The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-18
TAKE ON RAILROADS, TELEGRAPH AND
EXPRESS COMPANIES.

As noted by us heretofore the Supreme
court of the United States holds Tin the
case of Sanford VS.. Poe that IN taxing
corporations operating in several States,
as railroads, telegraph and express com
nanies each State is not restricted to
taxation upon the tangible property
within its limits but can assess and col
lect taxes for proportion of the value
of it's entire property which bears the
same proportion to the whole stock as the
business done in such State bears to the
whole business of the corporation.
An attempt to get the Supreme court
of the United States to rehear and review
this decision has failed. Justice Brewer
VIGOROUSLY the most pro-railrOad judge
ON that bench Except his uncle Judge
Field. the shameful Shiras" for ex-
cepted. in his opinion denying the re-
hearing says:
"It is a cardinal rule which should
never be forgotten, that whatever
property is worth for the purpose OF
income and sale it is also worth for
nurposes of taxation. In the city
of New York are located the
Headquarters of corporation
whose corporate property Is
confessedly of the value of $4,000
600. a value which can be realized
by its stockholders at any moment
they see fit. Its tangible property and
its business are scattered through
many States, all whose powers are In
yoked to protect its property from
trespass and secure it in the peaceful
transaction of its widely dispersed
business. Yet because that tangible
property is only $4,0OO,OOO we are
fold that this is the limit of the tax
ing power of these States. In other
words. it asks these States to protect
property which to it is of the value Of
$4,000, 900, but is willing to pay taxes
only on the basis of valuation of
$4,000, 900. The injustice of this
speaks for itself In conclusion let
ms saw that this is eminently a prac-
teal age; that courts must recognize
things as they are, and as possessing
yalue which is accorded to them In
the markets of the world, and that
no fne-spun theories about sltus
should interfere to enable these large
corporations whose business is OF nee
essity carried ON through many
States, to escape from bearing In
each State such burden of taxation
as a fair distribution of the actual
value of their property among those
States requires.
This ought to add a considerable sum
to our State Treasury and our county
Treasures too, by taxes collected from
a proportionate part of the enormous
capital stock of the Western Union and
Postal Telegraph Companies, the Ex-
press Companies, the Southern Rail
road" and other corporations operating
in this and other States with headquar-
tiers elsewhere.
Walter Page has shown us that we need
more taxes and we ought to collect the
legal taxes thus shown to be due from the
great corporations, and which they have
hitherto evaded, before laying further
taxes upon the masses.
1t admits of examination by the Treas
ury officials whether Fire and Life In
surance Companies and similar corpor-
atoms with enormous capital located In
Northern cities ought not to pay tax to
this State on a proportionate part there
of in accordance with the proportionate
part of the business done by them in this
State.
Is any thing being done to secure this
large additional revenue to the State
in accordance with the decisions Of the
highest court in the land?
If not, why not?