Abstract :
W. E. Caldwell (nonmember; Consolidated Edison Company of New York, Inc.; New York, N. Y.) The paper is a noteworthy contribution and effectively portrays cause and effect in evaluation procedure. The analytical treatment is rational and affords a simple approach in determining the justifiable investment factor for comparing alternate schemes of development. The importance of predictions which form the basis of evaluation is made obvious in the paper. Since evaluation studies precede initial operation of the equipment selected by about two years, it is necessary to forecast the plant operating history from a period long before it exists all the way to obsolescence.
