Leadership

WATER WORKS AWARDS AND VALUES

Issue 13 and Volume 78.

WATER WORKS AWARDS AND VALUES Seventeenth of a Series of Articles on the Subject—State Valuations—Taking Racine Water Works—Values in Virginia STATE VALUATIONS (Continued) Taking Racine Water Works (Continued) Newport News Value, In 1922 July 21, 1922, the city of Newport News petitioned the Corporation Commission of Virginia for a reduction of water rates, and the company pleaded that its rates were then too low to yield a reasonable return on the fair value of its property. The rates thus involved were those that had been put into effect in 1920, as above stated. After hearing testimony and considering the values indicated below, the commission concluded that the rates of 1920 should be reduced slightly less than 10 per cent, in its opinion of March 31, 1923. The water works at Newport News was built in 1892, and began operation in November of that year. Water was obtained from springs by…

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