Cases On Public Service Companies Public Carriers Public Works And Other Publ

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Cases On Public Service Companies Public Carriers Public Works And Other Publ
Joseph Henry Beale
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The courts should take notice of the general depression in business prevailing in 1894.
3. Where capital (including labor) invested in the production of an}' article or commodity is comparatively unremunerativc, yielding but a small return, a rate for the transportation of such article or com- modit}' may be reasonable, although, if the cai-rier was required to do all his business, at rates fixed on a corresponding basis, such rates would be unreasonable, to the extent of being confiscator}'. T
...his is but an enlarged application of a principle already suggested. It is a principle upon which railroads themselves act every day in fixing rates, recognizing as they do that rates are largely dependent upon compe- tition among producers or shippers. Of course, this proposition has its limitations, but it is unnecessarv to discuss them here. The courts, I think, should take notice of the small profit in raising grain in Min- nesota in and about 1894, owing to the comparatively low prices then prevailing.

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