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or specialized cargo handling. Based on an estimated straight line 

 depreciation over a 17 year period, the average addition to the value 

 of the Port is approximately $235,000 annually. 



The value of channel improvements is more difficult to assess. With 

 expenditures totaling only 4 million over the lifetime of the various 

 rivers and harbors projects up to 1963, this amount may largely be 

 written off. In essence, this assumes the income effects of these 

 expenditures do not significantly add to the value of the Port. On 

 the other hand, the much greater amount of investment in 1967, a 14.3 

 million-dollar dredging project over a shorter period of time, will 

 affect the economy of the port community. Since this dredging is to 

 enable the port to handle the newer deeper draft vessels, it is neces- 

 sary to prevent port obsolescence. Again, using a 50-year straight- 

 line depreciation an average annual charge would amount to $263,000. 



In addition to the commercial shipping aspects of transportation, 

 the impact of toll bridges must be considered. There are three toll 

 bridges, the Jamestown bridge from North Kingston to Connecticut 

 Island, the Mount Hope Bridge from Bristol to Portsmouth, and the 

 Newport- Jamestown Bridge, which will replace the ferry boats. The 

 Jamestown Bridge will become toll free in 1969 when its bonds are 

 redeemed. The Mount Hope was built in 1929 and its outstanding bonds 

 were retired in 1964. Tolls will continue to be collected until the 

 Newport-Jamestown bridge is paid off. The Newport- James town Bridge 

 is scheduled to open in 1969. The Bridge is being built at an 

 estimated cost of $60 million. 



