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Railroad Valuation by the Interstate Commerce Commission

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  • Homer B. Vanderblue

Abstract

Introduction: Progress of the Interstate Commerce Commission Valuations, 22. — I. The Commission's Reproduction Hypothesis, 25. — The reproduction program, 26. — Topographical conditions, 31. — Contingencies, 34. — II. Cost of Reproduction, 37. — Organization of the work, 39. — Basis of the inventory, 40. — Estimates and errors, 41. — Unit prices, 44. — Commission procedure, 47. — Expert testimony, 47. — "Overhead charges," 48. — Interest during construction, 52. — III. Depreciation, 54. — Second hand materials, 55. — Obsolescence or "functional depreciation," 55. — Observation and estimate, 57. — Deferred maintenance as depreciation, 60. — Capacity for service, 62. — Maintenance as investment, 64. — IV. Land, 67. — Present value of land, 68. — Commission procedure, 69. — Texas Midland controversy, 70. — Land valuation and condemnation practice, 75. — Hypothetical cost of reacquiring land, 78. — Minnesota Rate cases on land valuation, 79. — "Railway value," 81. — Value and cost, 83. — The unearned increment, earnings and value, 85.

Suggested Citation

  • Homer B. Vanderblue, 1919. "Railroad Valuation by the Interstate Commerce Commission," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 34(1), pages 22-87.
    • Handle: RePEc:oup:qjecon:v:34:y:1919:i:1:p:22-87.
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    File URL: http://hdl.handle.net/10.2307/1884488
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