Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 174667931X

URN:: urn:nbn:de:zbw-retromon-119897

Document type:: Monograph

Author:: Grunsky, Carl Ewald http://d-nb.info/gnd/10180959X

Title:: Valuation, depreciation and the rate base

Edition:: 2. ed., revised and extended

Place of publication:: New York

Publisher:: Wiley

Year of publication:: 1927

Scope:: X, 500 Seiten

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. The fixing of rates

Collection:: Economics Books

148 VALUATION, DEPRECIATION AND THE RATE-BASE duties and powers of a public service commission. Georgia, Ore- gon, Nebraska, Oklahoma, Maryland, Colorado, Florida, Illinois, Indiana, Iowa, Maine, Missouri, Pennsylvania, Rhode Island, South Carolina, Vermont and other states started off with a railroad commission. Arizona, Kansas, Nevada, New Jersey, New Hampshire and Oklahoma have their public service com- missions more or less liberally endowed with powers of regula- tion and control. Supreme Court of Wisconsin on the Powers of the Railroad Commission. — All the powers which a public service commis- sion has are conferred upon it directly by the people or by legislative enactment. Its function is to make administrative regulations. Its powers are not legislative. On this point the Supreme Court of Wisconsin says (Minn. St. Paul and Sault Ste Marie Ry. Co. vs. Railroad Com. of Wis., 136 Wis. 146): “ The division of the governmental powers into executive, legislative and judicial, while of great importance in the creation or organization of a State, and form the viewpoint of institu- tional law and otherwise, is not an exact classification. No such exact delimitation of governmental powers is possible. In the process of enacting a law there is frequently necessary the pre- liminary determination of a fact or a group of facts by the Legislature, and it is well settled that the Legislature may de- clare the general rule of law to be in force and take effect upon the subsequent establishment of the facts necessary to make it operative or to call for its application. . . . The Legislature may delegate any power, not legislative, which it may itself rightfully exercise. This power to ascertain facts is such a power as may be delegated. . . . This law established, and thenceforth assumes the existence of rates, charges, classifica- tions and services, discoverable by investigation but undisclosed, which are exactly reasonable and just. It commits to the Rail- road Commission the duty to ascertain and disclose that par- ticular rate, charge, classification or service. The law intends that there is only one rate charge or service that is reasonable and just. When the order of the Commission is set aside by the Court, it is because this reasonable and just rate, charge, classifi- cation or service has not yet been correctly ascertained. When the order of the Commission has been rescinded or changed by

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