The Valuation of Public Service Corporation Property: Transactions of the American Society of Civil Engineers,; vol. LXXII, June, 1911, ASCE 1190Riggs, Henry Earle
General
The Valuation of Public Service Corporation Property: Transactions of the American Society of Civil Engineers,; vol. LXXII, June, 1911, ASCE 1190
The work consisted of making a compilation from records, or from actual
surveys when necessary, of about 625 miles of railway property,
including several important terminals. The property had been built
between 1860 and 1901, mostly in the early part of this period. The
portions which had been constructed during the latter part of the
period, say from 1890 to 1906, presented no difficulties, as the records
were very clear and complete, but the portions constructed in the
Sixties had practically no records. Some had been built by small
independent companies, which were acquired later by the Northwestern
System. On these old lines the records were practically nil, and those
in existence were soon found to be of absolutely no use. Even on the
newer lines it was found that many changes had been made within a few
years after their construction, and that it was sometimes more
economical, as regards time at least, to make a new survey of the
property than to use the records.
After examining all the old records very thoroughly, and endeavoring to
get some order and information out of them, it was decided that the only
way to do the work properly was to make a complete survey and valuation
of all the physical property. Several field parties were organized and
also an office force, about twenty men being put on the work. The
parties ran levels for profile purposes, cross-sectioned cuts where
necessary, noted evidences of clearing and grubbing, of the character of
the cuts, and the disposal of the material, examined the ballast for
depth and character, examined the rails for age, weight, and condition,
and noted the kind and condition of the fences, gates, farm crossings,
planking, whistle and highway-crossing posts, culverts, bridges, and in
fact every detail of construction. Advantage was also taken of the
survey to re-station the lines, to paint such stations on the rails, and
to set permanent posts, so that afterward the stationing could be picked
up at any time with little trouble.
In this way there was accomplished much work of value to the railway
company, for which there had been a demand by the division officials for
years, but which had not been done because of lack of men and money.
Public-domain text, read in full here on John Shaqi.
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