N.Z. INSTITUTION OF ENGINEERS
ADDRESS ON ECONOMICS BY MR W. B. VEITCH
There was a good attendance at a meeting of the Southland" branch of the New Zealand Institution of Engineers wh'en Mr W. B. Veitch, of Dunedin, gave an address on “Engineering Economics.” Mr G. R. Milward was chairman.
Mr Veitch dealt particularly with the problem of determining which of two or more possible methods of carrying out any. work was the cheapest ,in the long run. This could be considered from four different standpoints, he said. (1) Capital cost; (2) capital cost, plus total maintenance cost; (3) annual charges; or (4), the present value of the annual charges. Mr Veitch explained the advantages of the last method and why he considered it the best. He also mentioned that it was used by the Post and Telegraph Department, of both England and New Zealand.
Numerous illustrations of the application of thd! method were given and they showed some of the inconsistent results given by the other methods. The speaker answered many questions and was accorded a hearty vote of thanks.
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https://paperspast.natlib.govt.nz/newspapers/ST19390728.2.29
Bibliographic details
Southland Times, Issue 23881, 28 July 1939, Page 5
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181N.Z. INSTITUTION OF ENGINEERS Southland Times, Issue 23881, 28 July 1939, Page 5
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