The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-03-04

lu1l wv VIII PlV"""'! POStPVhS ~ IOA
month ormorc,
lrisptrtty hard to tell what to expect
innl day to day in regard TO new bills
aittins the Baltimore x Ohio Railroad.
The latest is the one introduced yesterday
by Senator Buffer lttakcs n new position
inpganl To tie liability Of the company
Drsuauon at the hands Of the State. II
* in substance, that the earnings of the
company having amounted to sum equal
to the amount expended in its construc.
ton and equipment, and six per cent per
aaum interest thereon, it is competent
ior The Boanlui Public Works, under the
9ih section Of the act Of 1887, to reduce
tie tolls to poin; that will Eett six per
Nat dividends The bill assumes that the
orst ot transportation il less than half n
Tai per ton per mile, and therefore that
anatrial reduction in present tolls can
tke place aal still leave the company an
abundant margin for six per cent profits.
We prcgume that Senator Butler has
Snc Gyer the ground and figured out the
liability ot the company as n problem in
mathematics. We have not Mt hand sutIi.
rrat data tp determine how nearly correct
ttmly be. We notice by the last report
Oithc commny TIN! they put their stock.
cmmon anl preferred, ut SIS, ,2G0,G7S ~
aal lIlCir surplus at S37,lIl,0lO %. This
blec't Of the main line, we take ii, in.
nRncl A. the stock Of the Washington
taach is put down a9an asset and not rs
alabiIiiy.
lathe case Of Marshall county against
Genad, determined nj the January term
dihe Supreme Cour! in 1860, for taxc1,
atrompany took the position that they
'er not liable for taxes until their earn
nsvtthin tue State should exceed six
l''@at pr annum on that portion of
iaeir roai ,iiu2trd within the State. The
rnH, however, dill not sustain this posi-
Non' but he'll that the meaning OF the
charter was that whenever the earnings
% THE Foal proper should exceed six per
Na' then the company was Liable 10 taxa
ton,
The Slme construction OF the charter
VII OF conrsc apply to the consideration
o. Tue question whether the earnings Of
The company have amounted to a sum
eiHaIio the amount expended in the COLI
N'lclion of their road aud six per cent
lF' aRHnm iulcrcs. thereon. II the com.
noa aud preferred stock represents tho
HHoal'l expended in the construction and
Equipment nj the main line, then the fur.
',rF question is, have the earnings, in
g'''mslhe dividends and surplus, repaid
'hreIpitrl stock anl six per cent per nm.
nun Interest. Ii they have, then, accord.
ns 10 Senator i'atler's rendering Of Sec.
s'n :, .'oiihr act Of 1857, 1t is competent
'O'I0e Roanl Of rublic Works to step in
au' Pn'rrib" the schedule Of tolls on the
0%I' provided they Ito not reduce them
Ot''s an amount sufficient to pay six per
'ai ai dNiIcni'cxclu5iye of all repairs.
Meanwhile, while tho Senate was con.
n'e'nslhi' :, new resolution yesterday, the
N'a'e Of Delegates took up and
rScl r Mr.. Sonroc's joint resolution pro.
ul'ns for disappointment of joint com.
! r''s'ON on the part Of the two houses
O''nS To 4 conference with the Bali.
. .a',e AMI olio officials, aad possible
tpnp''aiHc ~ Vi the differences between
". wS''l and the State, We understand That
'0c 0crnsilent KCyscr returned to the CITY
Yesterday and We presume that he
n prepared to confer with such
''a'mliiec as the two houses may
sEro'nI . lnasmach as the time ia 40
sL. ,I.' IN Which anything of whatsoever
,i.,' '".''F :. eau he done at the present ses.
t"' ,5a ,,lI u ToHIl seem to bo imperative ior
,,s,. WV ''"NSe' to come TO somo speedy
,,,,n1 na"' understanding. They have
,,-S,,. s1S'',, a0d yet no! passed, quo warranto
r,',,,', o,a','n' The House has passed a
'a'IOA son providing for a joint commits.
Bo,I,.spe.a ,sea the Senate has before 1t Senator
ali III resolution. What Is to come Of
Visr., ,'' ' cross firing wouhl puzzle the
'''' man in either body 10 ,IStormine,