Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 174667931X

URN:: urn:nbn:de:zbw-retromon-119897

Document type:: Monograph

Author:: Grunsky, Carl Ewald http://d-nb.info/gnd/10180959X

Title:: Valuation, depreciation and the rate base

Edition:: 2. ed., revised and extended

Place of publication:: New York

Publisher:: Wiley

Year of publication:: 1927

Scope:: X, 500 Seiten

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV. Essentials of value

Collection:: Economics Books

ESSENTIALS OF VALUE 5 “On the Massachusetts Metropolitan Water-Works, the ad- ministrative and expert services, with a small portion of the legal services, amounted to 1.43 per cent of the cost of the work, an unusually low figure, as there was very little litigation in connection with the work. “On the New York Water-Works the strictly administrative expenses to the end of September, 1913, were 1.12 per cent of the total disbursements to that date, but in addition, adver- tising and the fees of special counsel and commissioners of appraisal to the end of 1912, all in connection with the acqui- sition of land, amounted to $2,966,000, equivalent to 3.39 per cent of the total disbursements to that date, making the total for general expenses, exclusive of police services, 4.51 per cent. “On the Boston subways the general expenses, as given by accounts, have amounted to 3.42 per cent of the total, but some items usually classed as general expenses were charged directly to the various sections of the work. “It should be remembered that in all cases above cited, a part of the general expenses have been paid out of general funds and are not included in the above percentages. “ In modern works in populated sections of the country there is a strong tendency toward an increase in general expenses, owing to the greater attention paid to policing and sanitation where large bodies of men are employed. “On the Metropolitan Water-Works the charge for police services amounted to $211,000 for works costing $26,737,000, equal to 0.79 per cent. “On the New York Water-Works to the end of 1912, the total disbursements amounted to $87,551,000, of which $1,369,000 was for police, equal to 1.56 per cent of the total. “ The Committee believes that original conditions should be considered in determining the proper percentage for general ex- penses and that the allowance above suggested for police and sanitation should be included only when similar expenditures were actually made in the creation of the property under con- sideration.” Am. Soc. C. E. Committee, Contingencies. — “In making an estimate of the cost of a projected undertaking, the ex- perienced engineer adopts a policy of liberality with the inten- tion of reaching the probable actual cost of the proposed work, and even under such circumstances the actual cost is as likely to exceed as to run below the estimate. “This policy of liberality includes an addition to the com- 4G

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