This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1917 Excerpt: ...the will of the state, to abandon the enterprise,
tear up its track, and sell its rolling stock and other property,
and divide the proceeds among the stockholders. The possible
effects of the exercise of such a claimed power are utter disaster
to the great interests of the state, certain destruction of private
property, in which whole communities, created and existing upon the
faith of the continuous use of the chartered powers, are
interested, and, indeed, the life of the citizen, as well as his
property rights, are thus jeopardized. Upon principle it would seem
plain that railroad property, once devoted and essential to puMic
use, must remain pledged to that use, so as to carry to full
completion the purpose of its creation; and that this public right,
existing by reason of the public exigency, demanded by the
occasion, and created by the exercise by a private person of the
powers of a state, is superior to the property rights of
corporations, stockholders, and bondholders. To this effect, also,
is the weight of authority. Citing a number of cases. " The
American and English cases which seemingly doubt these propositions
place their conclusions upon the construction of the particular
chartered powers and obligations. The necessary conclusion is that
the state has a right to enforce the continuous exercise of the
corporate powers and franchises for public use, to the exhaustion
of the value of such property and franchises; and this is true no
matter what private right may embrace the title of the property." 4
MO. P. S. C. In State ex rel. v. Dodge City M. & T. Ry. Co., 53
Kan. 377, 378, 379, 36 Pac. 747, 42 Am. St. Rep. 295, 24 L. R. A.
564, 568, in granting an injunction to restrain the removal of
railroad tracks, on a part of the road which...
|Country of origin:
Missouri Public Service Commission
||246 x 189 x 18mm (L x W x T)
||Paperback - Trade
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