The Providence news. (Providence [R.I.]) 1891-1906, 1897-03-25
The Commission Gives a
Public Hearing.
Copies of the New Tax Bill
Agreed Upon Presented.
Radical Measure and Completely
Changes Present System.

The commission on the revenue OF the
state held brief public hearing at the
State House this afternoon.
Senator Freeman, chairman Of the COM
mittce, produced copies of the act recon-
mended by the commission, entitled
"An Act In Relation to the Taxation of
Railroad Corporations. He also said that
as Vice President Hall OF the New York,
New Haven a. Hartford Railroad COM
pany was unable to attend the hearing
and the present act was the only measui o
the committee had for public considera-
tion at present, the hearing would be
postponed until April o.
Section first Of the act recommended by
the commission provides that the Lieu
tenant Governor General Treasurer and
the State Auditor shall be the tax commits
sioners of the state, and shall exercise all
the powers and duties conferred upon
them by this act subject to appeal as
hereinafter provided. said commission
crs may employ such clerical assistance as
they may require at an expense not to ex-
ceed $500 in any one year.
Sec. 2. That every railroad company
shall annually, between the 18th day OF
July and the 18th day of September, re-
turn To- the tax commissioners under
oath, the amount of capital stock OF the
corporation its place of business, number
of shares and The total value of its rolling
stock and other property on the first day
of June, the amount of its bonds, rate OF
Interest of its bonds and also an account
of all its machinery, real estate, subject
Co local taxation, and the amounts for
which such property Is assessed in the
several towns and cities, and the return
must also contain return of the whole
length Of its lines in, within and without
this state.
The tax commissioners are to ascertain
10 ..fg Il
corporation and shall make an estimate
of the fair cash value of all the shares
comprising its capital stock and the same
shall be deemed the true value OF Its capi-
tai stock on the 30th day of June of the
then current year. :.
A tax Of one and one half per ISN'T. shall
Inc paid by all railroad corporations on
the aggregate value of its shares first de-
Quoting upon railroads wholly within the
state an amount equal to the value OF
their property subject TO local taxation,
and also In addition 20 said amount, such
portion of the whole valuation of their
shares of capital stock, ascertained
aforesaid as is proportloai to the length
of that part of their line without the
state
Chairman Freeman said that similar
act would be drawn up providing for the
taxation Of street railroads and that II
was the purpose of the commission tO
provide for the taxation Of every quasi
public corporation. The act in regard Ia
railroads is similar To that in Massachu-
setts, where every corporation, public on
private, pays tax There Will be no
tax on private corporations at present.
Under the heading of corporations that
will he taxed are gas, electric lighting
companies and water supply companies
W. w Blodgett of Pawtucket suggested
that the people Of Rhode Island did not
know what taxation was.
A citizen who was present was very
anxious to have the Union Railroad Com
pany taxed, and he said they could not be
I taxed too much