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ART. XXIII] PUBLIC SERVICE COMMISSION. 173
have no power to authorize the capitalization of any franchise to be a
corporation or to authorize the capitalization of any franchise or the
right to own, operate or enjoy any franchise whatsoever in excess of
the amount (exclusive of any tax or annual charge) actually paid to
the State or any political subdivision thereof as the consideration for
the grants of such franchise or right. Nor shall the capital stock of a
corporation formed by the merger or consolidation of two or more other
corporations exceed the sum of the capital stock of the corporations so
consolidated, at par value thereof, or such sum and any additional sum
actually paid in cash, nor shall any contract for consolidation or lease
be capitalized in the stock of any corporation whatever, nor shall any
corporation hereafter issue any bonds against a lien upon any contract
for consolidation or merger.
456.
A public service corporation may not be required to extend its branch'
into territory that it has not attempted to serve when the public revenues
therefrom are not sufficient to pay the interest on the cost of the exten-
sion and the maintenance of the service, and where the company has not
the money to pay for the extension and is unable to sell its bonds for that
purpose. Order of commission held unreasonable. Public Serv. Com. v
Brooklyn, etc., Water Co., 122 Md. 619.
See notes to section 413.
457.
See notes to sections 413, 430, 438, 458 and 460.
458.
The court in considering the question of the unreasonableness of rates
fixed by the commission should have before it the evidence produced
before the commission. Carriers may not be required to perform services
at rates less than the actual costs of such services. See notes to sections
430 and 460. Public Serv. Com. v. N. C. Ewy. Co., 122 Md. 387.
See notes to sections 413 and 438.
459.
This section referred to in connection with the power of the commission
under section 436—see notes thereto. N. C. Rwy. Co. v. Public Serv. Com.
124 Md. 147.
460.
The court has no authority to determine what would be a reasonable-
rate for the service required or to establish rates, but is limited to deter-
mining whether the rates fixed by the commission are unreasonable or
unlawful; this section applied. Evidence held admissible. See notes to
sections 430 and 458. Public Serv. Com. v. N. C. Rwy. Co., 122 Md. 388.
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