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 law provided no requirement that the companies should furnish any
information. In order to secure the data, it would have been necessary
to employ a large number of men, and this would have been such a serious
expense to the companies that refusal to comply would probably have
followed such a request. Many of the companies had no men in their
service able to prepare the required data; and, finally, eight or ten
men after having worked in the files of companies owning reasonably full
records, were much better able to take off the desired data
intelligently from the records of other companies than men unfamiliar
with the needs of the appraiser and with no prior experience. Then, too,
the work secured was that of one body of technical men, all experienced
in different phases of railway work, and thus was uniform and
consistent. Had seventy-five or eighty different men or sets of men
prepared these inventories, there would certainly have been a great
variation in their worth and reliability.
It must be kept clearly in mind that lack of time was the main feature
which kept the appraiser from considering any such plan of co-operation
with the railroads as was adopted later in Wisconsin and Minnesota, and
that no distrust of the railroads, or lack of desire to co-operate, had
anything to do with the appraiser's decision to use the method which was
adopted.
Shortly after the preparation of the blanks, access was granted to the
records of the Ann Arbor Railroad, and almost immediately thereafter
several other companies opened their files to the appraiser; the State
Board of Auditors determined to pay the bills, as approved by the
appraiser; and the initial difficulties were so far removed that it was
possible to carry out, without any further delays, the plan of
organization which had been perfected.
The personnel of the staff was considered to be of the greatest
importance, and, in the selection of men, the requirements desired were:
experience in the construction and operation of railroads, thorough
technical training, high standing in the Profession, as shown by
membership in the American Societies of Civil or Mechanical Engineers,
or of other Societies of high standing, and high moral character.
Politics, residence in the State, or local influence, had absolutely no
weight in the selection of any of the men. In a number of cases men were
secured who had for some years occupied the position of Chief Engineer
of important lines. In a very large number of cases men who were engaged
on this work have since its completion held the position of Chief or
Principal Assistant Engineer of important railroads, and practically all
of them returned to railway service. Dozens of these men are well known,
and their work deserves that full credit should be given to each, but it
is impossible to do so within the limits of this paper.
Public-domain text, read in full here on John Shaqi.
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