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

where such an appraisal has been at
tempted is the value OF the railroad
property so large, or its variety and
complicated character so great, or the
problems to be dealt with so complex
as in New Jersey.
In the organization of the board the
work to be done was divided into gem
eral classes, each member being made a
committee to deal with those classes Of
property with which his previous train
ing and experience made him most
familiar. The general plan was that
each member should deyote his especial
attention to the work of collecting n
digesting the data relating to the
classes of property assigned TO him, the
results to be submitted to h board for
its final consideration and adjudication.
The work was confined chiefly to one
railroad, the main line of the United
New Jersey Railroad and Canal Com
pany, a part Of the Pennsylvania rail-
road system.
A large part OF the property of this
railroad is concentrated at or near to
it's eastern terminals, while an i'm
portant part of 1t is also concentrated
at Trenton; our work was, therefore,
begun at each end of the line in New
Jersey. So far as was practicable the
members themselves made personal
notes and inventories of property, but
as this was impracticable upon a large
scale, field parties were organized to
inventory and measure up the prop
erty found. The object was to secure
a complete original inventory of all the
railroad property of every character,
together with full notes relating to its
present use and condition. The field
inventories have been practically COM
pleted from the Hudson river to the
Hackensack river, constituting the a
ing district of Jersey City, and through
the taxing districts of the city of Tren-
ton, Hamilton township, Lawrence
township and West Windsor township,
embracing the whole of the main line
through Mercer county. The measur-
ing and inventory of the graduation
and masonry. the bridges, the track
and its ap-purtenances, the docks and
piers, the floating equipment, and the
machinery and tools in shops, was COM
pleted and much other data. relating to
various kinds of property. was collected
and inventoried, through the districts
named. The inventorying and valuing
of the signal apparatus in Jersey City
was completed, and the railroad build
ings In Mercer county were
and inventoried The examination into
land values in Jersey City and Mercer
county was carried on continuously by
the committee having that work in
charge. A large amount of data was
collected, boundaries and areas verified,
tax statistics gathered, and the market
values of adjoining property investi-
gated n collated. The amount of
work lone and of data collected in this
department is voluminous, but it has
been impossible within the time to
thoroughly classify n digest it or to
arrive at final conclusions as to the
value of the railroad lands.
When the field parties had completed
their work on the ground they were
transferred to the Office and began the
worktof collating the information, COM
putting the quantities, and making
tabular statements and inventories of
the various kinds of property and its
conditions, the unit prices n the rates
of depreciation being considered and
fixed by the board. The office work
was somewhat delayed and interfered
with by the leaving of some of our
assistants to accept better or more per-
manent positions. We have. however,
been able to complete the valuation
of graduation and masonry, bridges,
track and ap-purtenances, shop tools
and machinery, and floating equipment
In Jersey City and in Mercer county,
and of the signaling apparatus in Jer-
sey City. Statistics have also been col
lected and a careful study made of the
rolling stock equipment of the Penn
sylvania system in order to determine
the relative value of that used in TINS
State. In addition to the above a con-
siderable amount of data was incl
dentally collected relating to the other
parts of the road and to the other rail-
roads of the State, which will be avail
able for use in case the work should
proceed.
While the valuation of certain parts
of the property is, as stated above,
practically completed, your board is OF
the opinion that it is unwise TO con-
slider the appraisal as final, until the
entire inventory is completed. In the
present state of progress of the work,
confined. as it has been to parts OF a
single railroad, we think it would be
unwise from every point of view to
make public any definit figures. Any
Anal valuation of the railroad property
of the State should obviously be made
in the light of a full understanding and
consideration of that property. not only
in detail, but as a whole Further
more it might be considered unfair to
publish the results relating to a single
road until the appraisal of all can be
submitted.
In conclusion we desire to express
our appreciation and thanks for the
counsel and support we have. received
at your hands: and for the uniform
courtesy extended to this board by the
other officials of the State and by the
officials of the various railroad COM
panies. Respectfully submitted.
s. WINERY.
CHARLES HANSEL,
FRANK STEVENS.
MARINE EQUIPMENT
in NEW JERSEY WATERS.