226 VALUATION, DEPRECIATION AND THE RATE-BASE
For the irrigation plants in the Santa Clara Valley Mr. Ander-
son develops values ranging from $31,442 to $67,724 per million
gallons of daily supply from gravity systems, over periods up
to a maximum of 115 days per annum; and $167,709 to $242,786
for pumping systems.
He also finds that the original cost to the Spring Valley
Water Company of acquiring water-rights on both sides of San
Francisco bay (about 1865 to 1913) averaged nearly $38,000
per million gallons per day, of water delivered to the inhabitants
of San Francisco on the date of valuation, Dec. 31, 1913. By a
different analysis and with some allowance for uncertainties Mr.
Chas. H. Lee testifying in the same case finds this cost to have
been about $48,000 per million gallons per day.
Mr. F. C. Herrmann calls attention to the purchase by the
Pacific Gas and Electric Company from the Livermore Water
and Power Company of rights to about one million gallons of
water per day at about $100,000 in 1913. The water-rights
involved in this transaction are for the Mocho and Positas
Creeks near Livermore, Cal.
He also refers to a number of sales of springs and wells with
small yield and to the following sales in southern portions of
California:
In condemnation proceedings by the City of Sierra Madre the
value of water for domestic use was placed by the court
at $270,760 per million gallons per day.
Near Alhambra, in 1892, Richard Garvey bought from De
Barth Shorb about 390,000 gallons of water per day at
$64,595 per million gallons per day.
At Montecito, Mr. Knapp bought 12,900 gallons of water per
day a one-third right in the Warm Springs tunnel, "at
$386,000 per million gallons per day.
The value of water fixed by the California Railroad Commis-
sion in the Glendale case, in addition to the allowance
for structures was $154,720 per million gallons per day.
While each specific instance of a sale of water-rights, as cited
by Mr. Herrmann, should be considered in the light of all cir-
