Nomination of Thomas F. Woodlock: Hearings...relative to the Appointment of Thomas F. Woodlock to be a Member of the Interstate Commerce Commission

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Halaman 53 - ... business, would this structure aforesaid be the lawful property of the company? The answer, it seems to us, must be in the affirmative. If the company had paid out in addition to other payments to investors, dividends equal to the cost of building this structure, and then had issued additional stock in value, equal to the cost of this structure, in order to repossess itself of the money required to build it, there can be no doubt that the...
Halaman 53 - ... aforesaid be the lawful property of the company? The answer, it seems to us, must be in the affirmative. If the company had paid out, in addition to other payments to investors, dividends equal to the cost of building this structure, and then had issued additional stock in value, equal to the cost of this structure, in order to repossess itself of the money required to build it, there can be no doubt that the structure built out of the proceeds of the additional securities thus sold would be...
Halaman 56 - UNITED STATES SENATE, COMMITTEE ON INTERSTATE COMMERCE, Washington, DC The committee met at 10 am, pursuant to adjournment on Thursday.
Halaman 50 - ... land and with the uncertainty as to the extent of the liability for accident under the existing laws, we have not felt able to fix a definite percentage for the omitted items, but think that they would amount to at least 2 per cent of the total before any overhead charges are applied.
Halaman 52 - If, in the past, this gas company, out of the rates exacted from consumers, had met its operating expenses and depreciation, and in addition thereto had obtained enough to pay returns to investors, and to build an actual structure used in the business, would this structure aforesaid be the lawful property of the company The answer, it seems to us, must be in the affirmative.
Halaman 50 - It will be seen that the overhead charges applied do not include any organization expenses, liability for accidents, and damages during construction nor taxes during construction. Without the value of the land and with the uncertainty, as to the extent of the liability for accident under the existing laws, we have not felt able to fix a definite percentage for the omitted items, but think that they would amount to at least 2% of the total before any overhead charges are applied.
Halaman 50 - In these charges we cover only engineering and supervision, omissions, contingencies and interest during construction. We have taken engineering and supervision at 5%, omissions, in view of the careful inventory, at only 2%, and contingencies at 2%. The allowance for interest is based upon a period for and a progress of, construction that would call for an average payment of interest at the rate of 6%, for one year on the total amount expended.
Halaman 50 - Reports of the Board of Public Utility Commissioners of the State of New Jersey...
Halaman 62 - State, to zone areas for the protection of the public and for the protection of the property owners, both within and adjacent to an area zoned.

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