...As again stated by the same Court in Wilcox v. Consolidated Gas. Company, 212 US 19: "There must be a fair return upon the reasonable value of the property at the time it is being used for the public * * * and we concur •vith the court below in holding that the value of the property is to be determined...

...[3] It would seem clear from the decisions that the most material question in such cases is that of the reasonable value of the property " at the time it is being used for the public " — that is to say, the time at which the question arises — it being upon the reasonable valution...

...being largely due to the increased value in commodities handled. ARGUMENT. A carrier is entitled to a fair return upon the reasonable value of the property at the time it is used for the public, and in fixing this value account should be taken of both the physical and intangible...

...(1899) , the court said it was "the real value of the property which should be taken into consideration. 'What the company is entitled to demand in order that...property at the time it is being used for the public. The property may have cost more than it ought to have cost, and its outstanding bonds for money borrowed...

...Town Co. v. Jasper 1 the court said: " It no longer is open to dispute that under the Constitution what the company is entitled to demand, in order that...property at the time it is being used for the public." That standard is adopted as against a standard based on actual cost, less depreciation. Actual cost,...

...rates, fixed by municipal ordinance. In that case District Judge Farrington said (at pages 145, 146): 8. What the company is entitled to demand in order that...property at the time it is being used for the public. . . . 9. The public has a right to demand that no more shall be exacted than the services rendered...

...Town Co. v. Jasper l the court said: " It no longer is open to dispute that under the Constitution what the company is entitled to demand, in order that...property at the time it is being used for the public." That standard is adopted as against a standard based on actual cost, less depreciation. Actual cost,...

...are reasonably worth." In San Diego Land & Town Co. v. National City, 174 US, 740, Harlan, J., said: "What the company is entitled to demand in order that...property at the time it is being used for the public." In Knoxville v. The Knoxville Water Co., 212 US, 1, Moody, J., said: "The first fact essential to the...

...Town Co. v. Jasper l the court said: " It no longer is open to dispute that under the Constitution what the company is entitled to demand, in order that...property at the time it is being used for the public." That standard is adopted as against a standard based on actual cost, less depreciation. Actual cost,...

...their nature, and the acts and orders which establish or maintain them are unconstitutional and void. "What the company is entitled to demand, in order...property at the time it is being used for the public." Smyth v. Ames, 169 TT. S. 466, 547, 18 Sup. Ct. 418, 42 L. Ed. 819;' San Diego T.and Co. v. National...