The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-10

Aamx1ncr rAxB INCORPORATED COMPANIES.
The act Of the last session. chapter $685. laws Of 1857 re-
pOrstOns contains provisions which have called forth
earnest complaints from many Of paying citizens,
and Of its provisions certainly 10 be repugnaG
the principles just and equal taxation. The Path
ton Of the act requires railroad corporation Of this
State 10 deliver before the first day Of Nay in each
year, TO the assessors OF each town ward into which
any part of their road shall in which they
possession of real estate classified list Of all real
town or ward, specifying-lst The whole number Of
Of land owned possessed or appropriated for their
use, with valuation affixed TO the same, deductng that
which passes along across highways and such other
portions if any, already devoted TO public aud
purposes I'd The whole length Of their superstructure
cost present and estimated value
naming the per ceptage Of depreciation if any and
STRUNG. supersructure to the ties chairs rails,
spikes frogs and switches whether such supersucture
be laid land artificial foundation. 3. The buildings
belonging to the company in their possession describ
ing them by location, with the estimated value, naming
the percentage Of depreciation, II any"
The next section directs that the valuation of the pro-
perty Of any railroad corporation thus furnished by the
corporation ITSELF (and not required to be made under
oath shall be received primo acie evidence of the
value thereof And although the assessors authorized
IL they deem needful for the purpose Of testing alter
ing the valuation thus received TO avail themselves Of
other additional evidence under oath ii liz obvious that
the difficulty of ascerainng the
fined to a single township ward, must render this
authority OF the assessors practically Inadequate not
altogether ineffective.
be but reasonable that the property OF rail-
road corporation should be and taxed upon the
basis and in the property belonging
to Other corporations In estimating its real estate, re
renee should be had TO the amount which has been
pended upon II, in fitting for the purpose TO which Is
applied II will be observed that the phraseolOgy OF the
second clause of the section referred to- in effect excludes
the cost Of grading tie track and erecting cvets and
bridges, items which constitute large part Of the outlay
in all railroad constructions This portion of the expen
dure forms share Of the capital OF a company, and
why this should be exempt from taxation than any
other par. of its capital, is not perceived.
The cost OF construction and equipment OF the railroads
OF this State, in 1856, is put down by the Railroad Gem
mssioners ntheir report to the Legislature, at S37 49,
16 49, sum nearly equal to tenth Of the total valua
tcn OF the taxable property OF the State and although
this sum probably greatly exceeds the present actual
valueo the property of these corporations it's neverthe
less obvious that the radical change authorized by the
in question: in the method OF assessing this vast
of property may seriously affect the Of the State
Surely broad departure from the ordinary mode of
apprasement, and the principle OF just equality in dstri
tutDg public burdens should not be sanctioned without
demonstration Of its expedency. Conceivihg that
the act in question needs careful revis to make
accordant with principles of justice and equality the
Comptroller deems his duty 10 present the subject 10
the attention Of the Legislature, trusting that 1t
ceive the impartial consider alton which its Importance
demands. LORENZO BURROWS, Comptroller.