Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-03-09

a vast business using il indirectly. It
is necessary for the full utilization
of the land or rolling equipment and
the tide or pulse of its efficiency is felt
throughout the land, and as the water
front terminals are valuable to the
railroad system 30 is the value Of the
floating equipment where no other
means is provided for carrying the
business of the railroad company from
the water terminal TO the opposite
shore.
The floating equipment is operated in
the same general manner as lane ter
minals, there is a broad range of service
for the same charges, the lighterage
limits on the Jersey shore Of the Hud-
son river extends from Fort Lee on the
north to Avenue c. Bergen Point, on the
XIII Won kull OF the south. a minimum
distance of nine miles. The railroad
freight rates include the delivery of
freight to all points within these limits.
1t is the general practise to allow a
fixed rate per ton to the floating equip
ment regardless of freight classified
tions. This allowance IS said 10 be not
sufficient to cover operating expenses
and fixed charges, and the difference is
thrown into the general terminal
charge. Under the conditions Of opera
ton, therefore, We cannot properly di-
yorce the floating equipment from the
general equipment, nor does il appear
reasonable to consider the value of this
floating equipment apart from the dis
tinctiye purpose for which it was de-
signed and is used-namely, the pur-
poses of the particular railroad which
operates the floating equipment in con-
nection with it's terminals.
There is 70 well defined and generally
accepted method OF formula for deter
mining the depreciation of floating
equipment. The factor of improved de-
sign or more efficient machinery does
not apply to river and harbor craft with
the same force as to oc~ean-going ves-
sells. 1t is not likely that ferryboats
will increase their speed, as their present
speed capacity is in excess of possible
use, except for a brief emergency.
Some of the cross-river boats are pow
cred the same as the boats in Twenty
third street service, in order to go into
that service should occasion arise. The
general dimensions of these ferryboats
are practically determined and any ma
terial change in dimensions is not likely
for the reason thai the slips. floats n
ferry-houses are designed to accommo-
date boats OF the dimensions now in use
ana any material change in such di-
mansions would necessitate changes in
the slips.
The possible abandonment of ferry
service for tunnels or bridges cannot be
assumed at this time. and, indeed, it is
unlikely that there may be an increase
of revenue of ferryboats because of In
creased team freight, as the passenger
| traffic is detected to the tunnels. So
far, then. as ferryboats are concerned
there is no considerable depreciation
chargeable to obsolescence. The up
keep is generally good and the frequent
paintine of the null and su~perstructure
| defends to a large degree against the
wearing effect of the elements.
In the case of tugboats the necessity
of considering the obsolescence OF ma
fchinery, boilers, etc, is more apparent
| and vet there is no unusual change in
design of power during many years
past. Economies of developing power
are gradual and in manyscases fall IN
the item of maintenance, and for some
/ wears the engines are improved by
operation, and any defective parts due
to material or design are replaced.
| There is no strain due to buffeting OF
the sea. The boilers in many OF the
second boats are older than ten years,
and no renewals are considered, and
when such renewal is made it is gem
orally a superior boiler charged "
maintenance or addition.
CO... J.-t@o,1 h xvn thn E0htaCr SpF-
vice. as they are moored to the piers
while the cargo is placed, then make a
short trip. probably not averaging
three miles, then tie up to pier until
cargo is unloaded and possibly a return
load taken. The strain on the boilers,
however, may be greater than on ferry
boats, for the reason that regular steam
pressure is not maintained.
The car-loats are subjected to con-
| siderable strains and the depreciation
on this account, especially in the case
of wood hulls, is considerably more
than from decay. In the case of steel
barges. however, the life is somewhat
equal to the hull of steam or sailing
vessels in harbor waters, and percent
age of scrap value to the original value
is much larger than in any other form
of equipment.
No Depreciation.
The reports of the Pennsylvania Rail-
road Company for 1906, 1907 and 1908 dc
not show that any depreciation is made
in the asset account of floating equip
ment. No doubt a considerable sum Is
! charged each year to operation under
the title of depreciation. in order to
provide a fund to keep the equipment
up-to-date. On the other hand, the
asset account is not credited with new
equipment. and it seems to be the
theory that the up-keep takes care OF
the depreciation. and. therefore, no
| change is made in the asset account SO
far as the published statement is on
cerned.
The book accounts of the custodian
Sc 49, -~onnrt.r xroriaS from the annual