Southern Bell Telephone & Telegraph Co. v. Tennessee Public Service Commission

On November 10, 1954, the Telephone Company filed Avith the Commission a schedule of increased rates and charges to become effective on December 10,1954. These proposed rates and charges were based on the Telephone Company’s operations, costs, conditions, etc., for the year preceding June 30,1954. It proposed by these rates to get an additional gross revenue of $9,800,000 annually or additional net revenues of $4,435,000 annually. Obviously, and of necessity, its contention was that tbis was necessary so that it have a fair rate of return upon the fair value of its properties.

At common law a…