Public Utilities; Their Cost New and Depreciation (Paperback)

Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: PUBLIC UTILITIES: THEIR COST NEW AND DEPRECIATION CHAPTER I PROPERTY VALUATIONS ?GENERAL CONSIDERATIONS 1. Purpose of present treatise. 2. Limitation as to expert evidence relative to property value. 3. Present value dependent upon purpose of appraisal. 4. True present value to be determined by court or commission only. 5. Figures to be presented as indicating possible present value. 6. Original cost. 7. Replacement cost. 8. Depreciation. 9. Market value of bonds and stocks. 10. Capitalization of earnings. 11. Worth of service to the consumer. 12. Cost and value. 13. Value as "going concern." 14. Determination of fair present value. 15. Figures showing value independent of purpose of valuation. 16. Necessity of presenting all figures indicative of possible present value. 1. Purpose of present treatise. ? The increasing supervision by state authorities in the United States of the operation of public service undertakings has necessitated valuations of the properties employed by many classes of utilities. Much of the work which has been done in making such valuations has been carried out under the direction of engineers of wide experience, who have formulated methods which have been designed to furnish data upon which the true present value of the property under investigation could be determined with as near an approach to accuracy as is possible. On the other hand,a careful study of the details of the methods used by the various engineers and by the commissions, who have been engaged upon this work, shows a considerable variation both in the theories and principles which have been followed. It is of interest and of great importance that all such variations should be noted and the fundamental principles, involved in any comp...