The Washington times., 1915-04-05
Country's RailwayMen
To Hold Big Confab
Engineering Real Estate, and Other Technical Rep
resentatives Will Meet l. c. c. Valuation Dvis-
ion Officials
BY JUDSON C. WELLIVER.

A great array Of typical problems
which must be disposed of In making
the valuation Of American railways, will
be considered at a conference OF rail-
road officials. Interstate Commerce
authorities and others. beginning April
10 in this city.
The valuation division Of the Inter-
state Commission has arranged the big
gathering, at which the engineering,
real estate, and other technical repre-
sentatives Of the railroads will meet
with the corresponding officials Of the
valuation division.
preparatory to attacking the biggest
systems In the country for purposes Of
valuation, the commission decided to
make surveys and tentative valuations
of a group of railroads representing Diff
ferent sections and circumstances. This
was done in order to develop the various
problems to be met These expert
mental valuations have been made on
the following roads:
Atlanta, Birmingham and Atlantic.
Norfolk and Southern.
Texas Midland.
New Orleans, Texas and Mexico.
Los Angeles. San Pedro and Salt Lake.
Kansas CITY Southern.
EVERY one OF tueSe TOaQS presents q
set of problems all its own; yet
throughout the whole national system
these problems are complicated in end
less difficulties. The director of valua-
ton Is former Commissioner Charles A.
Prouty, and 1t was he who devised the
scheme Of trying 1t on the dog" with
group Of representative small roads.
In order to learn what rules will work
and what will not; how much generali-
cation can safely be INDUCED In the
direction Of such a task, and. In gem
eral, whether any general theories at
all are worth while.
In Receivers Hands.
Take the case of the Atlanta, Birm-
| ingham and Atlantic road. 1t Is now
in a receivers hands; has about 800
miles Of track: has always been con-
| trolled by local interests in the section
1t serves; part Of 1t Is very old, part
of 1t quite new. Here are some of the
problems its valuation developed
In the construction of one part OF the
| system, a construction company was
| ven a contract to furnish the right OF
construction company induced the peo-
| pie along the line to donate the right
of way lands. but was this donation
to the railroad or to the construction
swered, because an important element
| in the valuation may depend on the
answer. The law requires that all do
nations to the railroad shall be listed.
Here's another hard nut: The law
| requires that all land owned or used in
the transportation operations shall be
! classified as common carrier land. The
Atlanta. Birmingham and Atlantic
| owns an immense amount of very val
liable land in Birmingham never used
for railroad purposes. while at the same
time 1t leased terminal facilities in that
city. 1t maintains that It Is liable at
any time to be ousted from its leased
terminal privileges, therefore 1t must
keep the other land as a safeguard. to
be able to construct its own terminals
II need requires; therefore. 1t protests,
this land may be regarded as common
carrier land. What's the answer? The
bonanza of this little railroad consists
in its undeveloped city property. The