═══════════════════════════╤═════════╤═══════════╤═══════════╤═════════ Location. │ Size of │ Michigan │ Pere │ Actual │ lots. │ Central │ Marquette │transfer. │ │appraisal. │appraisal. │ ───────────────────────────┼─────────┼───────────┼───────────┼───────── │ ft. deep│per sq. ft.│per sq. ft.│ Fulton to Island Street │50 by 100│ │ $2.00│ $1.40 Island to Oakes Street │50 by 100│ │ 2.00│ 1.22 Oakes to Cherry Street │ │ │ 2.00│ 1.33 Cherry Street Frontage │130 deep │ $1.23│ 1.23│ Cherry to Williams Street │50 by 130│ │ │ 1.55 Williams Street Frontage │130 deep │ 0.92│ 0.54│ Williams to Bartlett Street│ │ │ │ 0.76 Bartlett Street Frontage │130 deep │ 0.77│ 0.46│ Bartlett to Goodrich Street│ │ │ │ 0.625 Goodrich Street Frontage │130 deep │ 0.62│ 0.38│ Goodrich Street to │ │ │ │ 0.395 Wealthy Avenue │ │ │ │ Prescott to First Street │ │ 0.25│ │ 0.54 First to Second Street │ │ 0.25│ │ 0.16 │ │ per acre.│ per acre.│ Land on Hall Street │ │ 1,500│ 1,359│ 3.75 North side of Hall Street │ │ │ 1,000│per acre. Hall to Stevens Street │ │ 1,500│ 800│ 1,351.11 On Crofton Street │ │ 400│ │ 400.00 ═══════════════════════════╧═════════╧═══════════╧═══════════╧═════════ The problem of an appraiser is to determine, with the best evidence at hand, what land is fairly worth for railroad purposes at the time of appraisal. He must take into account the railway-purpose increment, if he is consistent in his appraisal. Non-Physical Values. The foregoing narrative account of the general field and office handling of the Michigan appraisal of physical property, while not touching on matters of principle of valuation, except as to land values, is submitted as describing briefly the machinery of the appraisal. A number of very important issues were raised which have to do with the theory of valuation. These are worthy of discussion at length, in the subsequent consideration of the method of determination of a fair value, but are not here referred to. Within any short limits it is impossible to give a comprehensive description in detail of all the work of the Michigan appraisal. Several articles descriptive of this work have been written, giving quite full extracts from the various sets of rules which were promulgated, and describing some phases of the work in much more detail than is here attempted.