme Court for many years is involved in the various suits against the Northern Securities Company. To understand its full significance, it is desirable to recall something of the railroad history of the western states.
State Regulation Of Corporate Profits, Thomas M. Cooley
State Regulation Of Corporate Profits, Thomas M. Cooley
Articles
At the time when the Federal Constitution was adopted, municipal government in America was a very simple affair, and was managed with ease and economy through local officers, who provided for the making and repairing of roads, looked after disorderly characters, abated local nuisances, and levied rates for the few and simple public needs. When the growing population of a particular locality appeared to need larger powers of local government, the legislature granted them, but they often involved little more than the holding of fairs as a means of building up local trade, the institution of a local court for …