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Show I1C. PLACES -FINAL VALUE ON SAN PEDRO Federal Commiggion Finally Fin-ally Disposes of Contested Contest-ed Case; Sum of $45,-000,000 $45,-000,000 Fixed for Road WASHIS'OTON. Sept. 11. After many months of Investigation the Interstate commerce commission today to-day finally disposed of the first two contested cases to come before It under ths law authorising It to tlx I a physical valuation for railroads aa ! a basis for rata making. j "Pinal single sum values of $41.- 000.000 for ths San Pedro. Los An- ! geles 8aJt Uika Railroad com- pany were fixed by the two decisions deci-sions ss a result of extended hear- I Ings and examination Into protests which had been filed against the. valuations previously announced for' the two linee. Home time ago a formal value- j tion finding had been returned on ' the property of the Bvanavllle ; Indianapolis railroad, but no protest waa filed by thaycompany and the: finding waa made final without further proceeding. The finding with regard to the Atlanta, Birmingham Atlantic is regarded as having established a; precedent for further valuation da- clstons, which are to be announced , by ths commission Intermittently In the near future. The Atlanta line le a property, aoeerdlng to the commission, that haa been a cnn- elatent loser, yet It eras held that I us valuation couia noi oe DUffq upon a consideration of the "Junk worth," inaamuch as the property was rendering a dletlnct service to the territory traversed. CLAIMS PP.ISf.NTeO. Tbe Atlanta, Birmingham a At-lantio At-lantio had contended that the original origi-nal coet and development of Its properties snd Its working capital would cost not leea than tlt.0O0.000 to reproduce. A claim of I7t.000.000 waa made by ths San Pedro line aa the value of tta property as a going concern. j The commission declared, bow-! ever, that In the determination of a! value for rate making purposes, -we : are not limited and cannot be con - j lined to a mere formula." I "The final alngle sum value ; which we havo ascertained for the property of the carriers." the decl-i slo nsaid. "is based upon a careful -conelderatlon of all of the relevant ' facta that havo corns to our alien-! tion. It la our Judgment a value ' which we are authorised by the' valuation act to ascerteln and re- port s . It la ths fair value of ! the property, which the carrier holds' for and usee In the service of trans-1 portation and upon which It la aa-1 titled to earn a fair retsra." I In the cases of both the Atlanta, road and the San Pedro road the figure finally fixed was the same as i the tentative valuation announced , some tims ago. the protests filed being overruled completely. STOCK DEDUCTED. ' The finding In the San Pedro caee declared that about 25.0 000 In capital stock delivered to K. If. Hsr-riman Hsr-riman and William A. Clark should be deducted from the vaJue of the carrier's stated lnveetment account. I - The commission reviewed at lengin. the methods by which Messrs. Har- . Irlman and Clark obtained the stock, adding that It waa -proper under : ell rtrcumstaneee" to eliminate the I2t.000.000 from the Investment of j road equipment. i In both eases the commission differentiated dif-ferentiated between the property i actually used In tho service of the public and that not so used. Thej value of the latter wee deducted S from the total on which final single f sum value was to bo flsed as tit' rate making basis. It subtracted j from ths total tho value of coneld- I 'erable land an abandoned prop-1 erty. declaring that auch value could not properly bo charged In as an In- , veetment under actual transportation transporta-tion requirement e. I Frequent reference was made by the commission to the msthods employed em-ployed In the tentative vsluatlon of j the Texas Midland, and It waa de-I de-I dared that no evidence had been ' produced In the two casea which ; I compelled a reutenent or a re-, 1 vamping of those methods. |