Working capital is $63,400.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $170,182 and $2,153,947, respectively.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Valuation Report 1, for a statement of the methods employed and of the rasons 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 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 $34,798,700.

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 $34,798,700. 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.

Introductory. - The Collins Pipeline Company, hereinafter called the carrier, was incorporated November 25, 1968 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 Houston, Texas. The carrier is controlled by Tenneco Corporation and Murphy Oil Corporation through ownership of all outstand

ing capital stock. The records do not indicate that the carrier, itself, controls any other common carrier.

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, 1970.

Location and general description of property and operations. The carrier is engaged in the transportation of refined petroleum products. It receives the products at its Meraux, Louisiana pump station and moves them in a northerly direction to a terminal located near Collins, Mississippi. The wholly owned and used trunkline aggregates 124.583 miles, including 124.500 miles of main line and 0.083 mile of other lines.

During the year 1977, the carrier received into its system 40,340,163 and delivered out 40,340,163 barrels of refined petroleum products.

Working capital is none.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $17,526 and $969,656, respectively.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Val. Rep. 1, which is hereby made a part hereof, 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

[162,06

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 $16,382,000.

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 $16,382,000. 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 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.

Introductory. The Diamond Shamrock Corporation, Products Pipe Line Department, hereinafter called the carrier, was incorporated July 5, 1935 under the general corporation laws of the State of Delaware as The Shamrock Oil and Gas Corporation (name changed December 19, 1967). Its corporate office is located at Wilmington, Del. and its

general office at Amarillo, Tex. The records indicate that the Diamond Shamrock Corporation is not controlled by any individual or corporation. It controls, through an intermediary company, the Emerald Pipe Line Corporation and the West Emerald Pipe Line 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, 1947, 52 Val. Rep. 33.

Location and general description of property and operations. The carrier owns and operates trunk pipelines in the States of Colorado, Oklahoma and Texas which are used for the transportation of refined petroleum products. The principal trunkline extends from McKee to Mont Belvieu, Tex. Wholly owned and used trunklines aggregate 629.435 miles, including 621.489 miles of main line and 7.946 miles of other lines. In addition, the carrier owns an undivided interest in the Borger-Denver System, a trunk pipeline extending from McKee, Tex. Denver, Colo. This trunk pipeline system aggre

to

Working capital is $25,700.

The original costs of lands and rights-of-way owned and used by the carrier on December 31, 1977 are $71,185 and $1,047,807, respectively.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Valuation Report 1, for a statement of the methods employed and 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 stated herein.

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 $27,176,300.

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 $27,176,300. 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.

[162,068

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 Section 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.

Introductory. The Jet Lines, Inc., hereinafter called the carrier, was incorporated July 5, 1960, under the Corporation Laws of the State of Connecticut and in the Commonwealth of Massachusetts on July 11, 1962. Its corporate and general offices are located at Bloomfield, Conn. The carrier is solely controlled by New Jet Lines, Inc. through ownership of the outstanding capital stock.

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, 334 I.C.C. 470.

Location and general description of property and operations. The carrier owns and operates trunk pipelines in the States of Connecticut and Massachusetts which are used for the transportation of refined petroleum products. The trunklines aggregate 103.877 miles, including 79.180 miles of main line and 24.697 miles of other lines. The main trunkline starts at New Haven, Conn. and extends in a northerly direction to a terminal at Ludlow, Mass.

During the year ended December 31, 1977, the carrier received into its system 12,166,838 and delivered out 12,188,251 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 $89,500.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $73,425 and $715,820, respectively.

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