New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-26
WIDELY DIFFERING FIGURES.
THE VALUE OF STREET RAILWAY TRACKS.
STARTLING DISCREPANCIES IN STATEMENTS OF THE
oFFIcERs-TAxEs LOST TO THE CITY.

oFFICEIs-TAXEs LOST TO THE CITY,
The Tax Commissioners have been busy re-
Gently adjusting the assessments street railroads to
conform to q recent decision OF the Supreme
Court to how the valuations Should
DO made. Under this decision the city
loses about $4,000 in back taxes and under another
decision made last year. tho city will lose annually
large SUN. Members of the Legislature have shown con-
siderable interest this matter 1t has bearing on
the compel street railroad companies to reduce
fares.
Inquiry OF city officials within day two and an ex-
animation of the testimony in these on file In the
County Clerks ONCE revealed some interesting racs In
1877 the Court of Appeals decided that such property as
street railroad tracks should be as
sessed as real estate. Under this decision the Tax
Commissioners assessed the street railroad tracks at so
much per mile according to value as determined by oc
zion. This mere fraction OF the value
of tracks returned by the companies In their re-
ports to the State Engineer and Surveyor. The
assessment as thus made added to the
assessed value of the capital stock and the total
deducted the cost value Of the track the reinder
being that ON which company was required 10 pay
This was satisfactory To many OF the companies
of them asked to he reduced slightly but pad their
Other roads were advised by counsel not 10 pay
The roads which refused to pay were the Broadway
and Seventh Avenue, the Ninth Avenue, the twenty
Eighth Avenue. the Beecker street and Fulton Ferry,
the Central CroSstOwn the sixth Avenue, the HOustO'
and Twenty.dfth Street. aud the second Avenue The
Dry DOCK and some other roads paid their taxes.
number of the roads put their III the hands OF
John II. Sranan and referee WAS appointed to take
andl seventh Avenue Railroad Company, testified that
that company had nearly eight miles OF double track,
track new for $40 9l3 mile He that the present
value about $1,000 a mile OF double
track. The cost OF the track as re-
turned TO the state Engineer in the company's
annual report, is placed mt S2.sil.27O Tor the eight
miles. Tue FAX Commissioners ds'essedlt at $3Zs,Z0O'
But SIR. F0shay's testimony the Supreme Court re-
uucea the assessment 10 SIS,OI2.
H. b. wilson. superintendent of the Eighth and Ninth
Avenue Companies, testified. as ana all the
other railroad officers that street railroad track could
be built new with steel rails for about 81 900 me %
double track or for one-haf half that sum Tor slse
track. With iron rails he cost was much less MI WI
said that the Ninth Avenue road had iron rmls' and
that tine double track was hVe mes ohg anu Nas
worth not more than $1,000 mile In the report sent
To the state Engineer liz cost was gwen as Sl@o.oOO'
The Tax Commissioners valued 1t Al Sl-j'1oO Jt Tue
reduced the assessment % S211bs. Ia the report
sent to the state Engineer the cost OF the
placed at $637.25i The Tax C3mmssionsrs valued
them at $4,000 Under Mr.. Wilson's testimony the
Court reduced the assessment 10 500 1913.
John H. Robinson the superintendent, testified tnat
the THIRD Avenue tracks could DC briit new, win
track track, and that The; we're worth much les
now because Of depreciation IN material Ihe company
report to the stat Engineer gives tho toa cost u zen
Jacob sharp the president testified that the Bleccker
and Fulton street rond. cN'lusyc OF leased Tracks,
owned three aud one hall miles Oi track, which was Lana
with iron rails lie sad lbat me Track Whs WVitn leSs
than $4,000 mile Inc report 10 tue 0lalr I.g'u ~,
place. the cost of the comPinys tracks at ~ ISL
Mr. Snarps testimony the assessment Was reduced To
$3.50 49, the total value OF the COmpanys tracks and
It's part interest m other tracks.
Mr. Sharp. VINO IL the president OF the
Christopher aud Tenth Street road, testified that IL
oNn,d two miles ~ double track, which was worth
$4,000 a mile. ana which cost when new about Tll.oOo
"A mile In the cumpdny's report To the state Engineer
the cost OF It's track stated 10 bc 9iIIOOo Ihe Tax
assessed II at 100000. but the Court re-
duccd that To T23,52J ,,-,
Mr. sharp also president OF the TYenty-third
rect road lie testified that owned Less thdu TWO
miles OF track which worth rot more than 5000
u mile. To the stale Engineer the company returned
the cost OF It's tracks rs N.'9jlIj Tue Tax Com
m..iuners Rs-csscd tracks AT 10000 hut the Court
reduced that Mr. Snaps testimony, 10 @lo,llO as the
total OF all the companys tracks aud interest III
other tracks. . ~
tracks which could bo built with stcel rails Tor
~ / 600 q mile. The OF the company tracks, as
gwen to the state Engineer Il stated 10 be T9lO1lV In
this ease jud gmcut has not yet been entered. -
The railroad compGnics called James =,
strnhan and John +. Biglry. formerly
pcUuty Tax Commissioners VINO testified that thtJ ud
moi comply with the law In personally inspecting the
street r1a companies In their before cvyng
The nent but took figures given them by Deputy
,ouut.,ioucr Coleman The Corporation COuusel dll
MOI place Mr. Coleman OF the lax commissioners
ON the stand aud no nuson made In the testimony
to the reports made by the companies TO the
state Engineer. by tho decision Ia these cases
L,xes Tho Dry Dock Company, which paid On
an assessment Of S2l 300 and the Central Park Com
pany which paid S2G 900 and other roads, viii not
be able 10 get back any OF the taxes they pad Ihc
sixth Avenue Company for two years paid on I'll 1000
NOw however II II Hsscssed on IT. tracks only Si'OOV