The record-union., 1894-09-08

THE INCREASE OF SAN FRANCIS
CO.'S Ass EsSMENT AND THE S. p.
COMPANY.
The press of San Francisco Ia fond Of
declaring that the action Of the State
Board of Equalization in raising the as
sessment on San Francisco fifteen per
cent. benefited the Southern Pacific Com
pany by hundreds of thousands Of dol
lars"
When misrepresentation is abroad,
there is nothing more valuable than to
take up the whole subject, meet it face to
face and permit the actual state of the
case to confirm or deny the proposition.
The statement that the Southern Pacific
Company is to be benefited by an In
crease of the assessment upon the city of
San Francisco should be treated in this
way.
II In what follows any paper published
In San Francisco or elsewhere, or any
citizen or officer of the State can gainsay
single fact, our columns are open 10 its
publication If any paper or man can
successfully refute the truth of any state
ment herein made, we will frankly and
freely confess our error, and as frankly
admit that our antagonist is right.
First. them. the increase of the assess
ment of San Francisco does not affect
city or county assessment, or taxation, in
that city. 1t exercises an influence only
on the State rate. This is true, and no
one will have the hardihood to contradict
1t. Second, the rate Of State taxes, had it
not been raised, would have been fifty-one
and one-feurth cents. This is in accord
anee with the fact. Third, after the
raise of 15 per cent. on San Francisco's
assessment, the State rate was forty-nine
and three-tenths cents. This is as carti-
lied by the State Controller. The differ
ence in the rate is one and eight-teaths of
] per cent. Keeping in mind the fact
that the raise in the assessment of San
Francisco does not affect county or mu-
nicipal taxation or any other taxation
than that levied by the State for the sup
port of the State Government and it is
easy to determine how much the South
ern Pacific Company is to gain by the de-
crease from ffty-one and one-tenth cents
on the S1O0 to forty-nine and three-tsnths
cents on the S10O.
The State Boards assessment on all the
railroads comprised in the Southern Pa
cifie group was S35. .0OO. 900. The differ
ence between the amount which the
Southern Pacific Company must pay If
San Francisco's assessment had not been
raised and what 1t will be now is one and
eight-tenths of per cent. on $35, ,000, 900.
The simple arithmetic then shows that
one and eight-tenths of per cent. of SS5, :
100000 is $500. The gain to the Southern
Pacific Company-and we invite the con-
sideration of all the journals and all the
people Of the State to this declaration
was $500. But the Southern Pacific in
corporators own property in San Fran
cisco and their assessment in tn at city
was increased Is per cent. by the action
of the State Board of Equalization.
The Southern Pacific people-that is
to say. the principal owners of the
Southern Pacific Company, as In
dividuals, are the principal stockholders
of street-car lines and other property as
Eessed for $4,000. .0oo. Let this not be mis-
understood. The stockholders who are
the owners Of the Southern Pacific Com
pany own property in San Francisco
which is assessed at S1o.o0o,000. The in
crease Of fifteen per cent adds to the
amount of taxes they pay in consequence
of this increase of .739 Of one per cent, or
This far we find that the Southern Pa
eific Company will save little less than
two-tsnths of one per cent. on $4,000, GOO;
but will be subjected to an increase Of a
little ever ssvsn-tenths of one per cent
on $40, ,0O0, 900. The increase of the assess
msnt due to the raise of San Francisco's
assessment by the State Board Of Equal
azation will be 1886.
Lest the waytsring man, though fool,
should err in these figures, We repeat:
The Southern Pacific Company issss-
sessed for S35, 100000. The increase of
San Francisco's assessment by the action
OF the State Board reduced the aggregate
amount that the Southern Pacific Com
uany must pay Sc, 300. The Southern Pa
cific Company practically is assessed in
San Francisco for sl0,OOOso 600. and in COM
mon with other taxpayers was subjected
to the increase of fifteen peg cent. which
increase on the assessment they must
pay in that city amounts to 1885. Here
we have loss OF 1885, against gain OF
$1,000. subtracting the gain from the loss
end the act Less IL sllQaA Thsrsfsrs shs