of the two. The weighted figure is then depreciated to reflect the value of the property in its present condition by applying a condition percent factor derived from a ratio of cost of reproduction new less depreciation value to the cost of reproduction new value. The resultant depreciated value is increased by 6 percent to reflect an amount for going concern. To this increased value, an amount is added for the present value of land, rights-of-way and working capital. This final figure is the total single sum value of the carrier's properties that are used and useful for common carrier purposes.

The details respecting the figures here reported are on file in the valuation records of the Commission. These details are referred to for greater particularity as to the matters herein stated.

The Board finds:

1. After careful consideration of all facts herein contained, including appreciation, depreciation, going-concern value, and all other matters which appear to have a bearing upon the values here reported, the values, pursuant to Section 19a of the Interstate Commerce Act, as of December 31, 1977, of the property owned or used by the carrier for common carrier purposes are found to be as follows:

1. The property owned or used by the carrier as of December 31, 1977, is hereby valued as shown in the table above. On or before 30 days from the date of service of this order, any person entitled to do so under Section 19a of the Interstate Commerce Act may file with the Secretary of the FERC written protest concerning this valuation, such protest to specify in detail the findings concerning which protest is made and the reasons for such protest.

2. If no protest is filed within the period specified and if no petition for leave to intervene has been filed as provided by the notice published by the Federal Energy Regulatory Commission on October 12, 1978, 43 Fed. Reg. 47000, and the proceeding is not reopened for any other reason, these findings will be the findings of the FERC, and the valuation as found will be final.

Jurisdiction over oil pipelines, as it relates to the establishment of valuations for pipelines, was transferred from the Interstate Commerce Commission to the Federal Energy Regulatory Commission (FERC), pursuant to Sections 306 and 402 of the Department of Energy Organization Act, 42 U.S.C. §§ 7155 and 7172, and Executive Order No. 12009, 42 Fed. Reg. 46267 (September 15, 1977).

The FERC, by order issued February 10, 1978, FERC Statutes and Regulations ¶30,007, established an Oil Pipeline Board and delegated to the Board its functions with respect to the issuance of valuation reports pursuant to Section 19a of the Interstate Commerce Act. The Oil Pipeline Board takes this action pursuant to the above mentioned authorities.

called the carrier, was incorporated October 24, 1938 under the General Corporation Laws of the State of Kansas as The Cooperative Refinery Association (name changed February 6, 1964). The carrier's corporate office is located at Phillipsburg, Kansas and its general office at Kansas City, Missouri. The carrier is controlled by Farmland Industries, Inc. through ownership of the outstanding capital stock. It does not, itself, control any common carrier corporation.

Additional data regarding corporate history, organization, operation, financial, other detail and elements of value will be found in the basic valuation report of the carrier's predecessor as of December 31, 1947, 49 Val. Rep. 747 and 51 Val. Rep. 741.

Location and general description of property

and operations. - The carrier owns and operates gathering pipelines in the States of Kansas and Oklahoma and trunk pipelines in the States of Kansas, Nebraska and Oklahoma, which are used for gathering and transporting crude oil. The main trunklines extend from Valley Center to a refinery at Coffeyville, Kansas and from a connection with the Platte Pipe Line Company at Holdrege, Nebraska to a refinery at Phillipsburg, Kansas. Other short trunklines extend from Ramsey, Oklahoma to Caney, Kansas and Stanolind Junction to a refinery at Scotts Bluff, Nebraska. Gathering lines aggregate

666.958 miles and trunklines 243.709 miles, including 241.523 miles of main line and 2.186 miles of other lines.

During the year, the carrier received into its system 26,150,306 and delivered out 26,350,216 barrels of crude oil.

Elements of value. As of December 31, 1977, the elements of value of property owned and used by the carrier in common carrier service are as follows:

Working capital is $134,000.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $21,795, and $251,843, respectively.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Rep. 1, for a statement of the methods generally employed and of the reasons for the differences between the various cost values reported.

In computing a single sum value, the Commission places primary emphasis on two elements of cost, namely cost of reproduction new and original cost to date. These two elements are weighted together based on each one's percentage to the sum of the two. The weighted figure is then depreciated to reflect the value of the property in its present condition by applying a condition percent factor derived from a ratio of cost of reproduction new less depreciation value to the cost of reproduction new value. The resultant depreciated value is increased by 6 percent to reflect an amount for going concern. To this increased value an amount is added for the present value of land, rights-of-way and working capital. This final figure is the total single sum value of the carrier's properties that are used and useful for common carrier purposes.

The details respecting the figures here reported are on file in the valuation records of the Commission. These details are referred to for greater particularity as to the matters herein stated.

The Board finds:

1. After careful consideration of all facts herein contained, including appreciation, depreciation, going-concern value, and all other matters which appear to have a bearing upon the values here reported, the value, pursuant to Section 19a of the Interstate Commerce Act, as of December 31, 1977, of the property owned and used by the carrier for common carrier purposes is $9,094,800.

2. No other values or elements of value to which specific sums can now be ascribed are found to exist.

The Board orders:

1. The property owned and used by the carrier as of December 31, 1977 is hereby valued at $9,094,800. On or before 30 days from the date of service of this order, any person entitled to do so under Section 19a of the Interstate Commerce Act may file with the Secretary of the FERC written protest concerning the findings in the said report, such protest to specify in detail the findings concerning which protest is made and the reasons for such protest.

2. If no protest is filed within the period specified and if no petition for leave to intervene has been filed as provided by the notice published by the Federal Energy Regulatory Commission on October 12, 1978, 43 Federal Register 47000, and the proceeding is not reopened for any other reason, these findings will be the findings of the FERC, and the valuation as found wil be final.

[162,123)

Jurisdiction over oil pipelines, as it relates to the establishment of valuation for pipelines, was transferred from the Interstate Commerce Commission to the Federal Energy Regulatory Commission (FERC), pursuant to Sections 306 and 402 of the Department of Energy Organization Act, 42 U.S.C. §§ 7155 and 7172, and Executive Order No. 12009, 42 Fed. Reg. 46267 (September 15, 1977).

The FERC, by order issued February 10, 1978, FERC Statutes and Regulations ¶30,007, established an Oil Pipeline Board and delegated to the Board its functions with respect to the issuance of valuation reports pursuant to Section 19a of the Interstate Commerce Act. The Oil Pipeline Board takes this action pursuant to the above mentioned authorites.

Introductory. The Calnev Pipe Line Company, hereinafter called the carrier, was incorporated August 6, 1959 under the General Corporation Laws of the State of Delaware. The carrier's corporate office is located at Wilmington, Delaware and its general office at Bloomington, California. The carrier is controlled through ownership of the outstanding capital stock by the Champlin Petroleum Company. The records do not indicate that

the carrier, itself, controls any common carrier corporation.

Additional data regarding corporate history, organization, operation, financial, other detail and elements of value will be found in the carrier's basic valuation report as of December 31, 1961, 324 I.C.C. 681.

Location and general description of property and operations. - The carrier is engaged in the transportation of refined petroleum products, owning and operating trunk pipelines in the States of California, Nevada and Wyoming. The carrier's main trunkline extends from Colton, California, through Victorville, Barstow and Baker, California, to a terminal near Las Vegas, Nevada. The pipelines owned and used aggregate 280.374 miles including 262.386 miles of main line, 2.611 miles of loops or parallel lines and 15.377 miles of other lines.

During the year, the carrier received into its system 19,550,583 and delivered out 19,555,495 barrels of refined petroleum products.

Elements of value. - As of December 31, 1977, the elements of value of property owned and used by the carrier in common carrier service are as follows:

Working capital is $8,000.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $95,402, and $100,485 respectively.

Reference is made to Apendix 4, Ajax Pipe Line Corporation, 50 Val. Rep. 1, for a statement of

the methods generally employed and of the reasons for the differences between the various cost values reported.

In computing a single sum value, the Commission places primary emphasis on two elements of cost, namely cost of reproduction new and original

Working Capital is $3,600.

The original cost of rights-of-way owned and used by the carrier on December 31, 1977 is $5,198.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Val. Rep. 1, for a statement of the methods generally employed and of the reasons for the differences between the various cost values reported.

In computing a single sum value, the Commission places primary emphasis on two elements of cost, namely cost of reproduction new and original cost to date. These two elements are weighted together based on each one's percentage to the sum of the two. The weighted figure is then depreciated to reflect the value of the property in its present condition by applying a condition percent factor derived from a ratio of cost of reproduction new less depreciation value to the cost of reproduction new value. The resultant depreciated value is increased by 6 percent to reflect an amount for going concern. To this increased value an amount is added for the present value of land, rights-of-way and working capital. This final figure is the total single sum value of the carrier's properties that are used and useful for common carrier purposes.

The details respecting the figures here reported are on file in the valuation records of the Commission. These details are referred to for greater particularity as to the matters herein stated.

The Board finds:

1. After careful consideration of all facts herein contained, including appreciation, depreciation, going-concern value, and all other matters which appear to have a bearing upon the values here reported, the value, pursuant to Section 19a of the Interstate Commerce Act, as of December 31, 1977, of the property owned and used by the carrier for common carrier purposes is $136,000.

2. No other values or elements of value to which specific sums can now be ascribed are found to exist.

The Board orders:

1. The property owned and used by the carrier as of December 31, 1977, is hereby valued at $136,000. On or before 30 days from the date of service of this order, any person entitled to do so under Section 19a of the Interstate Commerce Act may file with the Secretary of the FERC written protest concerning the findings in the said report, such protest to specify in detail the findings concerning which protest is made and the reasons for such protest.

2. If no protest is filed within the period specified and if no petition for leave to intervene has been filed as provided by the notice published by the Federal Energy Regulatory Commission on October 12, 1978, 43 Federal Register 47000, and the proceeding is not reopened for any other reason, these findings will be the findings of the FERC, and the valuation as found will be final.