Research Article
Dec 1912
The Appraisal of Public Service Properties as A Basis for the Regulation of Rates
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VIEW THE REPLYPublication: Transactions of the American Society of Civil Engineers
Volume 75, Issue 1
Abstract
It is the purpose of this paper to make clear the fact that appraisals of public service properties for rate-fixing purposes can be made, with advantage to all parties concerned, without deducting anything from the properly invested capital for depreciation. Incidentally, it will be pointed out that depreciation must, and how it should, be taken into account in estimating net earnings; that appreciation should be regarded as a reinvestment of earnings; and that there is and can be no definite basis for such elements of value as “going concern” and the like, unless operations are conducted under a restrictive franchise, that is, unless the franchise frees the public service corporation from outs ide control of its rates. No apology need be made for the elementary treatment of parts of the subject.
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© 1912 American Society of Civil Engineers.
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Published in print: Dec 1912
Published online: Feb 10, 2021
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C. E. Grunsky, M.ASCE
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