The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-11-14

RAILROADS. SIDE.
Equal Taxation Commits
sioneTS Have Another
Hearing in Jersey
City Today. j
cRlTlcIzING THE CITY's FIGURES
Counsel for the Railroads Claim
They Pay More Taxes Than
the Cities.
CRITICIzING THE CITY's FIGURES

The Equal Taxation Commissioners met
IN Chancery Chambers his morning for
the purpose of hearing the railroad law
yers c-ross-exanine Mr.. Edlow W. Harri-
sons figures showing a comparison of
valuation of land of the railroads and
canal property In Jersey City outside of
main stem as assessed by State Board of
Assessors in 1895 with valuation based on
assessment on adjacent lands by local as
SCISSORS.
Besides h Commissioners, w. H. vre-
denburgh, General Rushing. Charles c.
Black and ex-Sheriff Reynolds, there were
present representing the railroads.
Messrs. J.. B. V~redenburgh and Charles B.
Thurston for the P. r. r.; William H.
Corbin. Lehigh Valley; Flavel MCGEE, d.
L. & w. r. r.; James H Allen, Erie;
George de Forrest, Central; w. D. Ed
wards n ex-Judge Blair. Jersey City.
and Assemblymen-eIect w. Klink and l..
F. Goldenhorn. who were seeking equal
taxation inspiration for vigorous on
slaughts during the coming term.
At the hearing last Saturday counsel for
the railroads Insisted that Mr.. Harrison
had o-ver-assessed second class property
in his table of figures submitted to the
Commission showing relative values. An
opportunity was afforded these gentlemen
to criticize these figures this morning,
they didn't allow 1t to slip. In the tenn
porary absence of Acknowledgement
Stockton, General Rushing presided.
Mr.. James B. vr~edenburgh opened the
proceedings by questioning Mr.. Harrison
on his assumption that all railroad pro-
perty IS assessed at its full value and cor
responding real estate is assessed at 60 per
of its value. Mr.. V~redenburgh
claimed that Mr.. Harrison should nave
taken out the main stem and then multi
plying that by three would give the true
value.
Another thing I complain Of is that in
the report the total value of the real es-
tate of individuals in New Jersey is fixed
at 1892, 000. 900. and that is 60 per cent. of
the true value. All right, but when you
to Mr.. Harrison's figures he figures
the real estate at ss7Ss, 600, 600. Which table
Is correct? We stick to the figures in the
State Assessors report, sss2. 900, 600, and
we say Mr.. Harrison's figures are not cor
rect"
Our contention is that Mr.. Edwards
and Mr.. Harrison in giving the total
value of individual, real and personal
deducted s45. 600, 900 for debts from the
flgures $S32, 900, 1000, assessed by the State
Board. Now the railroads have no deduc-
tons for debts. Is that fair?'
whether 1t was true railroads don't pay
their fair share of the taxes. The rail-
he said, paid 500. 81 more than in
taxed for franchise, as railroad property
you make a mistake in your figures"
interrupted Mr.. Edwards. I'm estimating
the value of your franchise
No" replied Mr.. V~redenburgh, 'the
entire railroad property Is estimated ar
$4,000 600 and the franchise is estimated
Included we would. in addition to paying
for franchise such a sum in excess of in
diVfouals nave to pay a great deal more
than So, 81 per year to the State"
said Nj. Edwards.
NO, you say they are our figures, but
are not returned Mr.. ~vredenburgh.
pays more than the individual"
Mr.. ~Vredenburgh then dived into the
vexata queStio of personal axation and
wasa proceeding to point out that
and suTetfes when their real estate was
taxed; but Commissioner G.. C. Black said
that was not so and he instanced the
and banks.
1.-The railroad tax law, as I understand
interposed the Attorney General. lis
that the stock and bonds is exempt from
taxation, being intangible property. The
use stock as a means to ascer-
tanning the property. of the company"
COMMISSIONS Black demurred from this
view He commended that # q person had
one hundred dollars of stock IN Lorfl-
bard's Company. he knew Of no law
which exempted that stock. That was a
different tax than. that levied on railroads
IS one-half of one per cent on
their personal property. The discussion
became general as to the taxation of
and bonds in railroads and manu-
featuring corporations.
Zone reason the personal property az
railroad property IS taxed and that of an
Individual is not is because the former is
tangible and the latter is not" said Com
missioner Black.
Counsellor Sheppecotter, Of the Lehigh
Railroad followed Mr.. vreden-
burgh, and he proceeded to pulverize Mr..
estimate of the values of rail-
road property with State. HIS formula
for Strengthening out the tangle Of fig
ures was, he said, to equalize first values
and proceeded to do so by a series of as
sumptions based on the report of the State
of Taxation. He quoted real estate
authorities who said that the property
Newark and Jersey CITY. the two
cities in the State, were assessed
at about S3R to so per cent, while other
places We're lower. Much of the property
declared. alongside of railroad prop
srty in some of the counties were taxed
1t as low as 10 per cent The Mayors Of
and Jersey City have declared he
said. that the assessments were NOT All
Up to 50 per cent, and that figure selected
1y Mr. Harrison and Mr.. Edwards were
BASED on an unfair assumption. On the
contrary go per cent. is the maximum. and
rs low as 80 1-3 per cent.
Remember this fact" INTERRUPTED Mr.
Edwards, ssthat one-third of the proner-
lies in Newark and Jersey CITY. and |
hat IS taxed up to full rate
An adjournment was taken ar one