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Full-Text Articles in Law

Administrative Law-Rate-Making-Authority Of Fpc To Limit Rate Of Return On Tax Reserves Resulting From Liberalized Depreciation, Harry T. Edwards Apr 1964

Administrative Law-Rate-Making-Authority Of Fpc To Limit Rate Of Return On Tax Reserves Resulting From Liberalized Depreciation, Harry T. Edwards

Michigan Law Review

Plaintiff, a natural gas pipeline company, filed a petition for review of a Federal Power Commission ruling in a rate proceeding under section 4(e) of the Natural Gas Act. Plaintiff argued that Congress did not intend tax deferrals arising from liberalized depreciation to be shared by producers and consumers and that, consequently, accumulated tax reserves should be included in the company's rate base at an ordinary rate of return. The FPC ruled that the petitioner could include its tax reserves in the rate base, but that the rate of return on the reserves would be limited to one and one-half …


Government Regulation Of Bank Mergers: The Revolving Door OfPhiladelphia Bank, Alexander E. Bennett Apr 1964

Government Regulation Of Bank Mergers: The Revolving Door OfPhiladelphia Bank, Alexander E. Bennett

Michigan Law Review

On November 15, 1960, the second and third largest Philadelphia banks, the Philadelphia National Bank-its assets 1.09 billion dollars, its deposits 603 million dollars-and the Girard Trust Com Exchange Bank-its assets 757 million dollars, its deposits 560 million dollars-applied to the Comptroller of the Currency for approval to merge. The application stated the intention of the Philadelphia National (PNB) to acquire the Girard, including all its assets, deposits, capital, and retained earnings, thereupon to disgorge stock in a resulting bank to Girard shareholders at a ratio of 1.2875 to 1. Both Girard and PNB had a history of merger and …


Rights Of Persons Compelled To Appear In Federal Agency Investigational Hearings, David C. Murchison Jan 1964

Rights Of Persons Compelled To Appear In Federal Agency Investigational Hearings, David C. Murchison

Michigan Law Review

By statutes designed to protect the public interest, many federal administrative agencies-such as the Interstate Commerce Commission, the Federal Communications Commission, the Securities and Exchange Commission, the Federal Trade Commission, and the Civil Aeronautics Board-are granted authority to conduct investigations dealing with substantive matters committed to their respective jurisdictions. In an increasing number of instances, these agencies are empowered to utilize compulsory process; persons may be ordered to appear and give testimony or to produce documents in so-called investigational hearings, subject to criminal sanctions for noncompliance. The use of investigational hearings by these agencies as an ancillary law enforcement tool …