On December 17, 1942, while the tug Helen B. Moran was towing P's lighter, the tug collided with the lighter and caused the latter to sink within a few minutes after she had been towed back into the slip. P eventually filed a libel against D. D introduced evidence to the effect that the value of the barge at the time of the collision was $15,000 to $16,000. P showed what the repairs had cost and what hire it received for its barge, which in sum far and away exceeded the value of the barge. D introduced evidence that a similar barge could have been built new for $33,000 and that, upon such an assumed cost, there should be allowed a depreciation of $17,800 in order to obtain a proper valuation of a barge that was twelve years old at the time of the collision. The actual cost of the barge, according to the books of the libellant, was $44,653, and the depreciation taken on the books was $28,212, leaving a book value of $16,441. The Commissioner and the District Judge allowed $7,732.21 for expenses of raising the wreck, $37,014.99 for repairs,$6,230.23 for repairs still to be made, $3,423.91 for miscellaneous items of damage, and $6,620.59, upon which the 80% allowed under the provision of the interlocutory decree was based, or a net of $48,817.27. D appealed.

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