The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-09
THING NEw JERSEY RlILRoADs.
An Interesting Argument before Judge Depue
In Newark.

The question Of taxing New Jersey rail-
roads was argued in Newark yesterday before
Judge Depue. Tho roads are. the New Jersey
Central High Bridge Railroad Company. Long
Branch and Sea Girt. Longwood Valley. New
Egypt and Farmngdale. Northern. Pemherton
and New York South Branch. New Jersey
southern. Long Branch and Sea shore Vine
land. Toms River and Watertown. New York
and Long Branch. Easton and Anhoy. The
asscs-ed value OF these roads is slO.37s .6si .96.
and the state tax amounts to t20l j93s9. The
Central Railroad admits valuation OF sl2.539.-
jl9.O6 and 100000 have been paid on account.
Tn Easton and Amhoy admit n valuation Of
s6.7se, s5G 90, and have ,paid sSS.9i9.2S on ac-
count OF the road and its equipments s93.2sOO6.
The road denies the right Of the state 70 assess
its equipments. which are valued AT sOu.bsi .J3.
Some Of the other road, have admitted valua-
ton. but have paid no taxes,
Attorney General John I. stockton oppeared
for the State, and eX-Atiorney- General jacob
for the railroads Gen Fitz John Porter Abel
Raiiroad. and wm. S sneeden gave evidence
hs experts. Gen. POrier's estimate OF the value
OF tho Central road and ts branches. inrluiing
one-tAird VI th" coal cars and equipments o'
the Lehigh anl SuspehHnnA ropl. and two
other items of ill5upO and s71A,65Q.9O respect
lively. WAS i2u 5ll 1929 Nj. Welsh = estimate
was az. .uIu.Din. Tho STATE Board Of Assessors
estimated il ~ t25 22j SSH. and levied nm as.
S,S- mrlt Oi tlgilZ9.lN. fN-Aitorn"N- O. 'i ffil
Nauatta- estimate wis between slGolOOoQ and
| sl7Uup.OuO. The hraushes Of the Central .are
| the New Jersey So thern, Pcmberton nnd New
York, Long Branch and Sra Gir. Nineland.
ana Toms River and Nat"rtown.
Mr.. Snendcu estimated the value OF the
Southern New Jersey at 81 i9l is5. The state
Board Of Assessors e-timut" II Atsl s9u.uuO. Mr..
Snreden was asked what he thought The road,
without tho equipments. was worth. He said
the same leng,h-l1i miles-would cost. Hg
| said $4,000 mile. He admitted that the road
netted 500. 900 annually,
Attorney General Sto 'kton said that the act
regarding railroad taxation presented only one
element in making up the amount oi the tax
| no matter If it be in the hands Of n receiver, is
| liable to taXation us such. though its stock is
worthless H. believed in assessing railroads
| the same as individuals Mr.. Nanatta said the
railroad is applied, and not its aHua
| cost alone. should be taken into consid
| Grafton in the assessment. railroad
| present income. he said. should be taken into
| Consideration as one OF the principal elements
| OF valuation. Land is appraised by the croI
raised upon II. and the value OF property on The
| main street Of a city by the amount Of rent i
| will bring. Judge Depue said the law provided
| for an annual valuation OF the railroads Of th'
State, and that there should be an annual as
| Ssment made upon them. II was not the in
| tenton of the Legislature to take the franchise
| OF the roads. He thought that the element o
| cost was one Of the modes OF arriving at th'
| value Of railroad. and lis annual income Wal
| basis Tor lis annual valuation. He instance,
| the as~cssmcut OF the Easton bridge for what /
| had earned, hut he did not wish It understoO,
arriving al his conclusion. as he referred u
| hy WAY of Illustration only