Final Report of the Special Committee to Formulate Principles and Methods for the Valuation of Railroad Property and Other Public Utilities

In presenting this report to the Members of the American Society of Civil Engineers, the Committee is fully alive to the fact that the art of valuation is still in formative condition, as is evidenced by the conflicting views expressed, or principles enunciated, even by the higher Courts. That debatable subjects arise frequently, and will continue to do so, is indicated by the record of the Committee’s work incident to the rendering of this report, for in spite of the prior knowledge of its members on this subject, and professional experience in it, five years have elapsed since their appointment, in which forty-eight joint meetings have been held, many of them consisting of three sessions, and a voluminous correspondence has been carried on, aggregating thirteen substantial volumes.