The Springfield herald., 1914-10-09

or Of any extension of such street rail
rSad, n%s ,, or line: plant or system; en-, with. H.
Commission a certificste % that the pres
ert or future public convsnience and
eenstrue.,on: provid.S. that shi this sec" sec.
ton shaii shah not be construed to rseuir,s
which j. shall h.a. " tiss .sssrstoiose Ct lawfuI.
tension Into territory either within or
without a city and county or city OF
line piant or e :n ana not shess
sha1setsr. or Tor An sItension within
business: and provided. }urisse. that il
/ Ir extending its line. plant % or System.
shall interfere or be about to inter
commi.sion. on Complaint of the pub
effected. may. after hearing. make such
order and prescribe such terms and
or ns a as to ssi
seem Just and reasonable.
o. Nc public Utility of q class spsci;
Is 9 rHh. Of ha
iege under any franchise or permit
Hereafter granted. or under any fran
not heretofore actually exercised. or
the exercise Of which has been sus-
est first ha~ins 5 oStainsd 1. yfa from "'tn II.
and s.e..y lsaals pue hs
previdsd. prs that % when % the or sommissicG nsfs;
shni, find Ind after ssssrIns that public
SUCH work. a good faith. unlnterrupt-
proportion s % % to the maKnitsds he' of the un m
init herstoior: sranted but not here
rules And regulations as the commits
sion anS may DrsHscribs to the s99mpie.ion
completion. exercise such right or priv
.sEf and nnt .urthsr that this
valid or or hereafter pbeeominE Invalid
under any law of this State.
Of il. ar.!ciss y ineespornsion COPY 81
sna5sss f .ssi sss g. tisa in BE- the
sPpiissns foT se5tifieats shsll
such evidence as shall be required by
the commission TO show that such ap-
oy ns the
or other public authority. The COM
ins to i.sas iaid s.Psifisate PSm % q: pr.ssd
for. or to refuse to issue the same. or to
ton only Of the s'eoGaIa eontsmplated 90 street ee
taliEoad tsn.,on line Plant or system or s1-
rights granted BY said certifieats such
ment the public convenience and nsces-
sity may REQUIRE. II such public utli-
ty desises Ise to ,e.erei:e right or priv
has not a. yet been Granted to it. such
%ission for an order App prsimnary IL rye to s1m the
issue of the certificate; The commits
may hst % oIds
uiations as 4 may prescribe. issue the
and conditions a. Il may designate. at
ter such public utility has obtained the
iSSntsmDiatsd .S or permit Upon
franchise o., permit has been secule
shall thereupon issue such certificate
The commission shall charge a reason
o%s tho aoi.r. % Il csplssl
venience and necessity certificate.
an se.s g. r.Soss 81 Np
line corporation. gas corporation. cleo
| trical corporation, telephone corpora
Visions OF this act...shall henceforth
dispose q or tie RI %hofe
lcr any part of Its railroad. street rail-
road. line plant or system. necessary
nermit or any right hereunder. or by
rect. rect merge merge or consolidate It's railroad.
street railroad. line. plant or system,
or franchises t.i;.s or permits or, or any part
without having first secured from the
commission an order authorizing It so
ment. morteage. disposition. encum-
brance: merger or consolidation made
other than In accordance with the Or Or
game shall be void. The permission
and approval of the commission to the
section thlrty-five Ga) of this act OF
the sale. lease. assignment, mortgage
a franchise or permit under this sec
tion shall not be construed to revive
or validate any lapsed or invalid fran
the powers or privileges Contained il,
the grant of any franchise or permit.
in this subsection contained shall be
construed to prevent the sale, lease or
other disposition by any public utility
ton of property which Is not necessary
or useful in the performance of its du-
| e.
property by such public utility shall
CT property which is not useful or nee
essary in the performance of It's du-
ties to the public. as to any purchaser
of such property in good faith for
| value.
tb) No public utility shall hereafter
purchase or acquire. take or hold. anv
part of the capital stock of any other
public utility. operating under and by
virtue of the laws of this State. with
out having been first authorized to
do SO by the commission. Every as
siSnment. transfer. contract or agree
ment Tor assignment or transfer or
any stock by or through any person
or corporation to any corporation. or
otherwise. in violation of any of the
provisions of this section shall be void
and of no effect. and no such transfer
shall be made on the books of any
public utility. Nothing herein CON
| tained shall he construed to prevent the
holding. of stock heretofore lawfully
acquired.
Section 81. (a) The power of public
utilities to issue stocks and stock GER
ItIficates. and bonds notes and other
evidences of Indebtedness and to Gre
ate liens on their property situated
within this State is n special privilege.
the right of supervision. regulation. re :
1 striction and control OF which Is and
shall continue to be vested In the State.
and such power shall be exercised as
provided by law and under such rules
and regulations as the commission may
prescribe.
OBJ A public utility may issue stocks
and stock certificates and bonds. notes
| IF q q