Re-mod. Home had CH panel. We pulled new wire everywhere possible. Went to fire up the panel so we could have lights. Basement lights come on...cool. Main level now illumated...cool. Click on 15 amp breaker not labled and all the lights in the house dim out rad like. I opened the breaker back up and lights came back on. Has boss type come down with meter to see what was up. I was suspecting a bad connection somewhere. Meter connected, breaker closed, darkness prevailed and boss type reads '115.4'. No, I want amps, not volts. "That was amps" he said as I rushed to open the breaker. It seems there was a dead short in an outside light and the only resistance was in the wires which created a real nice heating element out of conductors.
I know of an inspector that has 1/2 inch burned off a pocket knife when he went L-N on a 120V 15A circuit and the breaker never tripped. It was a CH about 15 feet from the outlet being repaired.
Back in the day, CH was top of the line. I wonder what happened....