Research Article
Jan 1915
Depreciation as an Element for Consideration in the Appraisal of Public Service Properties
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VIEW THE REPLYPublication: Transactions of the American Society of Civil Engineers
Volume 79, Issue 2
Abstract
The object of this paper is to bring nearer to standardization the methods of dealing with depreciation when valuations are made for rate-fixing purposes; to show that the repayment to the owner of invested capital has nothing to do with depreciation; to show that the investment should not be returned to the owner unless he is to be bought out; to show that a public utility taken as a whole may be regarded as having unlimited life; to show that in fixing rates the replacement requirement may with advantage be allowed to take the place of the depreciation allowance; to show that departure of actual from probable life should be taken into account in estimating replacement requirements or depreciation; and to show that the method here called the Unlimited-Life Method of making appraisals is better suited than other methods, to serve as the basis for estimating necessary earnings.
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© 1915 American Society of Civil Engineers.
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Published in print: Jan 1915
Published online: Feb 10, 2021
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C. E. Grunsky, M.ASCE
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