The Corporation Commission shall have the same power and authority and be charged with the duty of regulating and controlling such cotton gins in all matters relating to the performance of public duties and the charges therefor and correcting abuses and preventing unjust discrimination and extortion, as is exercised by said Commission as to transportation and transmission companies and shall have the same power to fix rates, rules, charges and regulations to be observed by such person or persons or corporation operating gins and the affording of all reasonable conveniences, facilities and services as it may impose as to transportation or transmission companies. For the purpose of carrying into effect the provisions of this act,¹ there is hereby created a Department of Cotton Gin Utilities under the Corporation Commission. The Commission shall appoint inspectors of cotton gins, whose functions, duties and term of office shall be regulated by the Commission. It shall be the duty of each and every corporation, company, firm or individual owning or operating a cotton gin to file a final report for the preceding year not later than ninety (90) days following the expiration of the fiscal year of the cotton gin utility. Failure to file said report shall constitute a forfeiture of license and is hereby declared to be a misdemeanor and may be prosecuted as such, said report to be in accordance with rules and regulations promulgated by the Commission from time to time.