137.1012.  Aggregate valuation of distributable freight line company property by the commission — procedure. — 1.  The commission shall assess, adjust and equalize the aggregate valuation of the distributable property of each freight line company.  For the purpose of estimating the true value in money of the distributable property of a freight line company, the commission may take into consideration the reports filed under section 137.1009, the reports, statements or returns of the company filed in the office of any board, office or commission of this state, or any county thereof, and such other evidence of any kind bearing thereon.  No report, statement or return shall be conclusive upon the commission in estimating the true value in money of the operating property of a freight line company.  The commission may set the aggregate valuation of the distributable property of any freight line company upon which no returns have been made, which may otherwise be known to them as they deem just and right.

  2.  The commission may summons witnesses by process issued to any officer authorized to serve subpoenas and compel them to testify.

  3.  In originally assessing, adjusting and equalizing any distributable freight line company property for any year or years, the commission may arrive at its findings, conclusion and judgment, upon its knowledge, or such information as may be before it, and shall not be solely governed in its findings, conclusions and judgment by the testimony which may be adduced, but may give to it such weight as the commission may think it is entitled to receive.

  4.  When the operations of any such company shall extend beyond the limits of this state and into another state, then the commission shall assess, equalize and adjust only such proportion of the total value of all distributable property of such company as may be reasonably allocated to this state.  To accomplish this end, the commission may require information in its form reports under section 137.1009 which is necessary to properly assess and allocate such property.