other things being equal, the community is entitled to have the least expensive one used, and the supplying company is not entitled to charge an enhanced rate, based in part, at least upon the cost of using a more expensive source.

CHAPTER XXXII

Bibliography of Valuation and Depreciation

815. General.

816. Electrical property.

817. Gas plants.

818. Railroads.

819. Street and electric railways.

820. Telephone.

821. Waterworks. 822. Going value.

823. Depreciation.

This list is intended to include the more important material relating to actual valuations and the discussion of elements of value. It does not include discussions of the question of whether it is practicable or desirable to make physical valuations. This list should be supplemented by the Table of Cases, as many of the most important discussions of the elements of valuation are contained in the reported cases, and especially in the opinions of the state commissions. The following references are arranged chronologically under the various headings.

§ 815. General.

Railroad rate regulation. Beale and Wyman. 1906.

Valuation of public utility properties. Electrical World, March 25, April 15, 29, 1909, vol. 53, pp. 741, 928, 1036.

Difficult problems which public utility commissions are endeavoring to solve. H. C. Abell. American Gas Light Journal, June 21, 28, 1909, vol. 90, pp. 1120, 1164.

Valuation of operating properties. Edgar S. Nethercut. Elec

tric Railway Journal, May 28, 1910, vol. 35, p. 945.

Handbook of cost data. Halbert P. Gillette. 2d ed. 1910. 1854 pages.

Physical appraisal in relation to accountancy. Arthur K. Woodbury. Journal of Accountancy, Dec., 1910. 101⁄2 pages. Capitalization, capital value, appraisals and purchase price. Delos F. Wilcox. In his Municipal franchises, vol. 2, 549-563, 1911.

Proper basis of capitalization. Bruce Wyman. In his Public service corporations, vol. 2, pp. 1080-1112, 1911.

Valuation of public utilities property. Horatio A. Foster. Bulletin of Throop Polytechnic Institute, Jan., 1911, pp. 17-36.

Valuation of public service corporation property. Henry E. Riggs. American Society Civil Engineers Proceedings, Nov., 1910, pp. 1369-1538, Jan., 1911, pp. 97-140, Feb., 1911, pp. 205-273.

Elements affecting the fair valuation of plant and property. W. F. Wells. Paper read before the National Electric Light Association at its 34th convention, held at New York City, May 29 to June 2, 1911. 15 pages.

The legal basis of rate regulation: Fair return on the fair value employed for the public service. Edward C. Bailly. Columbia Law Review, June and November, 1911. 44 pages.

Valuation, a fair return and reasonable capitalization. Frederick P. Royce. Stone and Webster Public Service Journal, July, 1911. 18 pages.

Privilege becomes property under the fourteenth amendment: the Consolidated Gas decision. Jesse F. Orton. Independent, October 12, 1911, and March 28, 1912. 12 pages. Criticism of inclusion franchise value and cost of pavements laid at expense of city.

Responsibilities of electrical engineers in making appraisals. H. M. Byllesby. American Institute of Electrical Engineers, Proceedings, September, 1911, pp. 2013-2027, November, 1911, pp. 2356-2402.

Valuation of public utilities. Clinton S. Burns. City Hall, November, 1911. 24 pages.

Overhead charges. Mortimer E.Cooley. American Electric Railway Association. Proceedings, 1911, vol. 2, pp. 169-197. Decapitalization of public utilities. Delos F. Wilcox. City Club Bulletin, Chicago, December 16, 1911. 5 pages. Some criteria of value in public service industries. Clarence P. Fowler. Engineering Magazine, March, 1912. 16 pages. Wisconsin. Work of the joint engineering staff of the Wisconsin Tax and Railroad Commissions. Engineering Record, January 2, 9, 16, 1909, vol. 59, pp. 10-12, 49-52, 73-75. Description of work in making a physical valuation of steam and electric railways and other utilities. Work of the joint engineering staff of the Wisconsin Tax and Railroad Commissions. Wm. D. Pence. Electric Railway Journal, January 2, 1909, vol. 33, p. 22. 31⁄2 pages. Methods of Wisconsin Commission for the valuation of public utilities. Electric Railway Journal, September 11, 1909, vol. 34, p. 393. 314 pages.

Going value as an element in the appraisal of public utility properties. William H. Bryan. Journal Association of Engineering Societies, October, 1909, pp. 147-158.

§ 816. Electrical property.

The valuation of lighting systems as related to rates. Electrical World, August 15, 1908, vol. 52, p. 352. Extract from address of Henry L. Doherty before the Wisconsin Gas Association. For a discussion of this paper see Electrical World, September 19, 1908, vol. 52, p. 607.

Valuation of electric plants. Engineering Record, October 3. 1908, vol. 58, pp. 365-366.

Plant-inventory and valuation. Electrical World, February 3, 1910, vol. 55, p. 295. 14 pages.

Electrical undertakings and the law of rating (Great Britain). Electrical Review, January 21, 1910. 12 pages.

Report to Municipal Assembly of St. Louis on rates for electric light and power. St. Louis Public Service Commission, 1911. 173 pages. Valuation of property of Union Electric Light and Power Company.

§ 817. Gas plants.

Purchase value of the Hamilton (New Zealand) gas works. Journal of Gas Lighting, March 29, 1910. 1⁄2 page.

Valuation and income-tax (Great Britain). A. Yuill. Journal of Gas Lighting, April 12, 1910. 34 page.

British decision on valuation of public service property. Electrical World, June 30, 1910, vol. 55, p. 1694.

Kirkcaldy (Great Britain) gas-works purchase arbitration. Journal of Gas Lighting, January 17, 24, February 28, 1911. 414 pages.

Investigation of the Peoples' Gas Light and Coke Company for the Chicago Council Committee on Gas, Oil and Electric Light. William J. Hagenah, 1911. 83 pages.

Report upon the price of gas in Chicago for the Chicago Council Committee on Gas, Oil and Electric Light. Edward W. Bemis, 1911. 31 pages.

Swinton and Mexborough (Great Britain) arbitration: the price to be paid for the gas-works. Journal of Gas Lighting, June 27, p. 1016; July 4, pp. 50-54; July 11, 1911, pp. 117-119.

Mallow (Great Britain) gas purchase arbitration. Journal of Gas Lighting, December 19, 26, 1911. 434 pages. Aberavon and Margam (Great Britain) gas arbitration. Journal of Gas Lighting, January 23, 1912. 534 pages.