Oklahoma Reports Volume 29

Oklahoma Reports Volume 29

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912 edition. Excerpt: ...suggestions has treated an earning of Opinion of the Court. 8 per cent. on the present value of its property as a fair rate appellant is entitled to earn. It is likewise, however, unnecessary toidecide whether this rate is the limit above which would be unreasonable and oppressive to the public, or below which would be unreasonable and unjust to the company; It is sufficient. for the purpose of this case, if the rates or charges now maintained by the company, yielding a net return to appellant of approximately 5.5 per cent. per annum, are not excessive or unreasonable to the public for the service rendered; for if they are not, they should be permitted to stand. It is obvious that a charge for services that pays only the expenses and fixed charges, economically incurred in the rendering of such services, and yields only a fair and reasonable interest or income upon the capital invested, is not an unreasonable or oppressive charge to the purchaser of that service. The legal rate of interest in this state, in the absence of any contract, is 6 per cent., and by contract the parties may agree upon any rate not to exceed 10 per cent. Discussing the question now under consideration. the Supreme Court of'Pennsylvania, in Brymcr 12. Butler Water Compzmy, 179 Pa. 231, 36 Atl. 249, 36 L. R. A. 260, said: "By what rule is the court to determine what is reasonable and what is oppressive? Ordinarily that is a reasonable charge or system of charges which yields a fair return upon the investment. Fixed charges and the cost of maintenance and operation must first be provided for; then the interests of the owners of the property are to be considered. They are entitled to a rate of return, if their property will earn it, not less than the legal rate...show more

Product details

  • Paperback | 340 pages
  • 189 x 246 x 18mm | 608g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236984080
  • 9781236984081