"Now, what is the property which the district has taken by power of eminent domain? In the first place it is a structure, pure and simple, consisting of pipes, pumps, engines, land rights, and water rights. As a structure, it has value independent of any use, or right to use, where it is, a value probably much less than it cost, unless it can be used where it is, that is, unless there is a right to use it. Nevertheless, it has value as a structure. But, more than this, it is a structure in actual use, a use remunerative to some extent. It has customers, it is actually engaged in business, it is a going concern. The value of the structure is enhanced by the fact that it is used in, and in fact is essential to, a going concern business. We speak sometimes of a going concern value as if it is, or could be, separate and distinct from structure value—so much for structure and so much for going concern. But this is not an accurate statement. The going concern part of it has no existence except as a characteristic of the structure. If no structure, no going concern. If a structure in use, it is a structure whose value is affected by the fact that it is in use. There is only one value. It is the value of the structure as being used. That is all there is of it." The Court then argues that, as the structure is being used under authority and by virtue of franchises, it is more valuable. The franchise, however, is limited; other and competing franchises may be granted; a franchise may exist entirely independent of a structure. He holds that the structure is more valuable with the franchise. "It is a structure in actual use, and with a right on the part of the owner to use it and to charge reasonable rates to customers for services rendered. It is threefold in discussion but it is single in substance." This case is largely taken up with a discussion of the reasonableness of rates which furnish a basis for the estimate of value. There is no specific attempt to describe methods of procedure. That is left to the appraisers. These two Maine Cases, together with a valuable paper[17] thereon by Leonard Metcalf, M. Am. Soc. C. E., constitute an extremely valuable addition to the literature of appraisements. It is clear, from a study of all the cases referred to in this paper, that the Courts have laid down a line of precedent which is equitable and just, that the interests of both public and corporations will be safeguarded, and that the likelihood of any unfair or improper valuations passing the scrutiny of the Supreme Court is but remote. ----- Footnote 17: _Transactions_, Am. Soc. C. E., Vol. LXIV, p. 1. PHYSICAL VALUES AND METHODS FOR THEIR DETERMINATION.