Show THE GAS DECISION In the struggle that Is going on all allover over ovel the country to regulate the public servIce corporations the court decision of January 4 1 is hailed by b most of the press says sars the Literary Digest pl est as a clear and wise exposition of oC what can be done and what can not be done dOlle The court was asked to save the tho Consolidated Gas company compan of New NewYork NewYork NewYork York from the lie law passed by the New NewYork NewYork NewYork York legislature cutting culling the pi price Ice of or orgas gas to SO cents per el 1000 feet from I In It reply aWn after aft L looking carefully into Inlo the film finance CeS of de the Hie concern the tho court decided that It could pay m divi dividends divIdends at G 3 per cent under the SO cent law and therefore refused to Inter Interfere fore fere hut but at the same fame time it gave tho the company compan permission to another suit if it found it could not make C G per por cent The court radically revised the estimate of the lao assets I n which It must earn dividends and Incidentally InCIdent lIY made m e the important rul rui ruling rulIng ing lug that in this case caso as there thero is no possibility of or competition there should be no allowance for good will The Philadelphia Press estimates in I the following sentences the Importance of the decision S SNo No decision In years ears has settled as much muli on public service corporations as the New York SO cent gas case None will be bo so often cited I Actual value is made tho the basis upon which the t e capital of a n railroad must be estimated The mero mere pres pros presence enco ence of water In shares does docs not hot count The franchise Is a part of the actual value This Increases In value with time and use The earning on this rals value must be bo G C por per cent This gives a public service corpora corporation corporation tion fair fall protection but on the other hand It can not refuse a rate until it I Ihas has tried it It The state can cau fix the rate I It can decide tho the charge to the tho public Once enacted the tho charge chargo must be ac accepted accepted accepted j until experience shows It does j I not earn G 6 por pol cent on actual a value I This practically limits the total re ro return roI reI I turn of a public service corporation If It a state exercises Its powers to G C por per percent cent on tho the actual value of tho tim prop property erty orty considered n M as a going golu concern realty equipment and franchise being I considered and fairly estimated I If moro more than G 6 per cent ont Is being i 1 earned on a fair valuation of these i i three factors rates can come down downIf If less rates must go up I The he broad public of consumers S will wo we believe accept this t ls as fair for both ends of the tha bargain |