Word: prudent
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...consistently endeavored to fix the companies' rates on the much-loved New Deal theory (from Brandeis) of "prudent investment."† Accordingly, FPC j now set the rate base value of the com pany at $33,712,526, the return at 6?%, and ordered rates slashed from...
...just and reasonable' it is the result reached, not the method employed, which is controlling. ... It is not the theory but the impact of the rate order which counts." To this, Justice Robert Houghwout Jackson dissented at length. He argued, in effect, that the "prudent investment" v. "reproduction cost new" utility debate did not even apply to the natural gas case at hand, and, with the concurrence of Justices Frankfurter and Reed, he retorted: "The Court sustains this [FPC] order as reasonable, but what makes it so, or what could possibly make it otherwise, I can not learn...
...Under the prudent-investment theory, the worth of a plant is computed solely on the amount of money "wisely" invested. Ruled out is money FPC considers "unwisely" invested. The effect of this theory is to place the lowest possible valuation on a plant for rate-fixing purposes...
...Roosevelt. President Philip Murray blamed the President and Congress equally for the raw deal that labor leaders insist that labor has been getting, added bluntly: "I don't like Washington as it is today." Agile Sidney Hillman, chairman of the new committee for political action, hedged with a prudent : "We will make our commitment...
Argentines are not fools. They are a smart, proud people. Most of them are for the Allies-from a distance. Most of them honestly think that their country can stay neutral and survive. That is one reason why they did not oppose the "prudent neutrality" of ex-President Ramon S. Castillo more than they did, why for a long time they had no serious misgivings about the stubborn neutrality of President Pedro Ramirez. But last week their misgivings were serious. Obviously, their Government was in a crisis; just as obviously, it was in confusion...