Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-05-04
THE PHOCEEDtNGs


Wantland offered the following
which he asked to be made section D
OF an ordinance re.enacting and CON
drming certain resolutions granting
franchises TO the Salt Lake City rail-
way company and amending The
same:
That tho company shall pay into the
city treasury annually rs license NIX
for this franchise aud IN addiuoh 70 Wv
ordinary property tax lowed undor inc
Territorial laws, sum equal to ono per
cent of tho gros. earnings OF said COM
pany during period OF iive years next
succeeding the passage OF this ordinance,
and a sum equal to ~ por cent OF its
gross earnings annually during tho
second period Of five years aiIer the
passage OF the ordinance and after
len years tho said company SHAH pay
annually Into tho treasury OF the ci.y
license tax equal to two per cent OF It's
gross earning. and for the purpose OF en-
abiing the City Council to arrive at tho
amount OF said license tax, eaid company
shall make to tho City Council on the LIST
day OF January Of each year, statement
verified by tho oath OF some ofhcor OF
said company showing the gross earnings
OF ,aid company, from all is lines IN tho
city Tor the year immediately preceding
the making OF such report.
AN INCREASING CAR TAX.
Hardy introduced the following
Amendment which the chair ruleu
out Of order, OIL the ground that twas
~ s.conn substitute. tue iifst being mat
OF Mr.. Mainland which was calculated
W take me y ace OF an amendment on
the same proposition which was OIL
fered by Karrick on Tuesday night
That the Salt Lake City HALLWAY COM
pany shall pay as special TAX so por
car per year ON each and every car for a
period Of three years, and $40 per car on
each and every car Tor tho next three
years thereafter and $50 on each and
every car for and during the balance OF
the life OF this franchise.
A motion was then put and carried
adopting wantland's motion.
TO CORRECT MEASUREMENTS.
At this junctuTe Of the proceedings
communication was read from the
company correcting mirstatementr
made by some Of the councilman on
Tuesday night.
Tbe communication stated that In
stead OF the gross earnings OF the com.
pany being 100000 last year they
were $282,bi4; the operating expenses
were Slss, 760, leaving rs net earnings
S78,74S; but OF the last named sum tht
company was compelled To- pay Interest
upon It's bonded indebtedness, which
left the actual net earnings about si6,'
600; a further deduction should also be
made for wear aud tear upon thu
track, which Is usually placed Mt IL
per cent.
With reference to the amount that
the franchises could be bonded for II
was stated that bonds had already
been issued to the amount Of s66O,0JC
and no more, this company having
been given authority to Issue bonds Il
the amount OF sl,5OO,0OO. Under any
circumstances the company could mo-
float bonds to exceed 100000 per mile
which would limit the Issue to $40, OOI
at the present time.
Inlregard to the matter OF paving
attention was directed to the fact tina
to pave the twelve new blocks nov
ordered by the city would cost then
$4,000. II South Temple is pave'
west from West Temple this woul'
necessita,e mn additional expense o
about s63, 900, making a total OF Sll6,
900, not including new material, etc
which would make the bonus Tor ia
franchise $4,000 instead OF $50, 600
Ms stated by the Council. Filed.
JOINT ARRANGEMENT.
Moran moved that whenever th
City Council shall find II necessary {
desirable to grant to any other stree
railway company n franchise over III
streets herein granted, to secure sue
other company u connection with mn
important center or terminus, III
grantee herein shall allow Tunnir
arrangements over grantees tracks
such other company where RAJ
grantee have double tracks upon sue
other company making equitable pa.
ment for constructing, mainIainiI