Discussion on “inventories and appraisals of properties” (Cory-Vincent-Norton). San Francisco, Cal., Sept. 16, 1915. (see proceedings for September, 1915)

Overhead Charges Philander Betts (by letter): In making up the valuation of public service properties, it is customary in many cases to appraise the property by using unit prices which represent the basic cost to the company doing the work and then after the appraisal is completed on this basis, to make additional allowances to cover such items as engineering, interest during construction, taxes, damages and insurance during construction and such other items as are not ordinarily allowed for in making up the unit cost price.