The Elbert County tribune., 1914-10-23

Sc. sSS!s ~. .ssss ss
sss g g S s wsass & sss 81
siss e the pubiie,s anS any aaie essef3
Sy ssss Ss,Ss I, sy s.y, sss
ssssry Is the psrformsnes 81 iss d.
sf such property In good fsisk fss
is} Or Ne public utility shall s.,:..ftsS
part of the capital stock OF any other
public usiiity. opsrating under and 81
DO 10 BY The commission. Every as
msnt for assisnmsns % H' OF tran.ssr s e
my an ssoek y hy Or through any persee
and of no effect. and no such trsnsfsr
public rtiiiiy. Nothing here herein coaz
tained shall be construed to prevent the
holdinE Of stock hsrstofors lawfully
a:esion 81 q, The power 4 susll.
evidences Of indsbtednsss and 10 Gre
ate liens on their property situated
the right of supervision. rssuistion' fs.
striction and control of which Is ana
shall continue to be vested In the stats.
provided by law and under such rules
and regulations AZ the commission may
OBJ A public utiiity may issue stocks
ana stock certificates. and bonds notes
and other svidences of indebtedness
months after the date thereof for tho
following purposes and no otherH
property as il nscessary for tho prop
er conduct OF Its business or for the
e fssli,iss 'nslon or
service. or for tho discharge or law
the reimburssmsnt OF moneys actually
expanded from income or from any
ouSiic utIlsgy ln the srsas1ry Of n.
tained from the issue of stocks or
stock certificates or bonds. notss Or
public utility. within. five years next
pIior TO the filing of an application
aut uthorixation. FOR any OF thsSafors-
said purposes sxcspt maintenance OF
service and rsplacsmsnts. in cases
its nceounts and vouchers for such eH-
pcndftures In such manner a. to en-
smount Of moneys 20 sspsndsd 4 ndss's'n ana sSs sS
purposes for which such expenditures
Tsrs s,sy sd' II prSya pssStIs that 'sss pub
auirements OF law. shall first have ss-
cured from the commission an order
amount thersof and the he. purposs a ' Or
purposes to which the issue or the
S ss Gsasn s5' d e s: p: sSRss tss
psHJP'Gy SF -ssS ssSF l.:s. 70
Or purposes specified in ths order. ana
that. except a. otherwise permitted In
osnsr evdsnes cas-: Of of nSsS Ss:s
buch purpose purposes are not, in
SSi. wael. ,o ogsrass Part &
whsthsr Il WIN Issue such order. tn.
may make such % additional inquiry -nS or
Investigation. aud examine such wit
sooss ssa *. srs
sncs: The commi.sion. may. by is or
such stocks or stock certificats.. o.
bonds. notes or other evidsnces Of in.
or in lesser amount. or not al ali. and
may attach to tho exercise OF Its per-
mission n such condition or ccndItions ~
The Commission may authorize issus;
Of bonds. notes or other evidences 81
or h.n The cr sus =
,:crfesd ,. capital stock Of . public utiI.
,iy tEy S9rRorstiog Al, ana the provisicns q
ersstion By corporations i0 of 1n:d ind.bsss. ses
ss. Ia ss y Il nss sss: S: sSe or Ss
ised or subscribed capital stock shall
ssv' sc pSsD nH sDDSsSn ssy sS. & PpbS ,SS. Ss; is
Issue q any stosE or stock csrSsifiesss. SH .s
dsbtednssss or any part thereof. or sny IN
nrooesds thsreof. to any purpose nos
so sny IL sss soao:a ,Ss d: e
amoune aussorlasd for 1sssS ssss pnrpos. nI n:
term. less favorsbis than those % spsef. 2 :,
fled In SUCH order. or = modIficstIon
notes for nransr 'T u,,rnnnsy ma my ss9s
d any other act. DsyaSis a. At 1o's 1DsrioSs sSs
the date Of issuance OF the same. via
out the consent Of the c9mmisslon.
stocks or stock % csrtiricasss. or e
bonds notes Of any term or character
sion. No public utliIty shall hays
consoiidetion. lease or merger. or Ia
o. lndsbtsdnsss a. : len thereon with
to authorize the capitaiiza<ion Of the
fhoazs e the e tr:S
chi1e or permit whatsoever or the
right to oTn. opsrate Or enjoy any
annual chargs) actually paid 10 the
thereof a. the ccnsideration Tor r''tR the
grant of such franchise. permit Or
right.
(c) The commission shall have the
power to require public utilities to ao-
count for the disposition OF the pro-
cceds. of all sales OF stock and stock
certificates. and bondH. notes and 9TH
er evidences Of indebtedness. in such
visab1e. and to establish such rulss
and regulations as IL NAV deem rea-
sonable and .uecessnyy to insure the
disposition OF such proceeds for the
purpose or purposes specified In the
order ,l Z. III
(d) All stock and every stock csr-
tificnte. and every bond. note. or 9TH
er evidence of Indebtedness. of pub
lie utility. issued without an order Of
then In effect shall be void. and like
wise All stock and every stock csrtift.