Evening journal., 1913-01-31
THE EVENING JOURNAL. FRIDAY. JANUARY 81. 1919

bic and will furnish sufficient bust
ness to justify the construction and
maintenance of the same, and when
the financial condition of the said
public utility reasonably warrants
the original expenditure required in
making and operating such extension.
(d) To require every such public
utility as herein defined TO keep it's
books, records and accounts so as to
afford an intelligent understanding OF
the conduct of its business.
te) To furnish annually a detailed
report OF the finances and operations
In such form and containing I, such
matters "a the board may from time
to time by order prescribe.
90 To carry, whenever In the
judgment Of the board Il may reas-
onably be required, for the protection
OF stockholders, bondholders or cred
itors, a proper and adequate deprecia-
tion account, IN accordance with such
rules, regulations and forms OF ac-
count as the board may prescribe.
The board shall from time to time
ascertain and determine. and by or
der IN writing, after hearing, fix
proper and adequate rates OF depreo-
iation Of the property OF each public
utility, In accordance with such reg
ulations or classltlcations. which
rates shall be sufficient to provide the
amounts required over and above tho
expense OF maintenance TO keep such
property IN a state OF efficiency cor
responding to the progress OF the
industry. Each public utility shall
conform its depreciation accounts to
the rates so ascertained, determined
and fixed. and shall set aside the
moneys so provided for out OF the
earnings and carry the same in a de-
preciation fund. The income from
investments Of moneys IN such ~
shall likewise be carried In such
fund. This fund shall not be extend
ed otherwise than for depreciation
improvements, new constructions, ex-
tensions, or additions to the property
Of such public utility.
(g) To give such notice TO the board
as the board may by rule require OF
any and all accidents which may
occur upon the property Of any pub
lie utility as herein defined or d.
rectly or Indirectly arising from OF
connected with its maintenance OF
operation, and to investigate any such
accident and TO make such order OF
recommendation with respect 10 1t as
in its judgment may be just and rea-
sonable.
(h) When any public utility as
herein defined shall increase any ex-
isting rates, tolls, charges or sched-
ule thereof, the board shall have
power, either upon written complaint
or upon its own initiative. to hear and
determine whether the said increase
change or alteration is just and rea-
sonable. The burden of proof to show
that the said increase, change OF
alteration is just and reasonable shall
be upon the utility making the same
The board shall have power, pending
such hearing and determination, Ia
order the suspension of said increase
change or alteration until the said
board shall have approved said in
crease. change or alteration upon
being satisfied that the same Is Just
and reasonable.
Section q No public utility as
herein defined, operating in the city
of Wilmington, shall hereafter:
(a) Issue any stocks, stock certih.
lcates. bonds or other evidences oi
indebtedness payable in more thar
one year from the date thereof unit
it shall have first obtained authorit.
from the board for such proposed is
sue. 1t shall be the duty Of the boar'
after hearing to approve of any sucl
proposed issue maturing in more thar
one year from theNdate thereof, whei
satisfied that the same is to be mad
In accordance with law and the Dur
pose Of such issue be approved b.
said board.
On Capitalize any franchise TO b'
a corporation; capitalize any fran
chise in excess of the amount Tex
elusive Of any tax or annual change
actually paid to the state or any po