New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-14
RAILWAY INTERESTS.
MR. GOULD TO MAYOR GRACE AGAIN.

Jaw Gould has addressed to Mayor Grace n
second letter reply the Mayors letter on the ques
ton Of taxing the elevated railroads. MI "ouid says
that the Mayor passed in silence that part OF his
letter complaining that the elevated road compa es are
assessed on their real estate OF its fuh COST
While the other real estate OF the cry
including that owned By the Mayor Is only assessed NJ
60 per cent of its full value He declares that this g.
ence is accepted by him. and will be by the pubic as
admission that his statements on the SUBJECT are IN
every particular in accordance with the facts MI
Gould quotes the statute this subject to bear out his
argument. He adds:
In my letter of the 4h inst also pointed out TO you
wherein the assessment made OF the capital OF tue
elevated companies and the amounts imposed
nanies for The year 1880 were wholly without
authority in law The burden 80 nposeu e tne
Company. S}7, G33 20, and upon the Manhattan Com
pany $9i PAS Your answer Is an Attempted Justnca-
ton OF the action OF The city officials III imposing ese
burdens and coming from yOdr Honor, take 10 10 DC
the strongest statement which could be put torh IN ther
behalf.
Mr. Gould declares also that the assertion that an as
Of the OF the elevated railroads as
real estate, their full cost il upon the same basis as
that OF other real assessed GO per cent OF cost
w0uld not IN any way avail o defence o. action which
Is clearly illegal and wholly unjustihable. The law
makes discrimination between the elevated railroad
companies and any other company ia the city Its pro-
visions are ake applicable to all Nowhere Is there !aE
hoity FOR applying different rule in assessing the
ial OF the elevated companies Mr. Gould continues:
Yoa evidently consider that You have made strong
point when ycu that with characteristic caprice
the Commissioners 81 Taxes and Assessments assessed II
nhe stock OF the Manhattan Company az the price
which inc sworn officers of the company getting
for it in the open market You ought 70 KNOW that
there i another element be considered in assessing
capital for taxation besides the price al which the stocks
shares Of the company may De sOd or purcAs sea IN
the market A. well might the Comm ssOheTs OF LAKES
and Assessments with characteristic ca rlce ~ You
designate their actions assess for taxation me entire
capital Of company on me TACT that an s $50 wac
being bought 10 sold III the market, without deduclng
any portion of the assessed valuation OF It's ra esae'
Manhat an Company the ground stated ny You that
s siock being bought ana sold by lts Oicers no
certain price In the year 1851 Tue stOck OF DJt thc
York and the Metropolitan companies was plr-
chased and sold by the sworn officers OF These companies
prices ranging from 800 TO SllO per snare out tue
caprice" OF the assessors during tAat year dd nos
assess the stock Of either cCmpany Tor taxation:
They did not do because amer ceducng te assessed
of the real estate from the capta, no por4Oh VI
the latter remained for taxation.
The company. MI Gould declares cannot bedeprived
Of their statutory rights and among these thus secured
to them the right have the assessed value OF their
real estate deducted from capital before any portion Of
such capital be assessed for taxation. The objection
made To the assessmentOf the capital OF the elevated
companies is not based what you term clerical error
The objection that the assessments unauthorized
by law" The being unauthorized, the taxes
imposed were wholly illegal In consequence OF this
Illegally the companies have resisted and do resist
payment. Mr.. Gould asserts also that conscious OF
the cgay Of these taxes, the Mayor has to the
Legislature and asked Tor the recnactment OF law
assessing anew the capital OF the companies and oppos
ing these illegal taxes and this, it IL asserted is done
for the purpose Of compelling the companies to pay
what they are not liable to pay. In conclusion Mr..
Gould says:
You again. your communication Of the 9th inst, re-
assert that the elevated companies endeayOrng %
escape all taxation. sucn, repeat is not the
fact. The companies fully recognized
and to the municipal Authorities their far and just
share Of the pubic taxes. No action has ever been
taken by them wi the view Of obtaining relief from
these public burdens All the objections they have
maIe have Illegal, oppressive taXatiOn-to UNI
lust discrimination as against their property when
compared with other property, real ana personal sub
iect TO TAXATION He ADDS the Mayor persists in
doing what would be uniustihable injury TO the ele
waited companies he VIII compel the companies to
icit the LEGISLATURE law which shall termi-
nate these YexatlOus questions for al time 70