Interstate Commerce Commission Reports: Decisions of the Interstate Commerce Commission of the United States

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Side 271 - ... unless and until, and then only to the extent that, upon application by the carrier, and after investigation by the Commission of the purposes and uses of the proposed issue and the proceeds thereof, or of the proposed assumption of obligation or liability in respect of the securities of any other person, natural or artificial, the Commission by order authorizes such issue or assumption.
Side 604 - States. (9) The foregoing provisions of this section shall not apply to notes to be issued by the carrier maturing not more than two years after the date thereof and aggregating (together with all other then outstanding notes of a maturity of two years or less) not more than 5 per centum of the par value of the securities of the carrier then outstanding.
Side 269 - Commission shall make such order only if it finds that such issue or assumption: (a) is for some lawful object within its corporate purposes, and compatible with the public interest, which is necessary or appropriate for or consistent with the proper performance by the carrier of service to the public as a common carrier, and which will not impair its ability to perform that service, and (b) is reasonably necessary and appropriate for such purpose.
Side 521 - Congress undertook to develop and maintain, for the people of the United States, an adequate railway system. It recognized that preservation of the earning capacity, and conservation of the financial resources, of individual carriers is a matter of national concern ; that the property employed must be permitted to earn a reasonable return; that the building of unnecessary lines involves a waste of resources and that the burden of this waste may fall upon the public; that competition between carriers...
Side 521 - It recognized that preservation of the earning capacity, and conservation of the financial resources, of individual carriers is a matter of national concern ; that the property employed must be permitted to earn a reasonable return ; that the building of unnecessary lines involves a waste of resources and that the burden of this waste may fall upon the public ; that competition between carriers may result in harm to the public as well as in benefit ; and that when a railroad inflicts injury upon...
Side 521 - The purposes of this title are (1) to encourage and promote or require action on the part of the carriers and of subsidiaries subject to the Interstate Commerce Act, as amended, which will (a) avoid unnecessary duplication of services and facilities...
Side 604 - ... may not be diminished by the payment of dividends. In case, however, of the issuance of such shares in exchange for the shares of an existing business then having a surplus, such surplus may be retained as a surplus available for the payment of dividends, or in case said shares without par value are sold by a corporation which has accumulated a surplus, such portion of the price as shall bear the same proportion to the total price as the surplus bears to the total of capital and surplus of the...
Side 603 - Such stock may be issued by the corporation from time to time for such consideration as may be fixed from time to time by the Board of Directors...
Side 458 - Statement that no agreement has been or will be made by the applicant to pay any person, association, firm, or corporation, either directly or indirectly, any commission or fee for the loan applied for and that no such payments have been or will be made by the applicant.
Side 268 - Improvements on leased railway property. Deposits in lieu of mortgaged property sold Miscellaneous physical property Investments in affiliated companies Other investments . . . . CURRENT ASSETS: Cash Demand loans and deposits . . Special deposits Traffic and car service balances receivable Agents...

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