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STATE EX REL. UTIL. v. SO. BELL TEL. & TEL.

No. 84.

221 S.E.2d 322 (1976)

289 N.C. 286

STATE of North Carolina ex rel. UTILITIES COMMISSION et al. v. SOUTHERN BELL TELEPHONE AND TELEGRAPH COMPANY.

Supreme Court of North Carolina.

January 29, 1976.

Attorney(s) appearing for the Case

Rufus L. Edmisten, Atty. Gen. by I. Beverly Lake, Jr., Deputy Atty. Gen., and Robert P. Gruber, Associate Atty., Raleigh, for the State.

Edward B. Hipp, Commission Atty., Maurice W. Horne, Asst. Commission Atty., and Lee West Movius, Associate Commission Atty., Raleigh, for plaintiffs-appellees.

R. C. Howison, Jr., Joyner & Howison, Raleigh, John F. Beasley, R. Frost Branon, Jr., Atlanta, Ga., for defendant-appellant.

EXUM, Justice.

The ultimate relief sought by Southern Bell on this appeal is reversal of the Commission's Order and remand to the Commission for further findings and a new order in accordance with legal principles that Southern Bell contends should govern this proceeding. The Commission, Southern Bell contends, erred in that it: (1) failed to find Southern Bell's cost of equity capital as a material fact prerequisite to setting a fair rate of return on the utilities...

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