Reports of the Public Service Commission (Paperback)

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...