. Electric railway journal . s much more thanits replacement value. As an example he quoted the caseof the old national road, which first required the fellingof the timber, then draining, then was a corduroy road,then was a plank road, then became a macadam roadand finally was a concrete road. It would be improperto say that the cost of that road was simply the cost oflaying the concrete. Walter A. Draper, Cincinnati Traction Company, saidthat any service-at-cost plan should consider the itemof control in addition to that of valuation and the rate ofreturn. It is not enough to decide merely wh
. Electric railway journal . s much more thanits replacement value. As an example he quoted the caseof the old national road, which first required the fellingof the timber, then draining, then was a corduroy road,then was a plank road, then became a macadam roadand finally was a concrete road. It would be improperto say that the cost of that road was simply the cost oflaying the concrete. Walter A. Draper, Cincinnati Traction Company, saidthat any service-at-cost plan should consider the itemof control in addition to that of valuation and the rate ofreturn. It is not enough to decide merely what the pub-lic utilities should receive but it is necessary also todecide what is to be given to the public. No publicutility corporation can work out its salvation accordingto any one cut-and-dried plan, but each individual lo-cality must work out its own problems according to theconditions encountered. Mr. Draper stated that from his experience he hadfound that the further one can get away from local con- Other Speakers i1. L. M. Garrison trol the better and easier it is to accomplish beneficialresults. If it is possible to secure satisfactory actionfrom state or federal bodies this appears to work outbetter than from bodies nearer at home. The great ob-ject of any service-at-cost plan is to get an adequate re-turn for the service which railways provide and forwhat they are expected to furnish. Randall Morgan, United Gas Improvement Companyof Philadelphia, said that he came to this meeting tolisten rather than to give advice, for it is at meetingssuch as this that all must obtain their instruction andgather facts to aid in carrying out their work. Rail-ways are public servants and the law provides that theyshall give service which is efficient, continuous and of thehighest character. It is for this that public regulationwas instituted. When these regulating bodies were firstestablished there appeared to be a feeling of irritationon the part of those coming under their control
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