The Springfield herald., 1914-10-23

or OF any extension of such street rail-
oae tfs, ns hasna plant os.sne3 from the
commission q certificate that the pres.
ert or future public ccnveniencs and
constrnction: provided. that this sec
tion shall not be construed to rsauire
sertificst. fforpona for sn Extension 81 Within any any
which il shall have therstofore lawful
tension into Territory. either within or
without q city and county or city or
past or 20 IL. and not
character. or Tor an extension within
necessary in the ordinary course 81 il:
tusiness; and provided. furtsse. that II
Il. py na p.n or sysssm
lere with the operation Of the line.
lie utiiity Steady " eonstrueted. II.
commission. on complaint OF the pub.
ty m.y afss4 neorns so es make sasS
conditions for the location of the lines.
plants or syatems affected as to 1t may
seem Just and reasonable.
OBJ No public utility of class speci;;
fied ~ seetion ss Gas hereof shsl
lege under any franchise or permit
hereafter granted. or under any fran
eSa1 eSt psmt 0s
the exercise of which has been sus-
PENDED ta- for more than one one year; with
CT mmission certificate that public
esersiss Of such Fight or privilege:
provided. that when the commission
utility has heretofore begun actual con
edly and with reasonable diligence in
proportion to the magnitude of the un-
n a r 81 k n md a nv fran r Ynnr
e fore actually exercised. such pub
rules and acquisitions as the commits.
sion may prescribe. to the completion
Of such work. and may after such
section shall not be construed to val
Sna asfs or fssa psssSis
under any law OF this State.
C, Before any certificate may issue
OF fdff It's tns a4ess copy
;sf1 sesfs1peSatien. shall & siisa iII ,a the
Tie fRe''ia IN the office of the commlssion ,
% the commissen % IL to s SHOW u that a suos ap. py
a aT pert
or other public authority. The COM m.
mission shall have power. after hear;
ING. TO issue said certltlcate Ao prayed
issue 1t for the construction Of a por-
tion only. of the contemplated street
on for tSs eartiai s1 s1
ei else only of said right or privilege.
to .aa hs Of
terms and conditions as in its 1udg-
ment the public convenience and nsces-
Ity desires to exercise a right or privi
!ege under franchise or permit which
contemplssss as ,ssS sseurnS but
mission for an order preliminary to the
sion may thereupon make an order de-
claring that 1t will thereafter. upon
application. under such rules and reg
ulations as II may prescribe. issue the
desired certificate. upon such terms
and conditIons AZ Il may designate. af-
contemplated franchise or permit Upon
the presentation to the commission of
evidence satisfactory, to It that such
by such public utility. the commission
shall thereupon issue such certificate.
abe fee not exceedins fifts cents ON
each one thousand dollars Of capital to
Ae invested. for issuing said public con-
venience and necessity certificate.
ton. street railroad corporation. pipe
line corporation gas corporation. cleo
ttion. Telegraph corporation. water ' cor
poration. or person subject to the pro-
visions of this act, shall henceforth
sell. lease. assign. mortgage or other
or any part of its railroad. street rail-
or useful in the performance Of its du
ties to the public. or any franchise os
hermit or any right thereunder. or by
rect. merge or consolidate It's railroad,
| street railroad. line. plant or system,
thereof. with any other public utility,
without having first secured from the
commission an order authorizing It SO
to do. Every such sale. lease. assign
Tent. mortgage. disposition.. eLcum
brance., merger or consolidation made
der of the commission authorizing the
same shall be void. The permission
and approval Of the commission to the
section thirty-five (a) of this act. OF
the sale. lease. assignment. mortgage
a franchise or permit under this sec
ton shall not be construed to revive
Ct laPaes 9e or Invalid
the powers or PRIVILEGES contained in
the grant of any franchise or permit.
in this subsection contained shall be
construed to prevent the sale lease or
other dspos,tion by any public utility
ton of property which is not necessary
or useful in the performance of its du-
property BY such public utility shall
be conclusively presumed to have been
cf property which is not useful or nee
essary in the performance of its du.
ties to the public. as to any purchaser
Of such property in good faith for
value.
OBJ 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
N N q ~ fTnp for a
ment for 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
public utility. Nothing herein CON
talned shall be construed to prevent the
holding of stock heretofore lawfully
acquired.
Section 81. -(a) The power of public
utilities to issue stocks and stock cer-
tificates. and bonds. notes and other
evidences of Indebtedness and to ere,
ate liens on their property situated
within this state is a special privilege.
the right of supervision. regulation. re
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
and other evidences of Indebtedness
nayable at periods Of more than twelve
months after the date thereof, for the
following purposes and no Others.
namely: for the acquisition OF such
property as is necessary for the prop