The record-union., 1897-07-23
DOESN'T WANT A REDUCTION.
THE NEVADA NARROW GAUGE
STANDS PAT.
Reductions Asked by the Corral
Hollow, Carson & Colorado and
One Other Railway.

w. Clayton, Secretary of the San
Francisco and San Mateo Electric Kali
way, was before the State Board OF
Equalization yesterday morning, ana
submitted reasons why the assessable
property of the corporation ought TO be
reduced from $4,000, the amount as
sessed last year, to $40, 800 this year.
Secretary Clayton stated that in 1879
the assessed valuation of the road was
100000, but that ever since its con-
struction it had been losing venture.
His estimate of assessable value is:
Franchise, 81 500; roadbed, $2oOOO, and
81 cars and one extra car, $1S,S1l.
The road was built in 1892, according
to Mr.. Clayton's statement, and as the
life of the original material is estimated
at five years, the company on the first
of the present month commenced to lay
an entirely new track The old track,
1t is contended, is of no value except for
Junk. and the reduction is asked for that
reason.
The road, while but twelve miles in
length. has switches and spurs that
bring the total length up to 20.10 miles.
The real estate is valued at about $50
600, bringing the entire assessable prop
erty of the corporation, according to the
figures Of Mr.. Clayton, up to a little over
$50, 900
The board took the matter under ad-
visement
CORRAL HOLLOW ROAD.
In the afternoon, r. D. Fry. President,
1cld D.. A Bender, Assistant General
Manager of the Alameda and San Joa-
Quin Corral Hollow Railroad, We're be-
fore the board. The road they represent
is new one. and has never before come
up for assessment. The gentlemen ex-
planned that the Corral Hollow coal mine
must be taken in conjunction with the
railroad in the matter of fixing the as
sessable valuation. They submitted that
as yet shareholders had regularly paid
assessments, and while it was hoped
that in the end the property would pay
dividends, it certainly is not doing so at
the present time
They submitted that the assessable
value Of the road is not over $1,000 a
mile. The road is thirty-ive miles long.
The board took the matter under ad-
visement.
CARSON AND COLORADO ROAD
Upon conclusion of the hearing of the
der called up the matter Of the valua-
tiCn of the Carson and Colorado Rail-
read, acting under instructions of the
President of that corporation.
The road in question is situated in
Inyo and Mono Counties and 107 of the
800 miles of track are in those counties
In 1896, Mr.. Bender explained the board
had fixed the assessable value at S.
137 IA, and that the earnings of the line
were growing smaller each year. The
net earnings of the road, he said. for the
fiscal year ending June 30, 1896, had
been sd, 331 90 and for the calendar
year of 1896, ST, 1S7 80. He submitted
that practically, the road is being
operated at a loss, and contended that
the earnings Will not pay for wear and
te ar of the stock. The net earnings for
1896 he said, will not pay one-half of
one per cent. on the original cost of the
road. He stated that the section of the
road which lies in Nevada, and which
is more valuable than that in California,
was assessed at 81, 800 and 81 800 mile
and he requested the board to reduce
the assessment for the present year to
the latter figure.
NARROW GAUGE.
George Fletcher, General Manager of
the Nevada County Narrow Gauge Rail
road, claimed the attention of the board
after Mr.. Bender had finished, and re-
quested that no change be made from
the figures of 1896
The road, Mr.. Fletcher said, had had
a prosperous season. and had added
somewhat to its stock but had lost
about $4,000 by the burning of bridge
which necesstated transferring all
freights and passengers by means of
wagons. He thought it would be I'M
just to increase the assessable value
which had in 1896 been fixed at S4,-
AL A per mile. or 100000 for the %
miles of track.
The board will not make known the
assessable valuation to be decided upon
before the last of this month
1t is thought that the representatives
of no other roads will come before the
board until Tuesday next, at which
time the San Francisco and North Pa