Show VALUING OF U U. S. S RAILROADS SLOW AND COSTLY TASK WASHINGTON Dec e 5 By AI A A. I Completion P.-Completion Completion of ot the groundwork of valuing Americas America's railroads I whIch which the interstate interstate commerce commission has hag been carrying on since 1914 is not yet jet et in sight When the work will be bro brought up to date officials point out de depends depends depends de- de largely upon when congress makes the necessary funds availAble avail avail- Able ble So far tar the commission has hag spent some In the task of primary valuation and the expense expense ex ex- X I pense to the railroads themselves themselves- has been heavy Primary valuation which forms forma I Ithe the basis for the commission to de determine determine de- de I de-I termine a railroads railroad's present day I worth is now 90 per cent completed completed com com- pIe ted with respect to making up the original reports These reports com I are aie reviewed and corrected This This- latter work Is now 60 per cent completed After Arter the tentative valuation reports are served on a I. I I railroad it may file me exceptions to the commissions commission's figures and be given a hearing The commissioners commission commission- I ers determine both tentative and final valuation If If a I. I road accepts I I the tentative valuation valuation lo hearing Is necessary I After Attel completion of ol the primary valuation figures for tor the country's railroads the commissions commission's s officials I say the Work of of valuation will still go on Ks is s railroads are continually con con- adding equipment improvIng improving improving ing property and being subject ct to changes in their financial affairs These figures must be kept current current cur cur- ren rent t as a basis basis' for rate fixing Senator La 1 toilette Follette Is the father of the valuation act under which I the commission Is proceeding to fix fig the value of American railroads I |