Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-05-02

hundred thousand dollars today actually
cost se92S34.2C and to that should be added
. a third item interest on money BORROWED
during construction. $4,O3S.34. That item
included would make total of s296, S6i
have excluded an aggregate of s44.31;
, from Mr.. Vests tables as not forming a
proper part of the construction cost, and
leave the construction cost at s29G 900 In
round numbers. So then this original cost
less it's wear and tear. If any, and plus on
the other hand the advance in it's worth
as pure matter of physical property
the well known advance in labor and
materials belongs to the owners and may
be not taken from them without being
paid for by those who invoke the arbitrary
strong arm of the law Here then I've
start with cash investment of almost
100000 that has never been taken
out. 1t is to be turned over to
this district and they cannot take
it from us without paying its full
value, lest they violate not only the
constitution of this State and Of the
United States. but the opinion Of this
court which the counsel says is the
charter of their liberties. 1t is not a
charter for their license. Counsel asks
for law. That is law and we abide by
it and we invoke it. | fail to hear the
counsel ask for justice, but we ask for
law and justice because as applied to
the facts of this case they are the same,
SO that we shall leave this court room
whole as the law, as the constitution,
as the court, is justice over all COM
mandS.
l pass now to consider the replace
ment cost. The first and leading item
iof Importance in value is the item of
cast iron pipe. Upon that the counsel
lsingularly claims that the price of cast
iron pipe should be taken on the very
day when we actually are delivering
them the completed plant. Was this
property, or could it be, on the first
day of March, 1904. when it was to be
turned over complete. created instan-
taneously by fiat of counsel? Or does
It like most things require time, prep
laration. organization, purchasing of
materials in season, so that with the
necessary time required to adapt those
finished materials the plant may be
turned over at the contract date? Is II
worth while to discuss a proposition
like that? If you hire carpenter to
build you a building to be complete l
on the first day of March and he
charges you the prices o. materials
bought seasonabIy before so that they
would come into that contract and com .
plete that building by tie date agreed.
is there any criticism you will pass
upon that? We delivered them not
raw materials on the first day OF
March to be bought in the market and
laid on the ground. We delivered to
them. in invttum. completed, perfect
ed plant in full operation on the first
day Of March, and they must allow us
for the replacement cost of materials
purchased and delivered seasonably.
\ question we submit not debatable.
And yet in it there is a difference of
s31 900 of actual value which we today
have, which they will have tomorrow
which is to be taken from us without
one cent of compensation, and they in
woke the law Law does not permit it
justice will not tolerate it, common
sense repudiateS it. Counsel alone is
> left in its support and arrayed against
all three Of these somewhat formidable
antagonists we have added the still SUI
, perior weight of the counsels own
opinion, delivered at an earlier stage OF
this trial. We have therefore adopted
the prices of Mr.. Allen in gross, making
his total of cast iron $167.396. Now
with reference to depreciation, submit
; that fixed by Mr.. Shedd, two per cent
is ample. That applies only to the
first item. On the second item
: valves. checks. etc. ! have adopted
Mr.. Shodd's percentage of depre-
citation. five per cent. l have adopt
ed the highest there. Now as to
cast iron depreciation the best test
of all. is the test of experience. We
brought in samples of every kind OF
pipe here. and there they are today. I'M
injured for every practical purpose and
will remain uninjured so far ahead that
no man can predict it's limit. From
evcry point of view, therefore, we sub
nit the depreciation allowed by Mr.
Shodd is ample, that makes the total
net of the cast iron $163,1S5. Now the
next item is the wrought IRON AS to this
item the gross value adopted by us is
that of Mr.. Allen $13.05S, the gross value
, found by Mr.. Shedd is sl2.19O and that
of the engineers for the district eX-
: ceeds Mr. Allen by $1,000. The average
gross value of the four engineers is
7 s13, 455, and we have adopted the esti-
mate of Mr.. Allen as being at least con-
r servative. We have adopted Mr.. AL
{ lens depreciation as being very liberal
{ adopted it out of ultra caution. The de-
| probation allowed by the district engi-
a3neers is 62 $40 per cent.
, Their theoretic depreciation for Is
:, years of service allows the total life
!, of the pipe only 25 years or only
= Ivcars more. Now we submit that that
: estimate is simply ridiculous, as APP
| piled to your hOnors' own eXamina-
/ ton. Talk about that pipe only re-
o manning in service years more whcr
7 at the end of IS years it exhibits itsei!
2 | as it now does. 1t is pure theory, ant
, comes under what the counsel has wei
$ called the "vagaries'' of an engineer
y 1t is evident therefore that Mr.. Aliens
q depreciation of 80 per cent. for the IS
: years assumes the life of Only about
| 80 yeGrs, and this is very conservative
q and therefore we adopt it. The nel
n value of the wrought iron to b.
lS3.342.Sf.
,, Nov rock excavation Prices vary il