Highspire Water Co. v. Public Service Commission

Citations

• 76 Pa. Super. 504
• 1921 Pa. Super. LEXIS 176

Syllabus

<p>Public Service Commission — Water companies — Bates—Valuation for rate-malcing pwposes.</p> <p>An order of the Public Service Commission determining the value of a water company for rate-making purposes at $28,000 is not confiscatory where it appears that the company was organized in 1902, and that the actual investment, as shown on the books of the company, is but $24,250. The fact that the company has outstanding bonds to the amount of $100,000 was properly disregarded by the Public Service Commission in determining the fair value of the property where there is nothing in the evidence to show that the company had cash property or anything else to represent what ought to have been the proceeds of such bond issue.</p> <p>Where the valuation as fixed by the Public Service Oommislion is $3,750 more than the total amount of the investment, and no deduction is made for depreciation, such valuation is not confiscatory and will be sustained.</p>