The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-28

Col. Thomas Barettssu perintendent and
general manager OF both he street railroad
companies, is angry.
He is, in fact, very shrry. So much so,
in fact, that he makesI 10 following an
nouncement through tbo official channel:
81 never made any such statement as
the above, nor did any member OF the
board reply to me in ar such manner.
How such misrepresel ion could occur
save by willful and , icious desire to
place me in false light fore the people
is one OF the mysteries at can be solved
by The APPEAL alone, This is by no
means an uncommon Ting with TnE Ar
PEAL, as II has on severn occasions made
like Misrepresentation out me, and like
the rest, this is as utterll ialse."
The colonel had refeicnce, in the FORE
going TRADE, 10 the report OF his appear
ance and conduct beforc tho equalization
board. Having confidence In the members
OF that board who gave the information to
The APPEAL reporter and through no
"willful and malicious lesire" to place
him in false light beforc the people, TnE
APPEAL has no correctiou to make.
And there are further Proceedings in the
hs
which were not givenin the former report.
Neither are they given row to crafty "a
willful and malicious desire" but merely
because the colonel inyes them by his
malicious denunciation.
The board OF equal alton has been
greatly hampered In Its proceedings by a
determination TO do the street railroads
justice. Several efforts, extending to q
number OF officials, have )een made, yet
the assessment is still nn,ettled, owing TO
n closeness in giving the necessary intelli-
gence. The board was aware that the
companies had Sl,000,O00 in stock and
another 81, 000, 900 In bonds, but the ques-
ton with the members was, how can this
watered stock be valued or what Is II
WORTH II was TO arrive 4 a conclusion on
this point that Col. Thomas Barrett was
invited 10 appear and tcstiiy.
According 10 the members of the board
whom TnE ArrEAL reporter Intercepted,
the colonel was utterly devoid Of definite
information. He would giYc them no sat
isiaction whatever, further than persist
ly claiming that the assets were bordering
on worthlessness. Tie board was further
informed, as an argument that the COM
pany was poverty stricken, that il owed
S62, 900 and had paid but three dividends
in twenty-three years. When the report
Of its miles OF track went in IL was twenty
two and one-fourth miles, the value OF
which was estimated nj 81 900 per mile.
BY an examination Of the maps Il was
discovered that the company has thirty
| five miles OF track, antllan oversight oc-
Cured In valuing the giatuitous franchise
now enjoyed. The pubic will admit that
several miles OF the cdmpany's track, from
the standpoint Of It's physical condition, In
not worth much moro THAN 1000 cents,
but the contract under which Il Is oper-
ated tells for something great deal better
Mr.. Condor, the assessor OF Knox
county, was before the Shelby board yes
terday, and stated that tho way a conclu-
sion was arrived at up there was 20 assess
the whole property at tbe rate 5000 per
mile. This covered males, stables, etc.
II the board ever expects 70 finish its
labons ON the Memphis street car eompa-
mics, II viii adopt the mine plan. Upon
this basis, the assessment will DO S2i5 600,
TO which concern capitalized nj 5000
600 aud enjoying lie franchise for nothing,
cannot reasonably object
But Col. Thomas Barrett Is assured that
there Is no "willful and malicious desire"
10 place him In n false light before the
people. TnE APrEAI. simply relied, and
continues 10 rely, upon the vcracity. in
tegrity and fairness Of Inc boards mem
bers, Individually and collectively. The
sessions arc now held With closed doors,
reporters are not admitted, aud iniorma-
ton about the proceedings and incidents
are obtained after adjournment. II there
Is ialsehood, the public may place II.
Tho equalization boarI disposed Of the
banks, insurance companies and compress
company yesterday. Tho latter corpora
| ton was assessed Al $4,000.