Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-05-20
STATE BOARD OF EQUALIZATION.
The Railroad Companies Granted a Hear
ing Yesterday.

ing Yesterday.
The State Board of Equalization, after al
iournment without the transaction OF ousi
ness on Monday and Tuesday last, at the re
quest of Attorney-General Hart yesterday
took up the matter of the petitions OF the
Central Pacific Railroad and leased lines fol
a reduction in the assessment liked by the
Board. The members of the Board present
were Dutton, King. Heiskell and Kenfeld
| Acknowledgement Hart appeared for the PEG
nile and Greed Raymond represented the rail
road company. The entire morning session
was occupied by the examination Of
Chas. Cadwalader. the locating, constructing
and resident engineer of the Central Pacific
Railroad and its branches relative to the
value of the California Pacific Railroad. He
testified that he would consider s.. 975 pei
mile fair valuation for the road, not includ-
ing the fencing, which be said was constructed
by the company as an equivalent for the
right of way, and could consequently be
claimed by landowners on each side of the
road. In reaching this grand total for each
mile he calculated 20 tons of steel and the
same weight of iron to the mile, valuing the
former at SO and the latter at $50 per ton.
mated 12b acres TO the mile. The witness
was subjected to long cross-examination by
Mr.. Hart, as to what factors he would con-
slider in estimating the valuation OF rail-
road, as to whether the profits of the com
pany, its cost, or the Importance OF its ter
mini would influence HE conclusions, but the
witness persisted that the true method OF de-
termining what road was worth was to
estimate the value of the roadway and su-
perstructure, irrespective of the amount OF
business, per cent. of profits location OF line,
or cost of construction.
At the conclusion of Mr.. Cadwalader's
testimony the Board took recess till half
past o'clock. On the reassembling of the
Board in the afternoon W. d. Curtis,
Superintendent of Track of the Central
Pacific Railroad and leased lines, took the
stand. He testified that 50, 600 per mile
would be a liberal estimate of the value of
the California Pacific Railroad.
L. B. RYAN, Tax Agent Of the Central Pacific
Railroad. was next sworn. He testified that
last wear the average assessed value of land
in Yolo county was S13 50 per acre; Solano,
S13 So, and Napa, SIC AZ, and nothing had
occurred since that time to enhance the
value of land in those counties. In estimat-
that he considered its productive capacity if
in an agricultural county, or the advantages
due to its location if situated in
a CITY, Mr.. Ryan's examination consisted in
great part of discussion between him and
MIR, Hart and the members of the Board as
to the principles which should apply to the
assessment of land. He asserted that with
the exception of the main trunk Of the Cen.
trail Pacific every railroad ia California had
lost money. The fact that this road was an
exception to the rule he attributed to its SUBJ
sidy Of land.
G. A. Grow, Auditor of the motive power
and machinery department Of the G. P. r.
r. and leased lines, being called, testified as
to the value of the rolling-stock on the Cali.
fornia Pacific Railroad.
During the absence of MIR. Hart, L. +.
Heiskell, of the Board was sworn, at the re.
quest of Mr.. Raymond, and examined as to
what factors he had considered in determin-
ipg the value of the California Pacific Rail-
road. The witness admitted that in placing
a valuation upon the road he had taken into
the cost of making tunnels,
cuts and fills, and assessed it higher than a
road running through a level plain. He also
that he had assessed the land in
Guided in the roadway higher than adjacent
lands, because of the benefit derived from
the right of way, and had also included the
cost of the fences in the roadway.
D. NJ. Kenfeld was next placed on the
witness stand, but Mr.. Hart, reappearing on
the scene just at this time, objected to the
examination of the Board.
Mr.. Raymond then offered to prove on the
partsof the petitioner, by the witness on the
stand. that the Board had considered the cost
Of making deep cuts, high fills and tunnels.
thus increasing the assessment at least 100
per cent.
Mr.. Hart objected to the offer as iucompe-
tent and on the ground that the things con-
siiered by the Board were not matters for
investigation in any tribunal.
q, The Board sustained the objection by
unanimous vote, and hir. Raymond ex-
cepted.
Sir. Raymond next off cred to prove by the
witness that the Board had considered the
cost of the fences in determining the value of
the roadway.
This was also overruled on objection of
Mr.. Hart, and an exception taken by the Pc
titioner.
Mr. Raymond next offered to prove by the
witness that the Board, taking into consider
alton the profits and proceeds of the road,
assessed it higher by 100 per cent. on that
account.
Same objection, ruling and exception.
Mr.. Hay mond then offered to prove these
same facts by each member of the Board,
with the same objections, rulings and ex-
ceptions.
w. d. Curtis next testified as to the value
of the Stockton and Copperopolis Railroad.
G. A Grow testified as to the value of its
rolling stock.
Charles Gadwalader estimated the value of
the California Northern Railway at $1,000
per mile.
T. B. Ryan gave his estimate of what the
lands Of this road were worth.
w. D. Curtis estimated the San Pablo and
Tuare Railroad TO be worth 50, 000 per mile.
L. L. Ryan gave estimates of the vaile of
the land Of this road.
w. ID. Curtis considered the rails of the
Amador branch to be worth about SO, 500 per
mile.
f. B. Ryan estimated the roadway at
about $500 per mile, and the road. bed at S700
or $500 per mile.
L. &. Ryan estimated the roadway of the
Sacramento and Placerville Railroad to be
worth about $500 per mile. The road bed he
valued at abou. the same as that Of the
Amador branch.
c. A. Grow gave his estimates of the value
of the rolling stock on this road.
In the case Of each of the above roads Mr..
Raymond made the same offers, which met
with tie same objections and rulings.
At the conclusion of the testimony ST Mr..
Grow the Board adjourned until 10 O'Clock
this morning.
FULL DIREcTIoEs.-A letter has just been
received in the city from VIM. Hanstord,
who formerly resided here, but now writes