Thomas County cat. [volume] (Colby, Kan.) 1885-1891, 1888-03-15
RAILROAD BONDS.
A Candid Review Of the Reasons
Citizens Of Thomae County
Should Support Bonds to tho
c., K. T. n. Railway.

In this matter of voting for OF
against county bonds to the Rock Is
land r. r., our citizens should one
and all rea son upon the good a road,
such as it, will do the county. If that
good more than equals the evil of the
debt incurred, then it is foolish to op.
pose the bonds. We say, unqualifi-
edly, that, in our opinion, the good
produced in giving us through route
to the markets east and west; in Civ
ing us cheaper tariff freights and
rates; in giving us direct and sure
supply of good fuel; in making access
to our county by eastern people
cheaper, easier and quicker; in adding
to the values of real estate; in in
creasing the taxable property in the
county fully one-third; in reducing
the rate OF state and county taxation;
in scattering among our farmers and
merchants a goodly supply of cash,
expended during the building and af-
ter completion, by the company and
its employees; in building up in our
county the city of northwest Kansas;
in giving us competing line OF rail-
way to the Union Pacific, will more
than equal the evil Of debt of $780,
900, did we have every cent of the
debt and interest to pay. But will
We have that to pay? Yes. and no.
That is. the debt has to be paid, and
out of the taxable property in the
county. The statute, however, pro-
vides how this shall be done, and
from the county, township or city tax
raised on the roadbed and rolling
stock of the railroad to which aid is
voted. That is, if these bonds be
voted to the Rock Island Ry. Co. and
they build their road into our county,
the county tax on every mile of the
road will be applied first to the pay
r,ent of the interest coupons, and the
surplus will each year be paid into a
sinking fund for the redemption of
the principal debt The value of
railroad in Kansas for taxation pur-
poses is not fixed by our local assess
ors, it is ascertained by state board
consisting of five members; the Lieu
tenant Governor, Secretary, Treasurer
and Auditor of State and Attorney
General, who fix the valuation at so
much per mile for each mile of each
road in the state.
For the year 1886, the state
board assessed the Kansas Division of
the Union Pacific at $9,585.34 per
mile for purposes of taxation.
This year it will be larger. It is
therefore safe to say, that the c., K.
& N. Ry, when completed through
the state, will not have less valua-
ton. BY persons, in position to know,
it is said, the latter road will be valu-
ed as through line at about 1000
per mile. 1t is safe to estimate the
valuation of the c., K. & n. at $40
900 per mile as through line. In
Guiding side-tracks, switches, ETC.. the
c., K. & N. Ry., if built will have
about A miles of line in our comfy.
This will produce $4,000 taxable
property to be added to our county
for taxable purposes. Our county
tax last year was .O1 per cent, our
state tax .O045 per cent and our inter-
est tax .0015 per cent. To add to the
value of, or to increase our property,
to meet the same sum OF expense,
will reduce the rate necessarily. If
you pay 2 mills less county tax and
! mill less state tax, you save three
mills tax on your tax. If the $780,
900 valuation be taxed at the rate of
last year it would produce in county
tax 81, 400. state tax 81, $50, and in
terest tax $500. If your rate of tax
is increased for these purposes there
is corresponding increase on the
railroad property, if lessened, a cor
responding lessening on its part; and
in the latter event you get a direct
positive benefit.
Coming After Coal.
A Topeka special to the Chicago