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- W106397986 abstract "Mr. Edward Wegmann: This paper is an excellent one. While most of the facts are known to people who have studied the subject, it would be very interesting if there were a bibliography of all the articles that have been written on the subject of valuation. Recently the speaker had occasion to make a valuation of six water plants that the city of New York is about to acquire, and the rule given by the corporation counsel was to find the reproduction value minus depreciation. In doing this it was not a question of one man's opinion, but the superintendents of at least five of these companies carefully went into the matter and gave their ideas. The object was to get a valuation that was not the opinion of either party, but would give the Board of Estimate and Apportionment an idea of how much it would have to pay for these water plants. Of course the original and present cost is easily found by the correspondence, but the difficult thing is to find the depreciation, and this is a matter that no living person can accurately tell. It is simply a matter of opinion and judgment. Take the important matter of the life of cast iron pipes, you find in New York City pipes that were laid prior to 1842 that are not coated and yet are in almost as good condition as some of the modern coated pipe. These pipes were made of imported Scotch pig and are 70 years old and still in service. The speaker's first assumption as to the life of pipe was an average of one hundred years. We have pipes along the river front that will not last thirty years. The chief engineer of the Board of Estimate and Apportionment limited the life to seventy-five years; the five superintendents referred to all thought one hundred years was fair; but they all considered that seventy-five years was not a fair assumption." @default.
- W106397986 created "2016-06-24" @default.
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- W106397986 date "2016-01-01" @default.
- W106397986 modified "2023-09-27" @default.
- W106397986 title "DISCUSSION: THE ACQUISITION OF PRIVATE WATER PLANTS BY MUNICIPALITIES" @default.
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