Upstate Telephone Corp. v. Maltbie

On October 16, 1934, the Public Service Commission made an order temporarily reducing and fixing certain telephone rates to be charged by the petitioner for the period of one year, or pending the earlier fixation of permenent rates. The petitioner became the owner of various smaller telephone companies, and revalued on its books the assets of those companies at a much larger amount than that indicated by the records of the smaller companies and thus sought and altered rate base, on the theory that the books of the companies taken over were inaccurate, and did not properly reflect the true…