Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-14

OF this SS5,O0O.0OO is reported by. the
! County Commissioners as contained IN
| Pittsburg, leaving but $S6, 900 fol
the entire balance of the Commonwealth
Millions Invested in Vehicles.
Pennsylvania has $40. 333, 303 invested ir
vehicles for hire, pleasure and work as neal
as the commission can figure. 1t ls estt
mated that there is $76, 906, 042 worth o.
finished goods and raw materials at manu-
featuring establishments The valuation o.
all kinds of agricultural products in 1892 il
estimated at $13olOO0, 600. This is con.
sidered conservative figure.
The valuation of corporate property wal
a different matter for the commission to get
at, owing to the list of the corporations oi
the State being by no means complete OF
correct. The commission took Audito,
! General McCamant's report of March, 1892,
in which he estimated that the capital stock
of corporations and limited partnerships
engaged in business in the State was
81, ,215, ,565. 314 This does not in
| clude manufacturing companies exempt
| from taxation under the law. The
| capital stock of corporations engaged in
purely manufacturing enterprises is esti-
mated by Mr. McCamant at $175, ,000, 900 to
which the commission holds that it would
it up to date. Building and loan associa-
tions are also exempt from taxation, and in
the same report their capital stock is
estimated at S5,OOO,0O0. The commission,
in the absence of accurate data, estimate
the value of corporate property not in
cluded elsewhere in the report at 81, ESQ.,
000,0 They arrived at this figure in this
way. They assumed, after careful investi-
CATION. that the value of railroad property
in Pennsylvania is $500, 100000.
The value of street railways is some $50
000 600, of canals some $50, 600, 900, of tele-
graph and telephone companies some &c.
100000, of express companies some ST.
100000.
Money Invested in Insurance.
The value of the proper.y-that is, the
loans on bonds and mortgages and .collater-
ais and the stock and bonds held by the
stock fire insurance companies of the State,
exclusive of real estate, which is taxed
locaily-is SIS. .o24, ss2; that held by mutual
companies, S., O36, ,OO4 It is assumed that
the value of similar property of other State
fire companies-in accordance with the
business done in the State should be as
signed to the State-shouid be Sc, 497, ,512.
The life insurance policies in force in the
State December 81, 1891, amounted to
S4S6, 719, 502. A portion of the premium
reserve of the companies carrying these
policies should be held as against this and
should be regarded as Pennsylvania prop
erty.
The personal property held by State
banks is some $40, 900, 600; by national
banks, some S275, 200. The value of
such property held by private banks and
bankers has not been ascertained. The
manner of obtaining the actual valuation
-
cidedly novel After considering the mat
ter for some time Mr.. Weeks thought if he
could get at the amount of property insured
in the State it would be starting point
Novel Method of Securing Facts.
Conservative judges estimated that in ad-
dition to the amount of insurance reported
to the Insurance Commissioner there was an
amount carried by what is termed "under-
ground insurance" which was suffi-
cient to raise the total risks in
PENNSYLVANIA at the close of
1891 to $1,000. 100000. The replies to
same 200 letters Mr.. Weeks sent out asking
the best judges as to what percentage OF
insurable property in the State was covered
in whole or part by insurance showed that
in the opinion of those making returns,
property was insured for 81 per cent of its
many other sources, Mr.. Weeks assumed
that 662s per cent of the value of property
insured was covered by the risk. This
would make total value of property COW
cred by insurance $4,000, 900, 900. The ques-
tion as to what proportion of the insurable
property is covered was more difficult, but
was disposed of in the same manner. The
reports from the most experienced compa-
nies, checked and modified by correspond
ence, indicated that not over 60 per cent of
the insurable property of Pennsylvania is
protected in whole or in part. On this
basis the figure OF 1000, 900, 600 was arrived
at as the actual valuation of insurable prop
erty, which the commission thinks is an un-
der estimate. In considering taxes the re-
ports says:
The total taxes licenses, ETC., paid in 1891 |
to all bodies in the Commonwealth of Penn |
sylvania authorized to levy taxes, SO far as |
the same coulu be ascertained, amounted to |
s49. ST. 536 This is divided as follows:
Total taxes licenses, etc., paid in Pennsyl- |
vania in lS9i- !
o . ate -.............. ...piS,Vl1,o.I
County. ...................-.... o5O 4So 4
Local Dodles-.. ACKNOWLEDGEMENTS. Sl,IoO,S9l
IOldl. .V1",ooo0Vd
The amount of certain taxes. chiefly poor |
and dog taxes, could not be ascertained. 1t |
is possible that the total taxation of Penn
sy1vania will reach $50 600, 600 annually.