Lambdin v. Commerce Commission Ex Rel. Assumption Mutual Telephone Co.

The circuit court of Christian county confirmed an order of the Illinois Commerce Commission granting leave to the Assumption Mutual Telephone Company, a corporation, to execute a mortgage on its property securing an issue of $20,000 first mortgage bonds. The cause is here on appeal.

On July 6, 1931, the corporation, by its president and secretary, filed a petition with the Commerce Commission asking consent to the issuance by the corporation of $20,000 par value six per cent first mortgage gold bonds, to bear date July x, 1931, and to mature July 1, 1951, the same to be secured by a first…