Chicago & Eastern Illinois Railway Co. v. Miller

This case concerns the validity of a charge made by the Commerce Commission for a certificate approving bonds issued by the Chicago and Eastern Illinois Railway Company and secured by mortgage of its property. Article 3 of the Public Utilities act provides that the right of public utilities to issue stocks and bonds shall be exercised under such rules and regulations as the commission may prescribe, requires public utilities to submit their issues to the commission for approval, declares all stock certificates and bonds of the character involved in this proceeding void if issued without an…