The San Francisco call., 1896-07-19

, company had declared that the road was
worth several millions more than the
ca pital stock at that time.
When Clunie had finished his examina-
tion of Assessor Siebe E. Black Ryan
spoke in behalf of the railroad. To sup
port his contention that the railroads as
sessment should be reduced to 81. 032, 600
he called II. ii. Lynch. the superin tendent
of construction of the Market-street Com
pany, and questioned him as to the cost of
construction of the various roads in the
City.
Lynch had constructed twenty miles of
the cable roads and all of the electric roads
of the company. The Market-street sys-
tenn proper had been originally constructed
at cost of about S150000 per mile, aggre-
| eating IS, 873 900. The roads were not con-
structed economically, Lynch declared,
and could be easily duplicated now for
1000 mile, total of 81, ,032,000. The
Ferries and Cliff House line, originally
costing 81 ,567, 600, could now be built for
I $69S, COO. The Omnibus Cable system.
which had cost $2,175, 600, could be put in
operation now for $s45, 600.
The company also expends great deal
of money on street work, Mr.. Lynch de-
clared. On many of the thoroughfares
that its cars run on the company has to
keep half the street in repair. About
seventy-tlye men are thus employed by
the company all the time and often more.
In fact, very often the company had more
men busy on street work than the City
| had.
In building roads the company often
had to raise the level of streets, and this
was quite en- item of expense, in fact, this
often amounted to nearly as much as all
the rest of the expenses of construction.
While it was true that bonds of 81, ,OON, 600
mad originally been issued, nevertheless,
| the whole system could be constructed
now for 100000 Money had been
wasted in every direction, Lynch affirmed,
in the original construction. For instance,
they now bought cement for 81 10 per bar
rel which they had then paid "a and 50 q
! barrel for.
In regard to the value of the stock,
Lynch knew that as matter OF fact there
was little sale for it and that the high
market value assigned it was based upon
the sale OF only lew shares. At the con-
clusion OF superintendent Lynch's testl-
mony the board adjourned until l O'Clock
at the opening of the afternoon session
the application of the Spring Valley Water
Works for reduction from s., ,549, 265 to
81. 549, 265 was heard The reduction was
asked on the item of franchise which had
been assessed at 50, 500, 600. According to
the sworn statement of William BROOKS
the company's agent, the franchise was
worth only 81 800 900, at which 1T had been
| previously rateQ Oy the supervisors III H4-
ing water rates for the present year. The
matter was taken under sdyisement.
James K. Green appeared in behalf o1
the Edison Electric Light and Power Com
pany to ask reduction from 100000 to
$3.50, 600. The company was assessed al
$Z5O,OOO last year and the Assessor made 4
raise of $450000 on account OF the appre-
citation in the value of the stock. The mat
ter was taken under advisement.
Edward Owens appeared to ask reduc'
ton in the assessment of the property oi
the Fair estate. The following reductions
were asked on the various lots of land de-
scribed below:
Twenty-seven pieces of property, consti-
tutlng the Fair seawan property, from
$l2l, 800 to $S9, $50. Denied.
Twenty one pieces of property in the
business portion of the City, from 81, 29O, :
lo0 to 81, Ia $50. Denied.
Three Western Addition lots, from
$24 4,310 to $21, 400. Denied.
j. b. Crockett of the San Francisco Gas
Light Company urged that, in view OF the
depreciation of real estate values in this
City and the fact that the gas company
had voluntarily reduced its rates from
- to 81 90, the assessment of the real
| estate OF the company should be reduced
| from $6l8, ,270 to 1871, 600. and on the i'm
! provements from 81, 1888, 700 to 81 ,00U 00e-
The board took the matter under advise.
ment.
The application of H M. Wolley for a
reduction OF the assessment on eleven