Case Name: The Portsmouth Home Telephone Co. v. Public Utilities Commission of Ohio
Court: Supreme Court of Ohio
Jurisdiction: Ohio
Decision Date: 1929-02-13
Citations: 120 Ohio St. 12
Docket Number: No. 21116
Parties: The Portsmouth Home Telephone Co. v. Public Utilities Commission of Ohio.
Judges: Marshall, C. J., Kinkade, Day and Allen, JJ., concur.
Reporter: Ohio State Reports, New Service
Volume: 120
Pages: 12–13

Head Matter:
The Portsmouth Home Telephone Co. v. Public Utilities Commission of Ohio.
(No. 21116
Decided February 13, 1929.)
Mr. Frank C. Dunbar and Mr. Joseph T. Micklethwait, for plaintiff in error.
Mr. Edward G. Turner, attorney general, and Mr. A. M. Galland, for defendant in error.
Mr. D. W. Gustin, city solicitor, and Mr. Henry Bannon, for city of Portsmouth.

Opinion:
By the Court.
In our opinion, the order of the Public Utilities Commission should be affirmed except in so far as the same provides for the appropriation of the excess of the annual net income above 6 per cent, of the present value of the property to be expended only in the making of repairs and replacements which are occasioned by extraordinary contingencies. In our judgment, said sum in excess of 6 per cent, of the present value of the property should be employed as directed by Sections 614-23 and 614-49, G-eneral Code, to-wit, to be employed for surplus, depreciations, and contingencies, and to provide the amount required over and above the cost and expense of maintenance to keep the property of the public utility in a state of efficiency corresponding to the progress of the art or industry.
In all other respects, the order of the commission should he affirmed, and, as so modified, such order is so affirmed.
Order modified and affirmed.
Marshall, C. J., Kinkade, Day and Allen, JJ., concur.