The Caucasian. (Clinton, N.C.) 188?-1913, 1897-07-08
me RAILROAD COMMISSION
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Ths RailreoA Co0nie8io0 Oee ID
THE city laSs week Twe topcetoes
ooeseions aso oofoee the CoO0teeteo
foe eoosi1eeaeioo. Ooe b - seooos
pasoengeR and fPeigk1 Fa1oA. oDd ehs
ether o . iooRoaso he o1oooee4 volo-
asjoo q eailFooA oo0po0ie0 Ter eaxa-
tioa. Amer soOe ,0oi6eeatioo CoO-
aissionsP AhNoe o6eeeA The follow.
iag rseolatioa which Vos aA0pte4:
Wn1a1As, TIE RailrooA Connie
siooeRs Are required b. laW . plaoe .
valuation upo0 ~ SailrooAs 81 North
Carolina for tie asoess0eee Of taxoo;
and whereas, the aid RailrsaA Con.
misss0oess desire - ascertain % eoy
sors equitabls DethoA Of valui1G
aid property than he's hseseo(oes bes0
pursued, can b foas6, and Whseeas.
the Commisssoness also desire % -
certain II any more equitable freight
Snd passeneef tariffs than nov exist
can b put II force.
Therefore b IL resolved, That ths
representatives. Of The Different rail-
road companies of the STATE are re-
quest<d y appear before the Railroad
Commissioner on Monday, 18th day
Of July, 1891, and there show eause In
writing, II any they have, Why very
the railroad proHefty for seseesoeat
Railroad Commissioners, sitting q Q
Board Of Appraiser and Assessor,
and Why Fevision Of the freight and
passenger tarifIs shall nos also be
made.
"Orde1ed further, That the Hon.
d. L. RUSSELL, Hon. Walter Clark, Hon.
Josephus Daniels and other interested
citizens are respectfully invited 70 BE-
present ct the hearing above cited and
present their views or any information
Or facts they may b In posaeesion Of
them touching the question at issue"
Commisoioner g. Otho Wilson offer
ed the following for oonsideFation ut
the next session Of the Commission
which will b on July l3tk.
"Resolred, That in asaessing railroad,
steamboat and telegraph property,
both franchises and tangible property
be assessed It such 1GuFes - are Just
and reasonable both to the State and
to the oompaniea.
THAT the valuation Of such fran
chises and property shall b an
amount appe0xims te to . principal
which, at per cent per annum, would
yield the amount Of the net earnings
Of such property.
"Tbst whatever sum such franchises
and property may earn - income
from operations, shall be considered
- interest on given amount Of val.
uation, and Whatever sum the net
earnings Of such franchises and prop-
erty will pay per cent Der annum
upon, shall be held to be the value Of
such franchises and property for a.
sessment. Provided: That in cases
where franchise or property or both,
whose income from operations does
not equal the ply steal values on the
basis Of per centage ah0ysd named,
such franchises and property shall Be
aseeaeed Ut suoh values - said prop-
erey 10 worth - items, viz: Value Of
iron, ties, structures, etc.
"That In calculating net earnines,
no operating :expenses she'll BE- oen.
:.dered unless the total charges for
TIE current yeas shall b In proper
t,on to the life Or duration Of proper
* JAosUAo0 49,.
10 llustRate, II road 100
miles long shall In oae year
Ay - miles Of 20 pound steel
rail, the life q sane beine 50 yearo,
only avsmiles shall be charged 70 oo-
Grating expenses unless some other
department Of improvements shall be
less than the natural wear and tear
Of said road"
The valuation Of the railroads now
J: $S9 600 900. II Mr.. Wilson'S resolu.
ton 10 adhered to Il would increaee
the valuation to about nfty.four MIL