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STATE v. CAROLINA TEL. & TEL. CO.

No. 98.

80 S.E.2d 643 (1954)

239 N.C. 675

STATE ex rel. UTILITIES COMMISSION v. CAROLINA TEL. & TEL. CO.

Supreme Court of North Carolina.

March 17, 1954.

Attorney(s) appearing for the Case

W. T. Joyner, Raleigh, C. H. Leggett, Tarboro, and Ward & Tucker, New Bren, for appellant.

Harry McMullan, Atty. Gen., and John Hill Paylor, Asst. Atty. Gen., for appellee.

PARKER, Justice.

The Utilities Commission found as a fact that the present value of the Common Capital Stock of the defendant Carolina Telephone and Telegraph Company is such that it cannot approve the sale of such shares of stock at a price of less than $115 per share. The defendant in a letter supplementing its petition for a rehearing before the Utilities Commission stated: "it is not our intent to raise and we do not raise, in this proceeding, any question...

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