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Session Laws, 1941
Volume 582, Page 1279   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. - 1279

difference between the operating revenue obtained from the
rates and charges prescribed in said temporary reduction
order, and the operating revenue which would have obtained,
during the period such temporary reduction order was in effect,
based upon the same volume, from the rates and charges finally
determined.

Whenever the Public Service Commission, upon petition of
any public service corporation, is of the opinion and so finds,
after an examination of the reports, annual or otherwise, filed
with the Commission by such public service corporation, to-
gether with any other facts or information which the Commis-
sion may acquire or receive from an investigation of the books,
records, or papers, or from an inspection of the property of
such public service corporation, or upon evidence introduced
by such public service corporation, that the operating income
of such public service corporation, after reasonable deductions
for depreciation and other proper and necessary reserves, is
less than the amount required for a reasonable return upon
the value of said public service corporation's property used
and useful in rendering service to the public, and is of the
opinion and so finds that a hearing to determine all of the
issues involved in the final determination of the rates or serv-
ice will require more than ninety (90) days of elapsed time,
the Commission shall have power, in case of such emergency,
and it is hereby given authority, to enter a temporary order
fixing a temporary schedule of rates, which order shall be
forthwith binding upon said public service corporation and
its customers; provided, however, that when the Commission
orders an increase in the rates or charges of any public service
corporation by means of such temporary order, it shall require
such public service corporation to enter into bond in such
amount and with such security as the Commission shall ap-
prove, payable to the State of Maryland and conditioned to
insure prompt refund by such public service corporation to
those entitled thereto, of all amounts which such public service
corporation shall collect or receive in excess or such rates
and charges as may be finally fixed and determined by the
Commission, and provided, further, however, that no such
temporary order shall remain in force or effect for a longer
period than nine (9) months from its effective date, and a
further period not to exceed three (3) months in addition if so
ordered by the Commission.

The term "public service corporation" when used in this
section includes a "street railroad corporation", a "gas corpo-
ration", an "electrical corporation", a "telephone company", a
"telegraph company", a "water company", and a "heating or
refrigerating company", as each of said corporations or com-
panies are hereinbefore defined in this sub-title, and shall like-

 

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Session Laws, 1941
Volume 582, Page 1279   View pdf image (33K)   << PREVIOUS  NEXT >>


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