Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1879-10-01
THE v. & I. RAILROAD.
AN ATTEMPT 10 HAVE ITS
VALUATION REDUCED.

e1seiucE ~ 06OyUUU
Per Mile-Superintendent Yer.
ingtOn's Argument-The Reply
Of the Commissioners.
Superintendent Yerington, Of the
Virginia and Truckee Railroad Com
pany. appeared before the Board of
Equalization, in Dayton, last Mon
day, 10 reference to the increase made
in the valuation Of the road for a.
sessment purposes. The road lied in
this county had been returned at
$4,000 per mile for the main track,
and at $4,000 per mile for the side
track. The Board of Equalization
had raised this valuation to 5000
and $4,000, respectively. This was
too much, and much above what
other roads were valued. There was
not road in the anti-railway West
ern States which was assessed above
%, 900 or $500 per mile. The Gen.
trail Pacific was only raised to 90, 600
per mile. and he could prove that it
cost as much as the Virginia and
Truckee. The taxation was therefore
unequal and unconstitutional. The
road had cost nearly $4,000, 900, it is
true, or about $4,000 per mile, in
GLIDING depots, rolling stock, and 90
forth, but it was not worth half that
now. Besides, that portion of it in
Lyon county did not cost as much as
Others. The road from the Orms-
by county line to the Mound House
had not cost so much, aud that be-
tween the Mound House and the
Storey county line could be
built for $4,000 mile, and even
less. Tunnels, fills and cuts we're
costly works, while building q road
on level ground was comparatively
inexpensive. OF the original cost
over 100000 was expended be-
tween Gold Hill and Virginia, in
tunnels, cuts, and so forth on that
part Of the road. These works were
very costly, but Of no more use than
a level, open road, aud the Board had
no right to tax the company accord
ing to the cost of tho road. All the
Board had a right to tax was the
rails and ties. The road was not
near as valuable as formerly. The
receipts had fallen of fifty per cent.
during the past year, aud the com
pany would gladly sell its road, roll
ing stock and all, 70. $4,000, 900.
Besides, the valuation of the road
was out of proportion to that Of any
other property in the county. Take
the Sutro tunnel for instance, which
cost n, 000,0 and was only valued
at about 100000. This was mani.
testify unjust. The Board could not
look to the statement furnished the
Legislature for any valuation of the
company's property, but must assess
It for what il would sell for cash.
This was sound law, and the amount
Of money made would have nothing
to do with It.
TIM PEOPLES SIDE.
Mr. Yerington was replied to by
Messrs. Shaw, Mackenzie and Bur-
rier. Mr.. Shaw, being Chairman,
did most of the talking. however.
The substance Of the replies in the
peoples behalf was as follows: The
assessment was eminently just, be.
cause the road was fully worth 1t.
This had been shown by the sworn
statement made to the Legislature
last winter, which stated the net
profits for last year alone at about
$4,000 per mile, or about IL per
cent. per month on the capital in
vested. The road was certainly
worth what II was sworn to be by
Mr.. YeringtOn, yet the Board had
not raised the valuation to much
more than IS per cent. Of its value.
Had the Board known as much
about the Central Pacific as It did
about the Virginia and Truckee
1t would have raised 1t to $25, 900 too.
With the LIGHT hefnro tha Roard the