THEODORE R. McKELDIN, GOVERNOR                     765

the franchises and property of its predecessor at a sale under judicial
proceedings, mortgage, or deed of trust, in such amount and in such
manner and form as in the judgment of the commission is reasonably
necessary to enable the corporation to procure the necessary capital
for its establishment as a going concern.

60.    (Records and Reports of Public Service Companies.)

(a)  The commission may classify the public service companies
subject to its jurisdiction, establish a uniform system of records for
each of the various classes, and prescribe the manner and form in
which the records of the company are to be.kept and particular items
entered. The system and form of records and the form of annual
report prescribed by the commission shall conform as nearly as pos-
sible to those prescribed by the corresponding federal regulatory
commission, if any, for public service companies of the same classifi-
cation in interstate commerce.

(b)  The annual report of every public service company shall be
verified by oath of the president, treasurer or general manager and,
in addition to such other information as might be required by the
commission, shall show: (1) amount and kind of authorized capital
stock, and of capital stock issued and outstanding, (2) amount and
kinds of authorized bonded indebtedness, and of bonds and other
forms of evidence of indebtedness issued and outstanding, (3) re-
ceipts and expenditures for the year reported, (4) the amount paid
as dividends and interest upon bonds or other similar indebtedness,
(5) the amount of salary paid to each officer, by name, and the
amount paid as wages to employees, and (6) the location of its plants
with a full description of its plant and franchises, stating in detail
how each franchise stated to be owned was acquired.

(c)  The commission shall furnish a blank form of annual report
to each public service company in sufficient time prior to the date
when the report is due. No change in the form of annual report shall
be made by the commission which requires a change in the manner
or form of keeping the company's records, unless notice of the pro-
posed change is given to the company at least six months before the
end of the year for which the report is due. The report shall be filed
with the commission within such time as the commission may direct
after the expiration of the year covered by the report.

(d)   The commission may require amendments or corrections of
the reports of any public service company within such time as it
may prescribe; and may prescribe the form, contents and deadlines
for such other reports and information as it may reasonably desire,
including specific answers to questions which the commission may
desire answered.

Rates

61.    (General Power of Commission.)

The commission shall have the power to determine just and reason-
able rates of public service companies, whether as maximum, min-
imum, or maximum and minimum, respectively. The rates so deter-
mined shall be fixed by order to be served upon each public service
company affected thereby.