Railroad Valuations: Hearings Before the Committee on Interstate and Foreign Commerce, of the House of Representatives, Sixty-seventh Congress, Second Session, on H.R. 6043. November 15,16, 21, December 13, 14, 15, 16, 1921 |
Common terms and phrases
acquired acquisition of lands acre acreage value adjacent lands adjoining lands aggregate value amendment ascer ascertain the cost basis BENTON bill BRANTLEY BURROUGHS cent CHAIRMAN Class I railroads committee common carrier condemnation and damages Congress consideration considered Constitution cost of acquisition cost of condemnation cost of reproduction decision determined easement entitled estimate evidence excess cost excess of present fact fair return fee simple figure final value fixed GRAHAM hearing HOCH HUDDLESTON included interstate commerce act Interstate Commerce Commission investment judgment judicial Kansas City Southern legislation MAPES market value matter method mile Minnesota Rate NEWTON opinion original cost PLUMB present cost proceedings proper question rail railroad company railroad property Railway reasonable rate referred reproduction cost road rule SANDERS Senate statement statute Supreme Court SWEET tentative valuations thing tion track understand valuation act value of lands
Popular passages
Page 43 - We do not say that there may not be other matters to be regarded in estimating the value of the property.
Page 43 - And in order to ascertain that value, the original cost of construction, the amount expended in permanent improvements, the amount and market value of its bonds and stock, the present as compared with the original cost of construction, the probable earning capacity of the property under particular rates prescribed by statute and the sum required to meet operating expenses, are all matters for consideration, and are to be given such weight as may be just and right in each case.
Page 4 - Assuming that the company is entitled to a reasonable share in the general prosperity of the communities which it serves, and thus to attribute to its property an increase in value, still the increase so allowed, apart from any improvements it may make, can not properly extend beyond the fair average of the normal market value of land in the vicinity having a similar character.
Page 116 - What the company is entitled to ask is a fair return upon the value of that which it employs for the public convenience. On the other hand, what the public is entitled to demand is that no more be exacted from it for the use of a public highway than the services rendered by it are reasonably worth.
Page 86 - ... the making of a just return for the use of the property involves the recognition of its fair value if it be more than its cost. The property is held in private ownership and it is that property, and not the original cost of it, of which the owner may not be deprived without due process of law.
Page 59 - We hold, however, that the basis of all calculations as to the reasonableness of rates to be charged by a corporation maintaining a highway under legislative sanction must be the fair value of the property being used by it for the convenience of the public.
Page 68 - If a corporation cannot maintain such a highway and earn dividends for stockholders, It Is a misfortune for It and them which the constitution does not require to be remedied by Imposing unjust burdens upon the public.
Page 67 - The cost of reproduction method is of service in ascertaining the present value of the plant, when it is reasonably applied and when the cost of reproducing the property may be ascertained with a proper degree of certainty. But it does not justify the acceptance of results which depend upon mere conjecture.
Page 2 - ... ascertained as of the time of dedication to public use, and the present value of the same, and separately the original and present cost of condemnation and damages or of purchase in excess of such original cost or present value.
Page 38 - The company would certainly have no ground of complaint if it were allowed a value for these lands equal to the fair average market value of similar land in the vicinity, without additions by the use of multipliers, or otherwise, to cover hypothetical outlays.