Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-12-21
BRING IN REVENUE.
MN. sAuNDERys MEASURE DESIGN
ED TO EFFECT THIS END.
WILL AFFECT Big CORPORATIONS
A Hoard OF Assessors and Appraisers
10 Assess the Property OF Ieie-
phone, Telegraph, and Express
Companfes-whstt the Act Provides

Hon. T.. w. Saunders has introduced
q measure in the House that VIII revoiu-
tionize the methods Of assessing the pro-
perty of telephone. telegraph, and ex-
press companies. and will bring upon the
| tax-lists a large amount OF property
which now evades assessment.
The Board of Assessors and APP
praisers created by this act will not be
| confined to assessing the visible tangible
property OF these companies, but will be
| enabled to reach and assess that por-
ton of the entire capital which may be
| considered as localized in this State.
MIR. Saunders, in speaking of the mea-
| sure. said: "As has been declared by
| the Supreme Court of the United States,
! whatever value property has for the pur-
noses of sale It. has for taxation, and
| If. as the results of the use OF tangible
property in connection with its iran
| chises. a company creates a valuable In
tangible property, then that property is
n legitimate subject of taxation, and
should be reached. The object OF my
bill is to reach this property, and as the
nrinciple of my measure has been sus-
tanned in the courts, 1t appeals with
force to the General Assembly for adop-
| ton"
| THE measure, as revenue-getter,
| promises TO be a success, since IL Will
| decidedly increase the amount OF taxed
| property in the Commonwealth.
The hin provides that any person or
persons. joint stock association or cor
poration, wherever organized or lncor-
| norated. engaged in the business OF coh-
veying to. from, or through this state
or any part thereof, money, packages
gold, silver, plate, or other articles oy eA-
press, not including the ordinary Ines OIL
| transportation or merchahulse anu pio
nertv in this State, shall be deemed 10 De
an cypress company. Any person or per-
sons Joint stock association, or corpora
tion wherever organized or Incorporated,
engaged in the business OF transmitting
TO. from. through, or in this state tele-
| o-raph messages. shall be deemed to be
| telegraph company. And any person or
| nersons Joint stock association, or cor
poration. wherever organized or lncor-
norated. engaged I'm the business or trans
hitting to, from, through, or in this state
| telanhonic messages. shall be held 10 De
a telephone company.
EVERY such company doing business IN
this State shall, annually, between the
1st and 18th of May, under oath, make
and file with the Auditor or Public Ac-
counts a statement in such form as the
State Auditor may prescribe, containing
the following information: The name OF
the company, its nature, ana location vi
principal office; the name and post-ohce
address Of the officers; the nufnper vi
shares Of the capital stock the par value
| and market value thereof; Or IL there De
no market value. the actual value OF It's
| shares OF stock as OF February lst; ue-
tailed statement OF the real estate owned
nv the company in Virginia, where stu
| ated and the value thereof as assessed
for taxation; a full and correct inventory
OF the personal property, including moneys
and credits owned by the company IN
Virginia on February LIST, where situated
and the value thereof: total value or the
real estate owned by the company stu
ated outside of Virginia; the total value
OF the personal property owned by the
company and situated outside OF Virginia.
HOW THEY WILL BE TAXED.
Tn the case of telegraph and telephone
conpanies, the whole length OF their lines
and the length OF so much or their INES,
as is without and is within the state OF
| Virginia, is required TO be gwen, Whlch
limos shall include what said telegraph
and telephone companies control and use
under lease or otherwise; also, the miles
of wire in each city, county, town, and
| school district in the State. In the case
of telegraph and express companies, tns
entire gross receipts or the company from
} whatever source derived for the year
ending January 31st, OF business wnsrever
} done.
) In the case of telegraph and express
2 companies. the gross receipts for the
wear ending January 3lst, from whatever
source derived, Of each ofnce within th'
State of Virginia, giving the location BY
school district of each office, and th'
: total gross receipts OF the company foi
such period in Virginia. In the case o.
express companies. the whole length o.
the lines of rail and water routes ovel
which the company did business on thu
LIST day of May, the length of so mucl
[ | OF said lines, whether land or wate
TRANSPORTATION, as is without and Il
within Virginia, naming the lines in Vir
, ginia, and showing what proportion there
, of is in each county, city, town, an'
, | school district thereof.
, Blanks for making the different state
ments shall be prepared, and on appli
|
Auditor of Public Accounts The Audi
tor OF Public Accounts, the Governor
!, and the Treasurer OF the Commonwealth
shall constitute a board TO be known a
the State Board OF Appraisers and AS
SCISSORS, OF which board the Governo
I shall be ex-officio president. In the AT
, sence or inability OF the president TN
1 members shall appoint one OF their mum
Der president pro tempore, and the tw
acting together may exercise the entir
powers given by this act TO the full boarC
I DUTIES OF THE BOARD.
y The said board shall appoint secre
tary, and shall annually, on the thir
: Monday in May, beginning with tn
{ year 1893, meet in the Office OF the Aud
tor OF Public Accounts for the purpos
OF assessing the property OF express
!. telegraph, and telephone companies
the State OF Virginia. Called meeting
:. Of the board may be had at any time an
place indicated by the president, at whic
sessions they shall have the power I
: do any and all things which they ma
:, do at the regular annual meeting.
= At the annual meeting, the Auditor
=, Public Accounts shall lay before III
!, board the statements and schedules n
;, turned TO him pursuant TO the provision
. Of this act, and the board shall then pr,
coed to ascertain and assess the Walt
Of the property OF said companies.
determining the value of the propert
II OF these companies In this State to
taxed within the Commonwealth, ar