. PREFACE 
rates for an output or for a service to establish. Careful at- 
tention has been given to the fundamental principles which 
should control when appraisals of public utilities are made for 
rate-fixing purposes and their practical application is explained. 
The tables which are presented in this volume are intended 
to meet the needs of valuation engineers, but will also be found 
useful by any one having problems of finance and bonding to 
solve. They are based throughout on original calculations. 
Those relating to replacement requirements and to expectancy 
are of a novel type not to be found elsewhere. Special care has 
been taken to secure accuracy and convenient arrangement. 
Acknowledgment is due to the office staff of the American 
Engineering Corporation the members of which have assisted 
in the preparation of the tables. 
C. E. GRUNSKY. 
San Francisco, CAL. 
February 1st, 1916. 
In the second thousand of this book there will be found a new 
paragraph on page 31, suggesting the use of the term ‘natural 
rate-base,’”’ and, at the end of the volume, a mathematical demon- 
stration of error when the depreciation of any article is deter- 
mined by ordinary methods. Some minor changes and correc- 
tions of a few typographical errors have also been made. 
C. E. GRUNSKY. 
San Francisco, CAL., 
April 30th, 1918. 
v1] 
Note