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replacement considered as repair, 357.

permanent improvements should not be annual charge, 358.

new construction should be charged to capital, 359.

[References are to sections]

OPERATING EXPENSES-Continued

new construction not an operating expense, 360
betterment out of income, 361.

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members representing such associations, 1089.

State Railroad Commission, 1090.

intervening parties, 1091.

cross-complaint, 1091.

when interveners denied reparation, 1091.

2. Proper respondents.

proper parties not made defendants, 1092.

company not made a party, 1092.

necessary parties defendant, 1093.

all carriers whose appearance is necessary, 1093.

who are parties in interest, 1094.

defendants must have an interest, 1095.

one of several joint parties, 1096.
liabilities in through carriage, 1097.
liability is joint and several, 1097.

See PROCEDURE.

PASSES,

[References are to sections]

public wrong in giving free passes, 636.
free carriage of certain persons, 636.
passes prima facie discrimination, 637.
reductions for certain classes, 638.
Act contains an elaborate list, 639.
passes under the old régime, 639.
persons destitute and homeless, 639.
charitable and religious purposes, 642
its officers and its agents, 643.
their families only in so far, 642.
passes for valuable consideration, 652.
denial of free transportation, 708.

See DISCRIMINATION, PERSONAL.

PASSENGER CARRIAGE,

passenger transportation under the Act, 164.
passenger fares generally on mileage basis, 591.
normal passenger mile-revenue, 689.

special kinds of passenger transportation, 689.
reductions to groups of passengers, 688.

what is "party rate," 688.

issue of mileage tickets, 727.

granting of excursion rates, 715.
rates for strip tickets, 727.

special rates for limited tickets, 727.
establishing of commutation fares, 597.
not discriminatory in themselves, 597.

PERCENTAGE OF RETURN,

1. Establishment of the doctrine.

elements in determining a fair return, 301.
rates fixed must not produce a deficit, 303.
adequate return must be left, 304.

reasonable return must be left, 305.

reasonableness of return a judicial question, 306.

reasonable profit upon each transaction, 307.

jurisdiction of the Commission, 308.

status of the companies affected, 309.

2. Fair rate of return.

interest upon bonds protected, 310.

rates at which governments can borrow no criterion, 311.
prevailing rate of interest allowed, 312.

what are reasonable dividends, 313.

current rate of return, 314.

fair rate of return, 315.

current rate the standard, 316.

reasonable profits sufficiently safe, 317.

[References are to sections]

PERCENTAGE OF RETURN-Continued

rate of return upon investments in general, 318.
public service has its peculiar risks, 319.
3. Policies respecting return allowed.

general policy for allowing a fair return, 320.
no right to raise rates in prosperous times, 321.
commercial conditions affecting dividends, 322.
how interest payable is considered, 324.
more than current rates of interest, 323.
profits divided not operating expense, 325.
consolidation of interest and dividend, 326.

reductions ruinous only to certain companies, 327.
creating a fund for payment of uniform dividends, 328.
greater profit for better service, 329.

4. Character of the enterprise.

larger returns in risky enterprises, 330.

hazards of the business considered, 331.

whether uniform return upon all property, 332.
rate of interest dependent upon safety, 333.
risk by reason of depreciated security, 334.
rate of return dependent upon locality, 335.
investment in public service, 335.

present tendencies in regulation, 337.

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provisions of the Act, 1070, 1071.
1. Proceedings before the Commission.
conduct of the proceedings, 1011.
procedure in regular course, 1072.
scope of the proceedings enlarged, 1073.
course of the pleadings, 1074.

raising the question of jurisdiction, 1075.
individual rate during general inquiry, 1076.

statement of the wrong, 1077.

sufficiency of the complaint, 1078.

answers in defense, 1079..

amendment to complaint, 1080.

responsiveness to pleadings, 1081.

application for relief, 1082.

informal complaint, 1083.

2. Parties to the proceedings.

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person interested as complainant, 1086.
complaint by an association, 1088.

intervening parties, 1091.

proper parties defendant, 1092.

necessary parties defendant, 1093.

who are parties in interest, 1094.

defendants must have an interest, 1095.
one of several joint parties, 1096.

who entitled to reparation, 1098.

as between consignor and consignee, 1099.
complainant not coming with clean hands, 1084.

3. Order of procedure.

default for failure to proceed, 1100.

dismissal of the complainant, 1101.

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