Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1893-08-09
Carson & Colorado Assessment.

anu OOioi duO lsdilWdJ SOlu pduy,
stated to the board that last year the
various divisions of the road as exist
ing before that time were sold to the
present company, making the road
California corporation. The change
results in reducing the debt of the
roads from 81, 000,0OO to the present
debt of s., 900, 900 The net earnings
for the past year are estimated at
S47, 600 which falls about $33. 900
short of paying the years interest.
The road, therefore, is not being
operated with profit, and a fair as
sessment would be on the cost of the
material used in the construction of
the road, say 81 800 per mile
The company realizes that the out
look points to the fact that unless
business increases, of which there is
no prospect at present, the enterprise
will have to abandoned. 1t therefore
asks that the assessment be placed
at 81, 800 per mile. The road, he said,
would have been in the hands of re-
ceiver had it not been for the fact
that the stock was taken by private
subscription from citizens of this
State and the stockholders and bond
holders are the same persons, and
therefore have not pressed the COM
pany. Mr. Swan asked if, one-t third
of the road being in this State, one
third OF the net income being about
$50, 900, the assessment of the road
at 1852, 900 was not rather light.
Mr.. Bender replied that the por-
ton in this State brought the least
income in proportion, being the poor
est producing portion. The only
paying property on the line in Cali
fornia is the soda works at Mono
lake.
In answer to question by Mr..
Hebborn he said that he did not
think a road built for mining pur-
poses stood on the same basis as one
built for the purpose of developing
agricultural districts. Mines were
not always permanent in duration.
In answer to question by Mr. More
house, he stated that at Belleville the
camp used to contain about $50 men,
now the mills are shut down and
there are not half dozen men in the
place, and this is a sample of the
failure of business.
Mr.. Beamer asked a question in
relation to the stockholders and was
informed that D. O. Mills, the estates
of Edgar Mills and Sharon were the
principal ones They were interested
in other railroads and mines in Ne
vada and had taken hold of this.
There is much prospecting in Ne
vada, but it is for gold mines, the
price of silver at present not encour-
aging effort in that direction. Mr..
Bender, however, said he had faith
in the future of the country, it's
grazing and agricultural interests
and his road, and thought that with
in the next two years the business
will improve.
At present an enterprise is on foot
at Bodie to run the mills for the re-
duction of ore by electricity general
ed by water power fifteen or sixteen
miles distant, and the projectors were
sanguine of its success. 1t would be
large saving over the use of wood
The diaries that have been estab-
lished near the line are near Carson,
and do not add to the income of that
portion of the road. There is only
one locomotive in use in this State
The main freight hauled over this
portion of the road is merchandise to
supply lnyo county; and going back
it is soda in its crude state from
Owens Lake.
Mr.. Beamer said the board had ex-
pected that large reduction in the
assessment roll would be the rule all |
over the State, on account of the de-
probation in the value of live stock,
as well as the failure of crops. The
Assessors, however, had made their
nearly the same as last |
year. Had there been a general de-
probation of values, Mr. Bender's
road could have been included in it. |
He did not wish, and the board did
not wish to do any injustice to the
road, but it stood upon the same basis
as other industries.
Mr.. Bender said the income of his
road for the past year had fallen to