Annual Message, transmitted to the Legislature January 3, 1923,
495.
Fuel Administration, Message of the Governor recommending the
creating of a single headed fuel administration with adequate
power to supervise, regulate and control the distribution, use,
sale and price of all fuel, 113.
PUBLIC SERVICE COMMISSION
Adirondack Power and Light Corporation, In the matter of the
petition of, under sections 71 and 72, Public Service Commission
Law, asking this commission to fix higher prices to be charged
by it for gas in the city of Saratoga Springs. (Case No. 243),
599.
Gas companies
Rate
base. In determining the investment which actually expended
represents the base upon which return is to be allowed,
the Commission in this State has been inclined to favor the
cost of the properties when it could be shown by actual figures
or estimated with a correction up or down for reproduction
cost of items in certain cases, particularly land, and without
committing itself to the reproduction cost new estimates of
the war period, fluctuating from month to month and almost
from one day to another, as to which some engineer or expert
witness may have given his opinion. (Pp. 603, 604.)
Depreciation. While the company's property is depreciated
by age, character and condition, it is nevertheless sufficient for
the requirements of the community. For the extra burden
of upkeep of such a property as this, the present consumer
must necessarily pay, but there is no justification in making
the present consumer also pay a return on the value for service
of new property, where no such value for service really exists.
(Pp. 609, 610.)
Value of the property fixed with recognition of pre-war cost
increased so far as to regard what seem to be reasonably
permanent present-day prices of such properties constructed
under existing conditions and including overhead costs, which
are reasonable and necessary to be incurred, together with a
provision for organization covering what may be said to be
preliminary to putting up the plant. (Pp. 611, 612.)