New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-04-26
SEEKING RELIEF FROM TAXES.
pro1rrsr or THE FIEvATED ROADS.

REQUEST OF THE ELEVATED ROADS.
TIE OFFICERS OF THE MANHATTAN COMPANY d.
CLARE THAT THEY CANNOT PAY TIE FIXED
CHARGES AND TIE TAXEs.
Robert NJ Galloway. president of the Mammalian
COMPANY jose +. Navarro. one of the directors ana
others interested in the elevated railroads IN ihis
citv called upon the Mayor. Controller and corpora
ton Conpsel about n week ago and asked 10 he re-
lievcd in part from the taxation imposed upon 'nc
railroads which they represented. This action was
caused by the decision Of the Court OF Appeals tia'
the entire structure Of each Of the elevated
cnnld be taxed rs real estate President GallaWN
made certain statements concerning the lh,u.i',,
condition Of the roads, Asserting that my -"
now earn the fixed charges, ncludmgt ne g',arahl'e
dividends of 10 pcr cent each on the -lork anu
Metrnpclitan Railroads and that theincreased taNa
tiou will prevent payingcNcn the 1ull interest "n nv
t,nds Tho committee was told that any statement
il might wish 10 make would have 10 be IN wiilnE'
The committee called again Yesterday and submit
ted the following commnuicaton' Whi'h II WIS III
formed vouId receive due consideration;
IN -, Vq,or Controller aud Corporation Counse'o Of M'
rig (, httnn Railway Company. representing and
orcrotin l the waited railroads ~ INC 'y 81 N'M
York beg. leave o submit 10 Won me louoWE ne sc
,earl 10 its financial condition. for inc purpose OF ~
cuihE tour H. f,,, torcs The belief seems have
Obtained circulation that the operating Of the cc a
rois - IN and hat m, rrfore the imposing VI large
ouy a fair share Of city burdens 10 be- placcH
mon them such Is unfortunately not true. The on
l rcnort Tor The wear ending September 30 $50 mao
40 49, s,ate Fu.irccr shows that the roads were olct-
atrd that year at loss ~ about SV'pV - l me.
tan Comn:nv This did not include the taxes on srn, ,
tnre and capital which hXcd by the en-! a ao'"'
Fcr The current wear IT il estimated n the earnings
continue in the same ratio a. dnIIgs i,
six months, the gross reccipi- WI %, 1 hn In
Tho migrating Xpenscs 10 ia believed VIII Dc o ooo
G5 per cent '''7",V
Leaving opplicahc to taxes nton bonds ctc - ~"o
Tho NOR gage bonds now Issued ana ouislhiE ,
Which i. 81 3Gi OsO say SJ737 per day: Quite IN
amount Of additional bonds w." have Va D' is-l, s
to nav for needed terminal facilities ana addit!"ht %
cnniIncnt which will considerably increase ihis
charge. 49,. .....o-, ,-oo- ,o,.,cd on
enc is ~ last wear VIII be- nbout $75O.o0O or over
- 900 per dnv Our profit aud Ions account for the year
will then stand - follows .oo,
(,TS1s faa' 3 scoo
Interest s On ln,' - hwy. s-5oooO
Taxes crst.pr eXprhscs 10000 10000 5.2aio'o
That ia 10 say.n the company il Obliged to pay the
full amount ~ this years taxes u VI" hr ih' =. l
even the interest ON the present uottEhg' n', :" ~
ronds There will be dchcehcy ~ hhoyc shown u
nearly $500 per day. or about S-ooFp "t li, ,h
s remain the taxes for I-7H and Is-u unpaid ana ~
arr9r' an"Ip1n rscc 10 Of The "nri o Appcnls
Tits c1mpanv IL liable To insist the payment Of ti-
cnmpany into bankruptcy. This uu-hiisfariory; put
truthful. statement of the condition ~ '",ts'
manager Of tlic elevated roads II viii probably
cause surprise 10 your honorable solve nnl ~
nc cx,riurni have not been realized, the reasons for
failure nrc easily traced To tn"r source 49,, ,,,o
! The roads have now been 10 existence ABOUT tn''c
vc,rs During the first yrar-hult and run "hiF I"
y,, njuthst they fairly astnu-hcd the man
arcrs hy tRrir large prints Then the cot of repair,
wa. rinng. and The portions Of road operated "'fo ''
hiring the year. 1880 in obedience to public
clannr fr an Xou-iun - tl" lines they w. r. cohhh
=, thc Uaretn Ii,,r ~ 10Th sido- ~ The city. very
/ that lnffth~fh lhtli
for the public had been prov 10 nd' ahr OF lh' l',
o,t a. Largo xprn-e to the company. IL was hoI'"'
b"~rver thai pn, ing business would In the sue
Dnrin The third year $50 - md that thc@c hopes
ar moi allied: for while the rrc pt' ~" ciiy
ingly large and quite equal &" expectation ii' ,A
pesrs have increased 10 even gr alter Pr"i"t"i l'll
ihe mel income much less than the year htigrr ana
that. too. added mileage aud cataL im , un-
been caused by I'D rise IN the pric" 81 coal In J -
70 - 20 per ton Year ago We Ialu = 10 nov
II costs - 30 per ton, aud Tor the bhhhc" q" & ~
we arr. asked - 80 We consume very nearly 700 Tons
por day ~ Tho wages Of MI clas" an, 81 our 'ni or
have been increased nn average ~ tni{ j. per q, ID, COR
more than S-OOOO yer mnuth over last year Inc men
ar even now caInofur for still further advance l
The cost ~ "i aud iron and u'-i a. "l't hl.'.,T con-
summed the road j. greater 90 TIC frpns 10 slI
thing that Any body had ever cApci"d For The '""
wears when everything "a- urN tho rrlhli~ ~ ,Nl-
OF course the absolute integrity Of the rolling si",N
and structure must be- Preserved ni Any c- AMI ~ t'
expense what It may perfect safety in p''n viii '
S ,,rrvinns experience on other roads qualities 3"
TEN i= and Experimental II j. i"ihd now ,Ih. l"
great wear nu rolling -t"'t and -trtif' arise
largely from the Str, frequent and -ud stopping ara
starting of trains fhcs, our capable engineers hatr
timnicd 10 hc fully equal t0 the -"rLhc'- hHd -lulF-
on All the other railr"ad, "a the United states com
In addition the stop. and rapdir,n-it lines
have 10 be- made ~ almost fun -cd. n order to tnhh"
sat -acory time. thereby nddur greatly 80 ordinary
rarking Of cars and r"ad We contemplate with gray
this large incr'i~r lu ""-t oi tlIIN ann me
inrr,sc CONTINUES pr"p"ru"u"tcy 10 th fuiuft h' con
sequence 10 the success ~ elevated r"hi- "' w
forecast We rann" forcar asking Your attention "l
moment 10 the fBt That many millions ~ properly nave
been already aided e. the taxable hrra oi the t'i
owing to the eylsicncc 81 ihrSe elevated
millions " 40 hc added through thrir potent agency ~
prrrn'cd a. liycj the lasting benefit 81 The mctru
oils II u Of val Importance 10 the further ana
rnpid growth ~ y, YORK Cy thni the elevated roads
H., not rtuuu.ly taxed ont of rNrtfncr nrt lass
means of rapid t-ansiti DO they net sanhuy, Ia Ir
hitting citizens live iu airy districts instead ~
property of the tax ghhcrcr, Sui"'uy c"utHhntc 10
wards sustaining the city government 10 warrant NOR
to endure aud imposed. We nr' constrained 0 believe nm
der a mistaken idea uf The -p"ry Of the Manhattan
COMPANY owing 90 the fact that no paymons were re-
/ nuir,d from the Manhattan Company ipr year AFTER
| II cornmrnced ~ operate the ruAds under lc!lse
N accumulated u surplus fund which las enabled II Ia
pay the liked charges 81 "inicrrr on bonds aud guar
now entirely exhausted. and point has been reached
where relief ircm taxation mn-i hc granted or u viii Doe
impossible to Jay even te Interest on TIE bonded '
We ask yOu. therefore, " )on VIII NOT cooperate win VA
u getting passcd 10y the legislature at It, i
session. relieving hir company FROM ali other form 81
taxation aud sisituug tax of say per cent "n the
net eaTulugH or an cluN aren't Tax Oh tt gross cihTT
Ne fIrfhrr pray that we he relieved from paying any
part 81 the arrcaraecs of taxes for 1879 and 1880 he
I.onrRr NJ. GALLAwAr. Prcsidout.
Eer- Ygrk. April e5, 1881.