The San Francisco call., 1897-07-27
AFTER THE Big
MONEY FARMERS
Board Of Equalizers Ques-
tions Corporation
Managers.
Those Who Earn the Most Make
Many Excuses That Their
Purses Are Empty.
Fruitless Queries by Doctor Clinton
and His Inquisitive Associates
of the Board.

The Board OF Supervisors met as
Board OF Equalization last night and heard
the report of its committee on assess
ments, also the excuses of various cor
purations for making small reports and
Tor asking for reductions on the small as
sessments already reported.
The most humorous feature of the en-
tire proceedings was the farce enacted by
the alleged examination OF the affairs OF
the San Francisco Gas and Electric Com
pany. J. b. Crocke t, the manager, was
on the stand, following an accusation of
NJ. NJ. Estee that the company was as
sessed shamefully low and that its rate
was only IS per cent of the true value OF
the property.
The board seems to be absolutely help
less in its examination OF MANAGERS, and
Dr. Clinton's questions as director-in-c chief
OF the examination brought forth no fruit
1t was shown that the property of the
company was worth about ST., 000 900, and
that It's assessment was less than $4,000
600, yet the company asked for reduc-
tIon OF the rate.
Questioned as to the reason for the re-
quest the manager said that the princl-
pal reason was tnat If all the stock were
put on the market 1t would not bring the
sum total OF its apparent market value.
MaYor Phe ali aid some very clever ques-
tIoning, by which he sought TO show that
if the pany's rule should prevail there
would be no rule by which even real estate
could be assessed.
The managers idea was that values
were altogether pro bic matical, and that
there could be no rule of values based on
the market eports. The case was passed
for consideration.
Manager Watson of the Standard Oil
Company swore that the company had
very little property IN this Clty and that
il had no franchise at all in the Stale de
said that il was the custom OF the COM
pany to remit 10 the New York office daily
and that 1t se.dom had more than lew
hundred dollars on nand.
Secretary Stevens of the Sutter-stree ell
Railway Company made showing 10 the
effect that the company was assessed 100
much and that its property was OF char
acter that was subject TO rapid deprecla-
tion.
On behalf OF the Western Sugar Rein
ery, J. ID. SpreckeIs showed tuat 1t owns
no properly, and that It's effects are all in
the name of the American and California
sugar refinery companies.
j. b. Stetson, for the California. street
Railway Com pany, swore that the assess
ments against his company were already
high enough and that the com pany's as
sels were all subject 10 great huctuation,
Nj. NJ. Estee appeared for the Mutual
Electric Company. He said it was paying
lar mere than any similar corporation In
the City, and that ii its rate were on the
same basis as the others it would be
greatly reduced. He said the San Fran
cisco Gas and Electric Company was
assessed at almost nothing, hardly 18 per
cent OF Its real value according TO the most
conservative basis of making an estimate.
The board took all the cases under ad-
vlsement and adjourned to meet this
morning.
The following was the report of the com
mlttee on assessments:
AT conference with mem bers of the State
BoHrd OF Equalization re atiye to assessed
values the State Board ave the statements on
which they raised the assessments 20 per cent
last year, consisting oil appraisements and
sales OF real estate made by order OF the Pro
bate Court. and large number of personal
property assessments Claimed 10 be improperly
assessed.
We found it impossible to persons1Iv inyas-
tigate, and we employed Charles Giidea TO aid
US. Alter Comparing the assessments win
probate sales lor the past eighteen mon tbs, as
reported by Thomas Magee We balipvn tho
assessed value OF real estate In proportion to
its cash value is greater than in other counties
OF the State. The value OF real estate in This
Aliy Is HOt 50 III BA dS IL was RenfS have de-
creased, houses are vacant and values are
lower, yetin the face OF these facts the Assessor
has increased the assessed va.ue of real estate
This year it is nearly 5000, 900 more than
last.
The assessed value OF personal property is
q about Sl5 100000 less than last wear due tn q
decreas in the assessment OF money aud
solvent credits TO banks. We submit the re-
port OF the Bank Commissioners at the close
OF business on February 81 and the state
ment made to the Assessor on Monday, March
l at II o'clock noon. There were but two