The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-07-29
NOT THE INDIANA BOARD
VICE PRESIDENT BROOKS. OF THE
PENNsYLyANIA, AKE CHARGES.
Tax commissioners Of Another State
That Tried tO BIacLmniI the
Railroad Companies.

The State Board of Tax Commissioners
transacted more business yesterday than
any day since the session began. this prob
ably being due TO the fact that Saturday
is the last day for assessing railroads and
the end of the first session of the board.
the appeals from county boards of review
being next Monday and continuing fifteen
days.
A. l.. Talcott. land tax and claim agent
of the Chicago & Erie. complained of last
years appraisement of this road at s30.376
Il mile, and asked for a decrease of
$1,000 in the valuation this year.
In support of this claim Mr.. Talcott cited
the Indebtedness of the road as large and
stated that the Chicago & Erie had placed
with Grant & Ward s., 500, 900 Of bonds and
had received a loan from that firm of ST.
&c., 900. but that instead of holding the bonds
as collateral Mr.. Ward had sold them and
the purchasers (who were innocent in the
transaction compelled the payment: that
the road could be duplicated for two-thirds
of its appraised value, and that il does not
own its terminals. but has to pay out large
sums annually for this purpose; that for
the last five years this road has not had
net earnings amounting TO more than 43
per cent. of its appraisement.
Bennett II. Young, of Louisville, repre-
sented the Kentucky and Indiana Brides
Company and the New Albany Street-rail-
road Company. He stated that the earn
ings of the bridge company the last year
were only $4,000. 1t only cost $4,000 in 1886
originally. This property was assessed last
year at 1853, 600. Mr.. Young asked for a
substantial reduction. and he also COM
planned of the assessment of 800. 900 of the
street-railroad company at New Albany,
and asked that it be reduced to $50. 900.
r. p. Refenbenick. tax commissioner of
the Cincinnati. Hamilton & Dayton Rail-
road Company. was next. He thought this
road should not be assessed at over $2S,O 900
"A mile; that this would be all that it
should be assessed in accordance with its
earnings. He stated that the c.. II. & L.
was not a through line, and has no terminal
facilities either at Cincinnati or at Indian
apolis.
j.. T. Brooks. second vice president of the
Pennsylvania lines. the lines which consti-
Deared before the board in the afternoon.
Mr.. Brooks. while waiting for the free
silver Governor to appear. paid his respects
TO the free-silver movement. He said IL
was one of those periodical %outbursts that
1t seems the American people cannot get
along without. and likened il TO the green
pL0h az vi bl1EAlI NtIIo tx Il SlluE
The Pennsylvania Railroad Company en-
ployes $1,000 people. all on a salary. and
u at a man working on a salary wanted 10
be paid In the very best money that he
could get; that Their employees. for that rea-
son, were not in favor OF depreciating the
currency In which their salaries were paid.
Mr.. Brooks paid a tribute TO the State
Board of Tax commissioners of Indiana
and said that while the members had not
always agreed with him. still he felt that
Ii was an honest difference. He stated
that the State Board or Tax Commissioners
of another State tand he mentioned the
State. adding that he was not afraid to
proclaim II from the housetoDs) had sent
a representative to him and the reoresen-
tative OF these tax commissioners had made
an out and out proposition that for a con-
sideraticn they would reduce the valua-
lions OF the Pennsylvania Company In that
State.
Mr.. Brooks took the position that a rail-
read should be taxed on it's gross earnings.
because there are so many ways of com
putting net earnings that there would be no
uniformity on that basis. He said that no
Indiana was not assessed at over 20 Der
cent. of its value, and II that were true
the Pennsylvania lines should not be as
sessed at over So. 427 a mile on the GA miles
of road i'm Indiana, instead of s36. O0). as
valued by the board last year. Mr.. Brooks
is very clear and forcible in his temen
several railroad attorneys being present to
hear what he had to say. Much work is
laid upon the State board to euuitably tax
the eighty-five roads of the State. with a
variation in valuation of from 5000 a mile
for some roads to $4,000 a mile for the
Pittsburg. Fort Wayne & Chicago. the
highest valued road i'm Indiana. and which
constitutes a class unto itself. The Lake
Shore x Michigan Southern and
value per mile and then come a number of
roads constituting that large class of WELL
TODD roads. such as the Nickel-plate. Pan
handle. Big -Four. Baltimore & Ohio. Grano
Trunk and others.