Mount Union Borough v. Kunz

Opinion by

Mr. Justice Sadler,

The Mount Union Water Company was duly chartered for the purpose of supplying water to the inhabit ants of the borough named. With the consent of the Public Service Commission, the latter contracted to purchase, on April 1, 1918, all the property and franchises of the corporation, agreeing to assume its bonded indebtedness, pay claims outstanding to an amount not in excess of $9,000, and turn over $60,000 in cash. The sale was consummated at the time fixed, possession of the plant was taken in May, and it has since been continuously operated by the municipality.…