Joseph McKenna, Pacific Electric Railway Company v…
“ The notice of an application for a franchise is required to state that sealed bids will be received for the franchise 'up to a certain hour and day named therein' (§ 3) , and also to state that the franchise 'will be granted to the person, firm, or corporation who shall make the highest cash bid therefor;' and any bid may be raised not less than 10 per cent 'above the highest sealed bid,' and the franchise finally struck off, sold, and granted to the 'highest bidder.' (§ 5) . ”
