People ex rel. New York Railways Co. v. Public Service Commission
Appellate Division of the Supreme Court of the State of New York
Cebtiobabi issued out of the Supreme Court and attested on the 17th day of April, 1913, directed to the Public Service Commission of the State of New York for the First District and to Edward E. McCall and others, as commissioners thereof, commanding them to certify and return to the office of the clerk of the county of New York all and singular their proceedings had in directing the relator to set aside twenty per cent of its gross receipts to pay for maintenance and…
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Cebtiobabi issued out of the Supreme Court and attested on the 17th day of April, 1913, directed to the Public Service Commission of the State of New York for the First District and to Edward E. McCall and others, as commissioners thereof, commanding them to certify and return to the office of the clerk of the county of New York all and singular their proceedings had in directing the relator to set aside twenty per cent of its gross receipts to pay for maintenance and depreciation.
1Opinion of the Court
Smith, J.:
Pursuant to foreclosure decrees of the Circuit Court of the United States the property and franchises of the Metropolitan Street Railway Company were sold to a purchasing committee of bondholders acting under a reorganization plan. Thereafter the purchasers conveyed the property and franchise thus purchased to the New York Railways Company, the relator in this proceeding. This reorganization plan contemplated the formation of the relator company with a capital stock of $17,500,000 par value, the issuance by said corporation of $16,768,100 face value of thirty-year first real *340estate…
2Cases cited7 opinions
- City of Knoxville v. Knoxville Water Co.Supreme Court of the United States · 1909
- People Ex Rel. Jamaica Water Supply Co. v. State Board of Tax CommissionersNew York Court of Appeals · 1909
- People Ex Rel. Binghamton Light, Heat & Power Co. v. StevensNew York Court of Appeals · 1911
- People ex rel. Third Avenue Railroad v. State Board of Tax CommissionersAppellate Division of the Supreme Court of the State of New York · 1909
- People ex rel. Jamaica Water Supply Co. v. State Board of Tax CommissionersAppellate Division of the Supreme Court of the State of New York · 1908
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3Cited by1 opinion
- Gearns v. Commercial Cable Co.Appellate Division of the Supreme Court of the State of New York · 1943