The Validity of Rate Regulations, State And Federal

Cover The Validity of Rate Regulations, State And Federal
The Validity of Rate Regulations, State And Federal
Robert P Robert Patterson Reeder
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418, 434, 42 L. Ed. 819.
83 But see Minnesota Rate Cases — Simpson v. Shepard (1913) 230 U. S. 352, 434, 435, 33 Sup. Ct. 729, 754, 755, 57 L. Ed. 1511, where it is quoted with approval.
84 Whitten, Valuation of Public Service Corporations, p. 39.
85 The language of Harlan, J. , in this opinion seems to echo the Ian- VALUE OF PROPERTY. 299 But the later cases show more clearly than does Smyth V. Ames that in finding the value of the property the es- sential question is as to its present value,
...and a considera- tion of the factors mentioned in Smyth v. Ames does not furnish a satisfactory method of finding the present value.
Even assuming that "the original cost of construction" and 'Hhe amount expended in permanent improvements" could be determined accurately, and in most cases they could not be so determined, ^^ and even assuming that it were proved that every such expenditure had been made honestly and economically, the amounts so found would not necessarily be considered by the court.^" In Smyth v.


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