966 ARTICLE 23

other law, in so far as it is then actually being exercised for the public
service, without the permission and approval of the Commission first ob-
tained, after due hearing, and the determination by the Commission that
the present or future public convenience or necessity permit of such aban-
donment or discontinuance of the exercise of such franchise or right.

This section referred to in construing art. 56, secs. 294-310. Pub. Serv. Commn, v.
Williams, 167 Md. 330.

Cited in holding valid ch. 497, 1931, exempting W., B. & A. R. R. Co. Williams v.
Mayor, 289 U. S. 45.

Approval of Public Service Commission before carrier may abandon exercise of any
franchise held to apply to mere voluntary action by carrier and not to abandonment
required by contract or operation of law. Duvall Co. v. W., B. & A. Elec. R. Co., 60
Fed. (2nd), 315...

The commission has power to authorize the abandonment of a railroad line when
continued operation must result in serious financial loss and ultimate receivership—
see notes to sec. 388. Benson v. Public Service Commission, 141 Md. 400.

An. Code, 1924, sec. 380A. 1929, ch. 520.

390. In all proceedings before the Commission in which the permis-
sion, approval, authority or consent of the commission shall be applied for
under the provisions of Sections 388, 389, 401, 402, and 405 of this sub-
title, the commission may require that it be shown by clear and satisfactory
evidence that the granting of such permission, approval, authority or con-
sent is required by, or consistent with, the public interest, in addition to
compliance with other requirements of said sections; and when such proof is
required hereunder the burden of proof shall be upon the applicant.

This section referred to in construing art. 56, secs. 294-310. Pub. Serv. Commn, v.
Williams, 167 Md. 330.

An. Code, 1924, sec. 381. 1912, sec. 439. 1910, ch. 180, sec. 27 (p. 369). 1918, ch. 408, sec. 27.

1920, ch. 474, sec. 439.

391. A common carrier, railroad corporation, street railroad corpora-
tion, 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 stock, bonds, notes or other evidence of indebt-
edness, payable at periods of more than twelve months after the date thereof,
when necessary for the acquisition of property, the construction, completion,
extension or improvements of its facilities, or for the improvement or main-
tenance of its service, or the discharge or lawful refunding of its obligation,
or for the reimbursement of moneys actually expended from income, or from
any other moneys in the treasury of the corporation not secured by or ob-
tained from the issue of stocks, bonds, notes or other evidence of indebted-
ness of such corporation, within five years next prior to the filing of an ap-
plication with the Commission for the required authorization for any of the
aforesaid purposes, except maintenance of service and except replacements,
in cases where the applicant shall have kept its accounts and vouchers of
such expenditures in such manner as to enable the Commission to ascertain
the amount of moneys expended and the purposes for which such expendi-
ture was made, or when necessary or desirable, in the discretion of the
Commission, to cause the aggregate capitalization to conform to the fair
value of the property of such corporation as established by the Commission
pursuant to the provisions of Section 396; provided, and not otherwise,
that there shall have been secured from the Commission an order author-
izing such issue, and the amount thereof, and stating that, in the opinion of
the Commission, the use of the capital to be secured by the issue of such
stocks, bonds or other evidence of indebtedness is reasonably required for