Thomas Buchanan Nomination to the FPC.: Hearings on ...

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214. lappuse - Congress to determine by statute the policies which they are to administer; but in the administration of those policies these tribunals must not be under the domination or influence of either the President or Congress or of anything else than their own independent judgment of the facts and the law. They must be in position and ready to give free and untrammeled advice to both the President and Congress at any time upon request. Political domination will ruin such a tribunal. I have seen this happen...
314. lappuse - From the investor or company point of view it is important that there be enough revenue not only for operating expenses but also for the capital costs of the business. These include service on the debt and dividends on the stock.
131. lappuse - Court said that the company is entitled to "a fair return on the fair value of the property", it made all regulation impossible.
314. lappuse - By that standard the return to the equity owner should be commensurate with returns on investments in other enterprises having corresponding risks. The return, moreover, should be sufficient to assure confidence in the financial integrity of the enterprise, so as to maintain its credit and to attract capital.
138. lappuse - No public utility shall begin the construction, installation or operation of any new plant, equipment, property, or facility, nor the construction or installation of any extension, improvement, or addition to its existing plant, equipment, property, apparatus, or facilities unless and until it shall have complied with any applicable general or special order of the commission.
26. lappuse - You have heard the motion. All those in favor say "Aye ;
42. lappuse - ... 4. There is no safe substitute in the procedure of the tribunal for full hearing and argument of the issues, when they are in controversy, although the hearing need not always be oral. This takes time, but it is time well spent.
214. lappuse - With the country as big and complex as it is, administrative tribunals like the Interstate Commerce Commission are necessities. Probably we shall have more rather than less. To be successful, they must be masters of their own souls, and known to be such. It is the duty of the President to determine their personnel through the power of appointment, and it is the duty of Congress to determine by statute the policies which they are to administer ; but in the administration of those policies these tribunals...
314. lappuse - it is the result reached not the method employed which is controlling"; "the fact that the method employed to reach that result may contain infirmities is not then important" and it is not "important to this case to determine the various permissible ways in which any rate base on which the return is computed might be arrived at.
311. lappuse - Whether or not the earnings may reasonably be expected to meet the interest and dividend requirements of the new securities is a sine qua non to a determination of the integrity and practicability of the new capital structure.

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