IN: .X 
Unlimited life, method of procedure, | Value, definition of fair value, 17. 
advantages, 191. definition of going value, 27. 
always applicable, 122. definition of going concern value, 27. 
obligation to replace, 188. definition of intangible value, 26. 
of public service property, 35. definition of market value, 16. 
(see Life). definition of remaining value, 20. 
Unprofitable expenditures, 9. definition of remaining service value, 
Unused property (see Property retired 26. 
from use), 4, 8o, 81. definition of residual value, 20. 
United States Supreme Court (see Court definition of wearing or service value, 
cases). 2s, 
determination, for capitalization, 139. 
Vv determination, for taxation, 138. 
Valuation, details of, 40. discussed by Wisconsin Railroad 
Equal Annual Payment Method Commission, 159. 
applied, 165. earnings as basis of, 150. 
limitations on accuracy in case of elements, 124. 
mines, 237. essentials, 38. 
methods applied to mines, 238. fair value as rate-base, 14. 
method applied to oil property, 255. improper use of term, 134. 
of mines for owner’s information, 246. in relation to investment, 35. 
of mines for purchase or sale, 124, 245. investment should be less than value 
of mines for taxation purposes, 247. due to earnings, 35. 
of mines for taxation in various locali- intangible (see Intangible value), 26. 
ties, 248. irrigation water, 208. 
purchase or sale, 11, 124. Knoxville case, a basis for rate-fixing, 
purposes of, 123. 134. 
in the case of mineral properties, 237. lessening of worth, 79. 
Sinking Fund Method applied, 164. Minnesota Rate cases, definition, 135. 
Straight Line Method applied, 165. fair value as the starting point, 18. 
tabulation of field results, 194. the value multiple, 205. 
Unlimited Life Method, 166. multiple in the case of real estate for 
Value, admissible for special purpose as special uses, 203, 205, 207, 220. 
evidence, 200. net earnings as basis, 150. 
affected by earnings, 38. of real estate, 126. 
as basis for rates, 12. in eminent domain proceedings, 
as basis for rates, discussed in Willcox 197. 
vs. Consolidated Gas Company, present, affected by expectancy, 105. 
19. as starting point according to 
cost of physical elements as related courts, 18, 10. 
to, 38, 39. as starting point in Willcox 2s. Con- 
company entitled to fair return, solidated Gas Company of New 
Smyth vs. Ames, 18. York, 10. 
deductions, 79. not desirable as starting point in 
definition, 16. fixing rates, 12. 
definition, in Minnesota Rate cases, remaining service, definition, 26. 
T strategic, a part of owner’s reward, 36. 
“DEX 499 
.35.