Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1879-10-08
THE RAILROAD COMPANY'S
TAX ASSESSMENT.
Virginia Chronicle.l

pie of the State to the full report
published in to-day's Chronicle OF
the proceedings OF the Board of
Equalization Of this county on Sat
urday last. The Assessor had val
ued the main track Of the Virginia
and Truckee Railroad in this county
at $4,000 per mile, and the side
track at $4,000 per mile. H. M. Yer
ington, the Superintendent of the
railroad, appeared before the Board
and asked for reduction of valua.
ton to $4,000 per mile, main track,
and $4,000 per mile side track. His
reasons for considering the Assessors
valuation excessive and unfair will
be found in the report, stated fully
and fairly. The reasons which in
duced the Board to substantially sus-
tain the Assessors valuation will be
found set forth at length.
The impression which the report
will leave upon the mind of the at
tentive reader is that Mr.. Yeri'Igton
places very low valuation upon a
piece of exceedingly productive
property. The length Of the main
track is 50 miles. Storey, Ormsby
and Lyon counties have each assessed
that part of it which lies within their
limits at $25, 900 per mile. Washoe
county has assessed the main track
at $4,000 per mile. There are in
that comfy Is G5 100 miles Of the
main track, leaving 90 35 100 miles
in the three other counties. The to-
tai of Washoe's valuation is $3.50. $50,
and of the three other counties $65S,
$50. which added make the assessed
value of the entire main track $3.50,
600.
There are, we believe, 90 miles of
side track. Ormsby and Lyon have
10 72.1OO miles of this, which they
assess at $4,000 per mile, making
for the two countses a valuation OF
$s5,76O. Storey has 8 28-1OO miles,
which is assessed at $4,000 per mile,
making $49,6SO. Washoe has four
miles. We have not been able to
learn at what value it has been as
sessed, but $4,000 is liberal guess.
This gives $4,000 making a total
f,r the side track in all the counties
of $159,44O, and grand total for
main and side track Of 81 ,O40, O4O.
We are sure that Mr.. Yerington
will, upon reflection, agree with us
that this is very modest estimate
indeed of the value of the Virginia
& Truckee Railroad.
According to his own report lpre-
sented to the Legislature last winter
and now on file with the Secretary
of STATED, the roads net earnings
last year we're S725,O92 As. The
earnings the year before Gas he in
formed the Legislative Committee
of Fourteen) had been twice as
great. But 10 addition to the 1925,
O92 As above mentioned, which
went to the stockholders as divi-
dends, other net earnings to the
amount of about 100000 were ex-
pended for the redemption of mort
gage bonds and the payment OF in
terest upon bonds outstanding. max
the total net earnings for 1878, as
far as known, $SS5,092 As. This is
a very handsome return on prop
erty worth only $1,049,04O. Even
half, or a third, of $885,002 As up
on such an investment would salts
fy ordinary men.
The Chronicle desires the people
of the State of Nevada-and espec-
tally those of Storey, Lyon, Ormsby
and Washoe counties-to pay par
ticular heed to what Mr.. Yerington
said to the Board on Saturday. II
will be seen that he believes the
Assessors of Storey, Lyon aud
Ormsby counties to have been moved
by a sort of communistic desire to
"cinch" railroads in general when
they valued the Virginia & Truckee
at a figure which we have here
shown to be little more than the
net earnings Of the road for sin
Gle year-and poor year at that
The same unworthy motive was
charged against those men and
newspapers which sought last win
ter to induce the Legislature to re-
duce the freight charges Of the rail
roads of the State. Such an accu'
sation is as just 10 one instance as
&ho Dkhor