ART. 23] PUBLIC SERVICE COMMISSION. 267

states; neither may a corps of engineers and inspectors be maintained by
the commission in other states. The Public Service Commission cannot:
(in the absence of fraud) override the officers of the corporation in the
management of its affairs or in the fixing of the prices of its securities.
Police power. Baltimore and Ohio Railroad Company. Laird v. Baltimore
& Ohio R. R. Co., 121 Md. 181.
See section 159A.

1914, ch. 445, sec. 27 1/2.

439A. Subject in every respect to the authority and supervision,
conferred upon the Commission, by the next preceding section, a com-
rnon carrier, a railroad corporation, street railroad corporation, or other
corporation subject to the provisions of this sub-title, organized or
existing or hereafter incorporated under or by virtue of the laws of
the State of Maryland, may issue stocks, bonds, notes or other evi-
dences of indebtedness, payable at periods of more than twelve months,
after the date thereof, when necessary for the capitalization of its
earnings expended prior to the first day of April, nineteen hundred
and fourteen, in the acquisition of property, the construction, mainte-
nance, completion, extension or improvement of its facilities; provided
that the applicant shall have kept its accounts and vouchers in such
manner as will enable the Commission to ascertain the amount so-
expended and the purposes for which such expenditures were made,
and that application for the order of the Commission authorizing such,
issue shall be made on or before the first day of April, nineteen hun-
dred and fifteen, and provided further, that the legal validity and
effectiveness of any order of the Commission made prior to January
first, nineteen hundred and fourteen, authorizing and approving an
issue of stock for the capitalization of earnings expended in the acqui-
sition of property, or in the improvements, maintenance or extension of
facilities, shall not be in anywise affected, restricted or impaired by
anything contained in this Act, and every such order is hereby rati-
fied and confirmed.

440.

This section referred to in construing section 428—see notes thereto..
Smith v. Northern Central Ry. Co., 119 Md. 484.
See notes to section 439.

444.

See notes to sections 368 and 413.

1910, ch. 180, sec. 31 3/4 (p. 376). 1914, ch. 445, sec. 31 3/4.

445. The Commission shall have the general supervision of all
persons and gas corporations and electrical corporations and other cor-
porations having authority under any general or special law, or under
any charter or franchise, to lay down, erect or maintain wires, pipes,
conduits, ducts or other fixtures in, over or under the streets, highways
and public places of any municipality, for the purpose of furnishing
or distributing gas, both natural and artificial, or of furnishing, or