Ordered, 2. That the Missouri Union Telephone Company shall keep separate, true and accurate accounts showing the receipt and application in detail of the proceeds of the sale or disposal of the stock hereby authorized to be issued and sold, and at the end of each six months said company shall make verified reports to the Commission. stating the sale or sales of said stock during the previous six months, the terms and conditions of sale, the moneys realized therefrom, and the use and application of such moneys. Ordered, 3. That the authority hereby given to issue such stock shall apply only to stock issued by the said company on or before the thirty-first day of December, 1924. Ordered, 4. That this order take effect on this date, and that within ten days after service upon it of a copy of this order, said company shall notify the Commission whether the terms of this order are accepted and will be obeyed. February 28, 1924. In re APPLICATION OF THE TROY TELEPHONE COMPANY TO ISSUE AND SELL CAPITAL STOCK. Case No. 3916. Decided March 11, 1924. Issue of Stock Authorized. ORDER. Application having been made to the Public Service Commission under the provisions of the Public Service Commission Law by the Troy Telephone Company, a corporation, for the consent of the Commission to the issuance, by said corporation, of capital stock in the amount of $30,000, to its incorporators, in payment for their partnership property transferred to said corporation; and a hearing having been duly held upon said application be [M C. L. 148] fore the Commission, at which time evidence and testimony was introduced to show that the authorized capital stock of the applicant is $30,000; that the corporation had been incorporated for the purposes of taking over the assets of a copartnership, known as the Troy Telephone Company, and that said stock was to be issued in amounts of $5,000 to each of the six incorporators; and the Commission now being of the opinion: (1) That the issuance of said stock is reasonably required by the said Troy Telephone Company, a corporation, for the purposes specified in its application; (2) That said purposes are not in whole or in part reasonably chargeable to operating expenses or to income; Therefore, it is ordered, 1. That the said Troy Telephone Company, a corporation, be, and hereby is, authorized to issue its capital stock in the amount of $30,000, to be distributed to the incorporators in conformance with the petition. Ordered, 2. That the authority hereby given to issue such stock shall apply only to stock issued by the said corporation on or before the first day of January, 1925. Ordered, 3. That this order take effect on this date, and that within ten days after service upon it of a copy of this order, said Troy Telephone Company shall notify the Commission whether the terms of this order are accepted and will be obeyed. March 11, 1924. In re APPLICATION OF THE TROY TELEPHONE COMPANY, A COPARTNERSHIP, COMPOSED OF H. H. GARRETT, et al., FOR PERMISSION TO TRANSFER ALL ITS PROPERTY AND ASSETS TO THE TROY TELEPHONE COMPANY, A CORPORA TION. Case No. 3917. Decided March 11, 1924. Sale and Transfer of Property Authorized. ORDER. Application having been made to the Public Service Commission by the Troy Telephone Company, a copartnership, composed of H. H. Garrett, C. B. Watts, G. W. Schulze, Frank Howell, George McGregor and C. E. Cortelyou, to sell and by Troy Telephone Company, a corporation, to purchase, all of the right, title and interest of the said copartnership in the telephone exchanges located at Troy and Hawk Point, Missouri, including franchises from the city of Troy and the village of Hawk Point, rights-ofway, contracts, equities, accounts receivable, poles and pole lines, wires, cables, aerial systems, and other equipment, including supplies and material on hand, and all assets of whatsoever kind or character now owned by said copartnership and used, or to be used, in connection with said telephone exchanges, for the price and sum of $30,000; and a hearing having been duly held upon said application before the Commission at which time testimony and evidence was offered to the effect that the property to be sold, transferred or exchanged was of the value of at least $30,000; and it having been shown that the said Troy Telephone Company, a corporation, had been incorporated under the laws of the State of Missouri with a capital stock of $30,000, and a bill of sale having been presented, as Exhibit A, showing that the transfer of said equities for the sum of $30,000 had been agreed to by the petitioners in this case; and the Commission now being of the opinion that said transfer will be of benefit and advantage to both applicants and to the public served by the said corporation, [Mo. C. L. 148] Therefore, after due deliberation, It is ordered, 1. That the consent of the Commission be, and same is hereby, given to the sale, transfer and delivery by Troy Telephone Company, a copartnership composed of H. H. Garrett, et al., and to the purchase, ownership and operation by the said Troy Telephone Company, a corporation, of all the property, rights and franchises owned by the former for the price and sum of $30,000, as in said application asked and prayed for and as provided for in the bill of sale filed with this Commission. Ordered, 2. That nothing herein contained shall be considered as a finding by the Commission of the value for rate-making purposes of the property herein authorized to be sold and transferred. Ordered, 3. That this order take effect on this date, and that within ten days after service upon it of a copy of this order, said applicants shall notify the Commission whether the terms of this order are accepted and will be obeyed. March 11, 1924. In re APPLICATION OF THE SOUTHWESTERN BELL TELEPHONE Case No. 2463. Decided March 29, 1924. Temporary Increased Rates Continued as Maximum Rates. SUPPLEMENTAL ORDER No. 4. It appearing that the Commission, after due investigation, and after the company named above had submitted satisfactory evidence that its rates for telephone service as charged by it at its St. Louis exchange were inadequate, unjust and unreasonable, did by its order of record in See Commission Leaflet No. 137, p. 1009. * the above-entitled case, on the twenty-ninth day of March, 1923, permit said company to put certain increased rates into effect for a temporary period under certain terms and conditions, and It now appearing, further, that the above-named company did show by its verified reports filed in compliance with the terms of the above-mentioned order, that the revenue from the operation had not been sufficient to pay an unreasonable rate of return on the investment, Therefore, it is ordered, 1. That the above-mentioned company be permitted to continue to charge the present existing rates now on file with this Commission as maximum rates, until otherwise ordered by the Commission; that the Commission retains full and continuing jurisdiction of the parties and subject-matter of this cause to change, modify or amend said rate schedule at any time upon the files and record evidence now before the Commission or that may hereinafter be adduced by the Commission. Ordered, 2. That the above-named company be required to keep a full and correct account of revenues and expenses of its St. Louis exchange and file a full and complete verified report thereof with the Commission for each twelve months' period, beginning April 1, 1924, said twelve months' reports to be filed with this Commission not later than thirty days after the ending of such twelve months' periods, which reports shall be in addition to any other reports required by law. Ordered, 3. That this order shall be in full force and effect on and after April 1, 1924. Ordered, 4. That the secretary of the Commission shall forthwith serve upon the parties hereto a certified copy of this order and that the company shall notify the Commission within ten days from this date, in the manner prescribed in Section 25 of the Public Service Commission Law, whether the terms of this order are accepted and will be obeyed. March 29, 1924. [Mo. |