The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1890-05-21

that much net on Hn amount equal TO S2,3S9,.
4G2, that amount should be taken 10 represent
the value Of said property-and yet the rail-
road board of equalization, Of which Attor-
ney General Earle is IL conspicuous member,
fixed the value OF tic e.. IL u. road for pur-
poses of taxation for the last fiscal year at
sl,@GS,725; more than one million dollars less
than we have demonstrated it to be worth ac-
cording to sound rule In our opinion for
arriving at the true value of an Investment.
But to fortfy the position which we have
would state that the present owners thereof,
when 1t was sold In 1881, paid over So, 100000
for 1t, and that too, under circumstances
which certainly did not tend to Initiate the
price; and Furthermore that the first mort
gage bonds placed upon 1t, amount Ing TO
s. 0D0,0JO are quoted at from lU5 TO log In the
daily market reports.
1t should he borne in mind too that In ad.
dltion 10 net earning equal to per cent. on
a capital of s., ,3S9,iG2 this road has made I'M
provements In the way Of new iron and roll
ing stock within the last few years. TO the
extent of hundreds of thousands Of dollars
so that the price ut which it was sold (2,4UO0, :
0O0) and the valuation which we put upon IT,,
according TO our process OF reasoning (s2rSS9,-
1927 Is more likely to be under than above the
true value thereof.
Now rs the G. & G. road constitutes only
about one tenth Of the entire mileage OF rail-
roads In the State, and being about an average
road and assessed for taxation ut about the
same per mile as the other roads, 1t Is reason
able TO conclude that If 1t does not pay taxes
on what II really should by over million OF
dollars there must be at least ten million dol
lars worth Of railroad property In The state
that Is escaping taxation.
Add to this the large amount OF bank prop
erty which likewise escapes and we nave an
amount of property, and that too of the very
best species OF property, which, If It paid Its
legitimate share Of taxes would raise suffi-
cheney, together with the phosphate royaltS'
&c, 10 maintain both the South Carolina UNI
rersily ami the Clemson College in first class
style
The State Railroad Board of Equalization Is
composed of the Attorney General, the
Comptroller General, the Secretary of State
and the State Treasurer, and IT is their duty
to take the returns Of the different railroad
Companies as made to the Comptroller Gen.
eral and cqualizc the same-havlng the au.
thority to add TO the valuation in the case OF
any road where they may think the same Is
placed TOO low, nr deduct from the valuation
in any case where they may think the same
has been placed too high-in other Words tney
are the railroad assessors.
Now, rs Attorney General Earle demanded
Of Mr.. Tillman whether or not he considered
that he. Earle. had been inefficient or want;
ing in zeal in the discharge of his official
duty, md stated that lie was ready at any ana
all times to give an account of his steward
ship; the public would doubtless he pleased
TO have him explain how that he, MS an eill-
cent and energetic officer, charged with The
special duty OF seeing that all state and Conn-
~ officers discharge ~heir resrectlEe -hnIes,
should Aavt fTiIed 10 kn0Wt INT certain OF
these officials had refused or failed to carry
out certain requirements Of the law, after
their attention had been explicitly called to
the same by himself, the States Attorney
or how it was, If he knew of the fact or sncn
dereliction OF duly. that he neglected or
failed t,rcquire Of them to answer for The
same in the Courts Of the State.
And We would he pleased to have him eX-
plain 10 orr satisfaction and to the satisfac-
lion of the many other Woodworking hut I'M
pccunlous tax payers Of the State how. In
view of the plain provision of the law as con.
tanned in Section 33 OF Article Uf the State
Constitution which declares that, "AN tdTcs
"shdu be laid upon he actual raiue Of the prop
"erty tdred," he could get his consent TO agree
with the other members of the Board OF asses
sors to assess the railroad property In the
State at Il little more than one half Of its act
ual value, as established by the application OF
the best known rules for determining values.
Respectfully,