The Republican journal. [volume] (Belfast, Me.) 1829-current, 1896-01-16
The Decrease in Belfast's Share of the
Railroad FAX.

Some three weeks ago the city treasurer
received notice from the State treasurer that
the amount due the city on railroad and
telegraph tax would be 81 695 IA less for
1895 than for 1894. The amount received by
the city i'll 1894 was 81 ,5S2 IS, and in 1895,
s., ,SS7 Oh. Upon receipt of this information
the city treasurer notified the Mayor, who
Immediately took steps to ascertain the rea-
son for this large decrease, and accordingly
wrote Mr.. Hayforu, chairman of the State
Board of Assessors, in regard to the matter.
The reply from Mr.. Hayford was substan-
TALLY that on the first day of April, 1885, the
State Board of Assessors placed value on
the common stock of the Belfast & Moose
head Lake Railroad, S15 per share less than
i'll 1884, thus making a difference of $54O6O
(beng l per cent. of its appraised value) ON
the 1904 shares owned by the city. He also
explained that the preferred stock was valued
the same as 1894 and that the value applied
to the common stock was not intended to be
considered as its actual value, but its rela-
tive value as compared with other stocks,
the basis on which the State Assessors value
oVoNAo
This communication from MIR. Hayford,
therefore, accounted for $4,000 of the de-
crease, but not for the balance, amounting to
81, ,134 81. So the Mayor at once wrote Mr.
f. Nj. Simpson, State treasurer, for further
information and received in reply the fol-
lowing communication, which furnishes
very plain explanation of the matter:
STATE TBEA OEEJcp
AUGUSTA, Jan. 10, 1896.
Hon. L. +. Hdnson, BeJast, Ne:
DEAR SIR am i'll receipt OF yours of the
Sth inst, relative to the railroad and tele-
graph tax due your city for the year 1895,
and | viii try to briefly explain the matter
SO | believe you Will understand it. There
are thr"e principal causes why the tax for
1885 is 81 ,695.44 less than in 1894.
First. Inc reduction in valuation by the
State Assessors in 1895 of S15 per share on
the common stock of the b. & Nj. Il. r. ac-
counts for d portion of the decrease, of which
fact You are informed.
Second. The amount of tax paid to the
State by the NJ. Z. K. Il. Co. wast SIS, ,651 81
less i'll 1885 than the amount paid III 1894,
and therefore there was the proportional
part OF that sum less to be apportioned in
1895 than i'll 1894, among the several cities
and towns in which stock of this company
and of It's leased lines, We're held. This ac-
counts for another portion OF the decrease IN
YOUR tax.
Third. The Portland & Ogdensburg Il. r.
is of the leased lines of the NJ. G. r. K.
CO., but previous to the year 1885, no value
was placed on its stock by she State Asses
sors, hence no portion of the railroad tax
up to that time was apportlone'i, on ac-
count of this stock, to the towns where
said stock was held. But in the year 1895
the State Assessors placed value of $40
per share on this stock, and it then became
a factor IN the apportionment of the railroad
tax. There We're IS ,G5S shares held at that
time, in this State, and at the value placed
by the said Assessors, gave the amount of
So, ,i63 to be considered in the apportion-
ment of the amount of the tax paid by said
NJ Z. r. r. Co. for the year 1895. AS you
can readily see, this stock drawing its pro-
portional part in accordance to it's value,
would make quite little decrease in the
sum apportioned to your city, inasmuch as
Y, ur people hold but little of the stock of
the Port and & Ogdensburg Railroad.
| believe the above facts will explain the
matter satisfactorily to you, but if there are
any points which you desire more light upon.
please inform me, and 1 will try and give
you the desired information. If you should
be in Augusta at any time and will take the
trouble to call into the office, l believe we
could in short time make this matter clear
to you, if what have written does not do
So Yours truly,
F. M. SIMPSON, State Treasurer.