44 VALUATION, DEPRECIATION AND THE RATE-BASE 
“ Metropolitan Water-Works, Massachusetts. This property, 
costing to the end of 1912, $42,036,000, is to the extent of $15,- 
300,000 made up of old works purchased from the City of Boston 
and others, on which the engineering charge is not known, 
leaving $26,736,000, of which the engineering charge was $2,077,- 
ooo, equal to 7.77 per cent. Based on the total cost, exclusive 
of engineering, the percentage is 8.42. These amounts include 
both the preliminary engineering and that during construction. 
« New York Water-Works, now in process of construction. 
The disbursements upon this work to the end of September, 
1913, amounted to $103,178,000. The engineering expense 
directly attributable to the work under construction amounting to 
$10,050,000, equal to 9.73 per cent of the total disbursements for 
this work. In addition, there were engineering expenses re- 
lating to investigations of other drainage areas, which are only 
indirectly attributable to the work under construction, amounting 
to $304,000 or 0.38 per cent of the total disbursements, making 
the total for engineering 10.16 per cent. It is to be noted, 
however, that there is included in this case under the head * en- 
gineering ”’ the cost of unusually extensive borings and investi- 
gations which were not included as an engineering charge upon 
the Metropolitan Water-Works. There is not included, how- 
ever, the cost of expensive investigations by sinking shafts at 
the Hudson River, which, although originally charged to the 
engineering account, has been deducted because the shafts 
afterward became a part of the final construction. 
« Boston Subways. The following table has been compiled 
from official reports: