In this year leading up to Arizona's centennial, Feb. 14, 2012, we'll reprint a story or excerpts each day from the Arizona Daily Star or Tucson Citizen archives.
Nov., 16, 1912
It has been agreed by the experts that the physical valuation of the Tucson Gas, Electric Light & Power company is $327,721. This was the decision reached by the men who have been at work on the matter and who gathered in Phoenix several days ago to compare figures and estimates before making their report to the corporation commission.
This does not mean that the plant is worth but $327,721, for it is worth considerable more than that. The establishment of the plant, the going value, the value of the establishment is a business concern, and other things must be considered before the actual value of the plant is determined.
This is really the first step in getting at the value of the plant as a basis on which rates can be fixed.
The report from Phoenix says:
The physical property, including real estate, of the Tucson Gas, Electric Light and Power company is worth $327,721.
This was the decision reached by the representatives of the company and of the corporation commission, who have been in consultation several days in the Hotel Adams. A report was prepared yesterday, submitted last night and made public today.
Engineer C. Wellington Koiner of Los Angeles represented the corporation commission, and Engineer F. P. Woy of Albuquerque appeared on behalf of the Tucson company. Mr. Woy and Mr. Koiner had both made valuations of the property, and after an extended consultation, they arrived at a figure, which both sides regarded as equitable.
When Engineer Koiner made his examination of the property, he placed his value at a little less than $327,721, the compromise value agreed upon. He did not know, however, that the company owned all the electric street signs in Tucson and some motors that were used by private parties.
The Sundt Cos., O'Rielly Chevrolet, Research Corp. for Science Advancement, the University of Arizona, Freeport McMoRan Copper & Gold Inc., Rosemont Copper, Tucson Realty & Trust. Co., Jack Furrier Tire & Auto Care, Walgreens and Carondelet Health Network are sponsors of the Star's Arizona Centennial project.