The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1915-04-06
BOND OBJECTS TO VALUATION
PLACED ON BOTH LIGHT PLANTS

Alleging that the public service
commission engineers overestimated
the reproduction valEs and the pres
emit value and moderated depreciation,
City Attorney Will Bond has made up
q bill of. ten objections to the valu-
atoms placed on the city light plant
and the plant of the Light Heat and
Power company.
The valuations are declared to be
unreasonable and unjust and the city
attorney asks that only the property
used in the production Of electricity be
included in making up the valuation;
and that the present value" only. be
considered for rate making purposes
without taking into consideration re-
production cost and similar items.
Accepts Valuation.
The Richmond Light, Heat & Power
company today mailed to the Indiana
Public Utilities Commission brief
accepting the valuations established
on the physical properties Of that CON-
pany and Of the Municipal Electric
Lighting and Power plant.
The Light. Heat & Power company
in its brief, however. requests that in
establishing electric lighting and
power rates for this city cost of or
ganization and legal service, working
capital and going concern value. to-
gether with physical valuation OF
properties, be considered in each in
stance. -, .
In reference to the tentative valua-
ton of the physical property OF the
Richmond Light, Heat & Power COM
pany no substantial objections are
made to the same in the aggregate
valuations" read the brief The COM
pany reserves the right, however, to
make corrections Of various calcula-
lions of the commission engineers II
any mistakes are found.
" The section accepting the aggregate
valuations established for the. city
plant is worded practically the same.
F: - Text OF Bill. : r..
e. The ELECTIONS TOR both plants are
practically the same. The one to be
filed In the case of the Light, Heat
and Power company by the city. fol-
lows: +.-'
FIRsT.-That all the property list
ed under final summary" A-Land,
on page !, and classified under "gen-
eral summary" as Al. Power Sta.
ton Land" is appraised too high and
in excess Of the value OF the cost OF
reproduction and more than its pres.
ent value. 1850. ...
sECOND-That all the property
listed under final summary" B,
Transmission and Distribution" on
page l, and classified under general
summary" as B-1 and 2, Trans.
mission and Distribution System,
B-3, Transformers" B-4, Motors "
and BIS, Commercial Lamps and
Lamp Equipment" is appraised at an
excessive value Of cost of reproduction
and more than the present value
thereof for each separate classified
ton and for each article included
therein, and the percentage of deprec.
iation is too small based Upon the
cost Of reproduction.
Valuation Excessive.
THIRD.-That all the property and
each separate article thereof named
and listed under Final summary,
C, Buildings and Miscellaneous
Structures" and classified under "gen
eral summary" CT, Power Plant
Buildings" C-3, General Office
Buildings" and CO, miscellaneous
|
its value for cost of reproduction ant
greatly in excess Of its present value
and the percentage of depreciation al
set forth Is too small based upon thu
cost of reproduction.
FOURTH.-That all the propert!
and each separate article there o
named and listed under final sum
mary, D, PLANT Equipment" and class
| In
Steam Power Plant Equipment" D.
Boiler Plant Equipment" is appraised
greatly in excess of its present value
and that the percentage Of deprecia
ton is too small based upon the cos
of reproduction. ......
Further Objections.
'FIFTH.--That all the property an
each separate article thereof as names
and listed in final summary, E. "Ger
eral Equipment. and classified in ger
eral summary. Ell, utility Equiv
ment," E-2. General Office .Eauir
ment," E-3. shop Equipment e.
Miscellaneous Equipment" is az
praised at more than its true valu
for cost of reproduction and greatly /
excess Of it's present value. and tina
the percentage Of depreciation is to
? small based upon the cost OF repro
duction.
'SIXTH-That all of the propert
and each article thereof as named an
! listed in final summary" H, Mate
ials and Supplies" and classified i
+ general summary" HI, "Electri
, al Supplies" H-2, Power Plant SUI
!. plies" H-3, General Office SUI
, plies" H-4. Fuel" and H-5. mi
, cellaneous Supplies" is appraised {
. more than its true value for cost {
reproduction and greatly in excess {
it's present value, and that the percen
v age of depreciation is too small base
! upon the cost OF reproduction.
Sees Other Excuses.
SEVENTH.-That the twelve (12%
per cent. added to cover engineering
superintendent, interest during CO..
struction, contingencies, ETC., amour
Ing to $22,531.00. cost Of reproductio
! and $15,95S.OO. present value, as show
upon said tentative valuation, is g.
cessive, unreasonable, unjust, unlav
full and oppressive to consumers fl
t rate making purposes, and inequitabl
: and should not be considered nor r
earded as any part of the value Of sal