Issue 12 and Volume 54.

DISCUSSION GENERAL NEWS ARTICLES Vice-President Martin—Gentlemen, we have listened to a paper of great interest to us upon a subject that opens quite a field for discussion, because it is being recognized that the property of a utility is subject to a different valuation than almost any other class of property, and to us who have money invested in the properties we are managing it appears unfair that we are not entitled to the enhanced value of a property due to the growth of a community and changed conditions consequent upon such growth. A person who has bought a corner lot in a city at an early period in its history frequently sees it jump up by leaps and bounds until it is worth many times its original value; and it is the same way with manufacturing and financial enterprises, the valuations of which increase very largely oftentimes over the…

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