William R. Day

“ This case does not involve the remedies which may be invoked against a street railway company which is or may become insolvent because of conditions arising since it entered into a given contract. The company seeks now by its own action to terminate the contracts, still binding upon it by their terms as to rates of fare to be charged, and seeks to have the aid of a court of equity by enjoining the city from any further requirement of service under them.
There is no showing that the contracts have become impossible of performance. ”

“ That on August 20, 1918, the company surrendered and canceled its blanket franchise and its Central Market franchise by notification in writing addressed to the city of Columbus, the mayor, council and clerk thereof. The company charges that the rates of fare prescribed by the terms and conditions of the two ordinances were not either before or when said franchises were surrendered as above stated and would not be if longer enforced against the company, sufficient to enable it to maintain its street railway property in good order and repair and to perform its duty as a public utility ”

“ That more than 25,000 persons are employed in the manufacture of munitions, clothing, and a great variety of other war materials for use directly by the United States government, and for the use of others furnishing war supplies to the government; also large railroad shops in which are employed many thousands of persons engaged in the making and repair of railroad engines, cars, and other equipment used and to be used by the United States Railroad Administration. ”

“ It is averred that as a result of such operations, for the current year ending June 30, 1919, the gross earnings will fall short of paying expenses, depreciation and taxes by approximately $250,000, and that there will be no earnings from which to pay its interest charges, or to yield any return to the company on the value of its property. ”