Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-03-27

by stock of $500 600 ia roand
runbsrs on the main line, not in
| Guiding branches aud lisbilite. aggregst
ng shout SIG, 000,0 making its total
value as represented by It's stock and bonds
| 1913. and it il fair to ssy ths. the rail
ros. "a worth that amount of money
| today. becau,e it hiss an earning
c,pscity sufficient to renunerste
the holders of the bonds and stock to tbs,
spount. and that il what determines the
vslu CT plant, II that we're to be taxed
Mt municipal ra es, it would average IL
per cert on si9, 900 .0o0. The inroad upon
the earnings OF thu corporation woalt bs
81 large that it could not d, is business
and would be inevitably forced either into
insolvency Or to co5t,act expenditure
! for public good to such an ex
tebs rs to be crippled ia its
means Of doing qood. Therefore il is in
excellent, un~ise sod imrol.Lc that the
/ property OF 3 railroad company should be
tsxef ei'her a. municipal rsies or by tie
N dhicipsli les. l thiak il is eonceded il,
! ibis State thsG nsw rs,lrosas which
are opening up the v,fi1us iocsli les
! " the STATE should be encouraged
"a every possibie way, so tast
| in cur proposition to tar railroads We
adopt graduated scale. This Is for the
pene ct OF the small rsiltost.s hat are s.ruz.
siio1 along and sre building up their pat
ronaae. whose sross ipts per mile ATE
81 600 aud less than 50 ,0G0 that they .hali
re tixgd at tie rate of IS per $1,000 per
mile only. When the railroad gets sirons
aid large esGugh aad the income increases
to between $1,000 and $4,000 .e only iae,ess
this tax s. per $1,000 mile. aed after thai.
second $1,000 Is shall pay $40 per $1,000
psr mile. Then wht il has rece ivsd an
additional degree Of strength, when it de.
rises from the pubic the amount OF money
Ard patronage so that its gross transporta-
ton receipts have mounted up some 500
600 per mile i. has become CORE spordin civ
seie to bear part Of the pubIi. burdeas,
and then up to q certain limit we Increase
be ;axes per mile per average thousand
dollars Of transportation receip,s. havs
made these remarks thus far to shov, as
far IS an concerned, AID have no doubt
fha. represent the sentiment Of the COM
mit'es in what have said, to this degree,
that there has been no disposition on the p.r.
OF the committee whatever no. to recognize
to the fullest extent the numerous capacity
these roads have for baneftting ihs State
AID all The citizens thereof snd tha: we
have oct forgotten tia. the people are de.
pendent upon them and upon their doinss
TO enable them to carry ON their busine .
successfully. We no~ come to another
question, and that question il whether
there 10 anything in this bill which
tends to deprive them Of the means Of csr-
fyirS en- that business successfully in ssis
State. II there is single thing in that bill
ihA. tends to cripple road, want IL stricken
out. l have no sympathy with man who
says that because rsilroad IL Q railroad
IL mus te tsxed, asd fsxsi all tnat
is can s.ac3 b cue inow that
sini OF tsx.tisn i. .uicidai. Bal.
wbsa rssd las srsi-e, II thas degree
ct ssrsI 9Th that il can stand .ioae, see no
reas3a Wy Is shau.i nes tsie IL Slass