Mahaffie Nomination to Interstate Commerce Commission: Hearings...Mar. 26, 31, May 8, and June 3, 24, 25, 19521952 - 200 sider |
Vanlige uttrykk og setninger
amount Arthur Curtis asked available for interest average earnings bankruptcy basis bondholders CHARLES D Chicago Great Western claims Commission Original decision Commissioner Splawn common stock corporation correct Cotton Belt creditors decision approving plan directors dissent dollars estimate of future estimated future earnings fact figures Finance Bureau fixed charges forecast forfeiture decision forfeiture plan furnished future earnings available going Gulf Coast Lines Interstate Commerce Commission issued June 9 Justice Frankfurter last hearing MAHAFFIE majority matter memorandum million Milwaukee mission Missouri Pacific lines Missouri Pacific Railroad Original decision approving percent preferred stock proceedings question railroad reorganization railway operating income reason to doubt recall receivership recollection record reorganiza reorganization plan road Seaboard section 77 Senator TOBEY senior bonds staff statement stockholders Supreme Court testimony thing tion traffic trustee United States Senate valueless vote Western Pacific Railroad wiped
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Side 9 - ... 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 19 - ... and, if it is agreeable to the committee, I would like to have...
Side 10 - The 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 77 - ... inadequate in value to satisfy their claims. For this reason, and for the reasons stated with respect to the finding that the equity of the existing stock has no value, we find that the claims of the unsecured creditors, of the Western Pacific Railroad Corporation, and of the Western Realty Company, have no value, and hence no securities or cash should be distributed under the plan in respect to those claims.
Side 77 - Reorganizations cannot succeed if they are based on claimed values that have long since disappeared in a realistic sense and on business that has long since been lost to the railroads never to return. A reorganization based on a sound judgment of earning power destroys no values and creates no losses. It merely realistically recognizes the facts, including the unpleasant but nevertheless inescapable fact that values based on original cost or even reproduction cost simply do not exist without earning...
Side 146 - A valuation for reorganization purposes based on earning power requires of course an appraisal of many factors which cannot be reduced to a fixed formula. It entails a prediction of future events. Hence "an estimate, as distinguished from mathematical certitude, is all that can be made.
Side 102 - FIXED CHARGES . Rent for leased roads and equipment Interest on funded debt .... Interest on unfunded debt .Amortization of discount on funded debt.
Side 131 - ... The problems which are of most concern and which are frequently spoken of as appropriate issues for protest action involve an uncertainty as to specific goals. Nowhere is this more evident than in the field of housing. There is disagreement among influential Negroes as to the source of the problem, what ought to be done about it, and what can be done under the circumstances (12).
Side 38 - It cannot be gainsaid that the Commission knows all about the Debtor, its property, its history, financial and otherwise, its traffic and revenue, and its financial structure. No official body in the country is better qualified, by reason of experience, ability and specialized knowledge than is the Commission to find the ultimate facts as to the Debtor in relation to any of the matters mentioned.
Side 9 - No public utility shall issue any security, or assume any obligation or liability as guarantor, indorser, surety, or otherwise in respect of any security of another person, unless and until, and then only to the extent that, upon application by the public utility, the Commission by order authorizes such issue or assumption of liability.