V. Cost. Facts and estimates, 261. — Commission procedure, 262. — Renewals and costs, 263. — Appreciation, 266. — Original cost determined by appraisal, 269. — Facts and estimates once more, 270. — VI. Intangibles. Commission doctrine, 271. — Franchise value, 272. — Going value and strategic value, 273. — Wisconsin deficit theory, 276. — VII. Final value, 277. — Confiscation and condemnation, 277. — Exchange value, 278. — Capitalization of earnings, 280. — The general rate structure, 283. — The reasonable return as a variable, 284. — The appeal to authority, 288. — Cost of reproduction as a basic fact, 289. — Land once more, 290. — Cost of reproduction and investment, 293. — The rule in Smyth v. Ames, 297. — The Commission and "final value, " 298.

Introduction: Progress of the Interstate Commerce Commission Valuations, 22. — I. The Commission's Reproduction Hypothesis, 25. — The reproduction program, 26. — Topographical conditions, 31. — Contingencies, 34. — II. Cost of Reproduction, 37. — Organization of the work, 39. — Basis of the inventory, 40. — Estimates and errors, 41. — Unit prices, 44. — Commission procedure, 47. — Expert testimony, 47. — "Overhead charges, " 48. — Interest during construction, 52. — III. Depreciation, 54. — Second hand materials, 55. — Obsolescence or "functional depreciation, " 55. — Observation and estimate, 57. — Deferred maintenance as depreciation, 60. — Capacity for service, 62. — Maintenance as investment, 64. — IV. Land, 67. — Present value of land, 68. — Commission procedure, 69. — Texas Midland controversy, 70. — Land valuation and condemnation practice, 75. — Hypothetical cost of reacquiring land, 78. — Minnesota Rate cases on land valuation, 79. — "Railway value, " 81. — Value and cost, 83. — The unearned increment, earnings and value, 85.

Kenneth F. Burgess, Homer B. Vanderblue; A Correction, The Quarterly Journal of Economics, Volume 40, Issue 2, 1 February 1926, Pages 346–347, https://doi.