The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-05-11

\ PeuJ W tno pTcseut time every management
OF it has cheerfulIy $50 far a. known. aud
satisfactorily at least, kept the pavement
where OF granite, aud the road-bed where
OF macadam or gravel, in good repair, at
the sole cost OF the company. Having re-
qnired their predecessors In every stage OF
their struggle for self maintenance 10 Der.
form this necessary and proper work, and
now TO exempt from this requirement the
present owners OF the road (who probably
bought IL at one fourth or less OF its cost,
and who, we hope aud believe, are enjoying
profitable returns from their rnvestmentl,
would be, In our opinion, wholly unwar-
ranted and uniustfiable.
These changes in the ordinance, il will be
seen, were not at all necessary to the exten-
sion OF their track up Main street, hut ap-
phrently were sought TO be obtained wholly
Tor the pecuniary benefit OF the company.
The only part that seemed TO have any bear.
ing on The extension was that the company
was unwilling. perhaps, TO incur the neces-
sary outlly OF money unless they had
longer term than ten years assured TO them
Tor occupancy OF the street. To meet that
point we extended the term to twenty
years, thus showing our entire willingness
TO the extension. In this connection we
VIII add that the committee inserted a pro-
Vision that the company should construct q
single track with sidIngs or a double track,
as the Council should require. This was
done 10 provide for the possible needs Of
the future, no one desiring that il should be
required even then unless imperatiycly De.
manded by the public convenience; and the
committee would not have been tenacious
on thIs point had the company sought by
conference or motion in the Council To mod
| ify il.
II appearing 10 Us that the company was
intent on making good bargain for itself,
we thought II good time to ask that the
city should share a little more fully in tue
| division OF the profits under the existing co.
/ partnership between the city ana the COM
pany, and we therefore introduced a chau GO
IN the ordinance 10 which the writer doubt
less refers when be says the terms would
be runOuS 10 the company" To make this
understood to the public it will be necessary
to explain the contract between the city
ard the company.
Sec'i)n Of chapter 81 OF the Ordinances
OF 1869 is as follows:
And The said company or corporation
shall pay to the proper officer OF the city, in
consideration OF the privilege hereby
granted. and in lieu Of all charges by the
sad company or corporation. for taxes and
assessments, 10 per centum OF The net pro-
tits made by them upon the transportation
Of passengers within the city limits. payable
semi.annually, from the time Of opening the
road 70 public travel; aud the aforesaid
sum OF 10 per cent. OF net profits shall be A
preferred debt or claim against the road and
property OF said railway company. They
shall also, before pIacrDg cars upon their
roads. pay into the office Of the City Trel-
surer, and annually thereafter, for the use
Of the city, the sum Of tive dollar, for each
and every car intended TO run on said rail-
wavs.'
The construction OF this section bv the
city seems 10 have been thar the company
should pay no tax upon the property used
in its business, such as horses. harness,
cars. stages. &c, but should pay tax upon
it. real estate; and this construction seems
10 have been acquie,ced in by every for
mer administration OF its affairs, for We
dud that the realty has been regularly
assessed. and the taxes thereon regu-
larry paid, from the year 1866 down
to 1850. The present owners. how
ever, resist this construction, and refuse to
pay the taxes assessed upon their buildings
for The present wear. II they succeed IN
establishing their Interpretation OF the Ord-
nance it VIII be seen. therefore. that the City
Railway Company will pay no city tax upon
is real or personal property, aS other pro-
pertv-Owners do. nor upon IT'S capital stock.
as other corporations do. The only tax il
will pay will be the 'rfiing sum Of - upon
each ear il runs, whilst each OF our hotels
and transfer companies pay Slj Nhree times
a. much) for their OmnibuseS. In lieu Of
this tax upon iis real and personal property
the city will receive tin addition 10 the s.
per car). per agreement. 10 per cent. Of the
net profits. When this arrangement was
made the city doubtless. judging from the
prOftableneSS OF street-railway companies
in other cities. expected TO derive "A COM
pensation far exceeding what the direct tax
90 il, capital would have yielded. suffice
it to say that under this management OF di-
vidng the profits the city has never re-
ceyed one cent.
! Under the present management, and since
the reduction Of fares. however, il was be-
lieved that the company was making money,
and it was also known that its reports 10 he
Auditor were not wholly satisfactory 10 the
Finance Committee Of the City Council.
The subcommittee referred 10 examined
the CITY Auditor on this subject. and were
far from being convinced that the system
pursued By the company in the ascertain
ment OF H. profits was correct in principle
or fair to the city. Here, for instance, IS 1
copy Of their last statement:
Copy Of receipts for six months, ending
August I. 1850: