New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-15
OBJECT TO VALUATIONS.
ONE OF THE TRANSIT COMPANIES
WANTS A REDUCTION.

PRESIDENT RosslTER REPRESENTING T"o
OTHERS BEFORE THE BOARD OF ASSESSORS.
DECLARES THAT THEY SHOULD NOT BE
ASSESSED ANYTHING.
The Board Of Assessors gave hear'ns '
day on the application of the Brooklyn wy i'"'
road Company for a reduction on us assesseo
valuation. and also on the application OF the
Brooklyn Heights Company for reouct'oh OH us
o.s...sa valuation from 500. 900 to nothing. The
same company also controls the nrooA'"'
oueers County and Suburban road, which Is as
sessed at S5OOOO0 and upon which similar re-
auction "a asked. The hearing upon this. now
ever. was put down for later date
President Rossiter Of the Brooklyn Heights
Company was examined by Assistant corpora
ton Counsel Breckenridge with reference 10 'he
statement which the Brooklyn City Company
had submitted to the Board Mr. Noss.'c' ee
Some interesting facts as to the life" of various
things that go to make up the equipment
tro,,ev railroad The best steel rails are good for
eighteen months; car we'll equipped ana caIeu
for will last from eight to fourteen years and
u,,.or ,,,obt last twenty years. but during that
time It would need to be practically rebuilt Last
war the company had spent about S5OO.OOO upon
measurements much OF It in Queens County.
This amount was divided up as follows: For new
motors and cars. 100000; for new feed WIRE
s-5 OOO. for new car bodies, S15OO00, and the
balance for other equipments. Mr. Rossiter also
stated that the mileage value Of the various sys-
TENS which they control is $4,000, based on &C
tual cost In conclusion, he said addressing the
Board
1--WE are not trying to evade the payment OF
taxes. The company has paid In the last year
large sum of money for Improvements, similar 10
those about which other companies were pelng
sued for. We feel that we are entitled to reduc-
ton Our sworn statement was made fairly and
honestly and we are ready and willing to give in
addition any figures or other information that
might be wanted We do not wish nor expect any
different treatment from that given to citizens or
CORPORATIONS assessed on $1,000 or $lOOOOOOO
We pay large amount of taxes, and pay them
promptly"
General McLeer, chairman Of the Personal
Tax Committee, answered Mr.. Rossiter as roi-
lows: I'VE have treated your company as all
other corporations are treated. Tn posltioh YOU
take before the Board this year IS tnls' Eas'
wear after careful consideration OF the wnoie
subject the sum arrived at for assessed vaiua-
ton was 81 $50 600 on the capital stock or your
corporation. Upon that sum you paio taxes.
This year you come before the boaro anu ~. Vu
ject to paying q single dollar on THIS coIpora.ion
"A healthy corporation that pays net dlVi-
dend of 10 per cent on its capital STOCK. You
don't stop ct this, but you insist on reauc-
ton of every piece Of real estate owned by your
corporation. -, 80. ..,,, .ho
nresent management should be held responsible
for the action Of its predecessor II ne mao peen
here last year he should have taker the same
position he did to-day He was then prleny
examined as to the Brooklyn Heights Railroad
company and the whole matter was referred
to q committee