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EXPLANATORY TEXT R ep ro d u ctio n c o s t s have been e stim a te d by tre n d in g o r i g i n a l c o s t in p la c e a t d a te i n s t a l l e d to the av erag e p r ic e l e v e l f o r th e th re e y e a r p e r io d 191*8 to 19 5 0 . P ric e tr e n d s a re d ev elo p ed by u sin g th e r a t i o s ag reed to by j o i n t com m ittees c o n s is t in g o f r e p r e s e n t a t iv e s o f th e Western C a r r ie r s and th e Bureau o f V a lu a tio n , I n t e r s t a t e Commerce Com m ission. These r a t i o s f o r b u ild in g s and ap pu rten an t f a c i l i t i e s (in c lu d in g w e l l s , p ip e l i n e s , e t c . ) are d ev elo p ed each y e a r and a jo i n t r e p o r t is s u e d showing th e r e l a t i o n o f c o n str u c tio n c o s t s f o r th a t y e a r f o r r a i l r o a d s in W estern Group t e r r i t o r y to re p ro d u c tio n new c o s t s on s i m i l a r ite m s a t th e av erage p r ic e l e v e l f o r th e f i v e y e a r p e rio d 1910 to 191^. These r a t i o s have n ot y e t been d evelo p ed f o r th e y e a r 1950 and r a t i o s f o r t h i s y e a r have been tak en to be th e same a s f o r 19U9. To i l l u s t r a t e , the e stim a te d p r e s e n t re p ro d u c tio n c o s t o f a w rought ir o n p ip e l i n e c o n stru c te d in 1 9 k2 a t a c o s t o f $ 1 ,0 6 1 .0 7 i s d ev elo p ed a s f o llo w s : R a tio s f o r wrought ir o n p ip e l i n e s : Y ear I& Jg 270 Y ear 19^9 - 270 Y ear 1 9 5 0 (e st) 270 3 y e a r av erage 270 Y ear 19k2 190 E stim a te d c o s t o f re p ro d u c tio n new: $1 , 0 6 1.0 7 X 270 « $ 1,5 0 8 190 D e p r e c ia tio n : D e p re c ia tio n f o r th e d i f f e r e n t c l a s s e s o f p r o p e rty from d a te i n s t a l l e d to p r e s e n t d a te h a s been computed a t th e r a t e s allow ed by th e B ureau o f I n t e r n a l Revenue f o r income t a x p u r p o se s. No p ro p e rty was d e p r e c ia te d below 25$ . O ffic e o f G en eral Manager o f P r o p e r tie s Omaha, N ebraska F ebru ary IJ4, 1951