Description

The Valuation of Public Service Corporation Property is a comprehensive treatise originally published in the Transactions of the American Society of Civil Engineers, Volume LXXII, June 1911 (ASCE 1190). This seminal work delves into the complex methodologies and principles underlying the appraisal and valuation of properties owned by public service corporations, such as utilities and transportation companies. Drawing on the expertise of leading civil engineers and industry professionals of the early 20th century, the book explores the legal, financial, and engineering aspects of property valuation, addressing issues such as fair value, depreciation, reproduction cost, and the impact of regulation on asset assessment. The text provides detailed discussions on the historical evolution of valuation practices, the role of public commissions, and the importance of accurate appraisals in rate-setting and public policy. It examines case studies and real-world examples, illustrating the challenges faced by engineers and appraisers in balancing the interests of corporations, investors, and the public. The book also covers technical topics such as the classification of property, methods for estimating physical and functional depreciation, and the use of engineering surveys and inventories in the valuation process. Rich in technical detail and historical context, The Valuation of Public Service Corporation Property serves as both a practical guide and a scholarly reference for engineers, economists, legal professionals, and policymakers involved in public utility regulation and infrastructure development. Its insights remain relevant for understanding the foundational principles of utility valuation and the ongoing debates surrounding public service corporation property assessment.