The San Francisco call., 1897-07-23
Railroad Men Ask That
Their Assessments
Be Reduced.
Only One Little Line in the
State That Seems to Be
Prosperous.
The San Francisco and San Mated
Company Wants a Show With
Its Competitors.

SACRAMENTO, CAL, July 22.-The
State Board OF Equalization had busy
session to-day and listened to the tales OF
woe as related by several railroad repre-
senta.ives of decreased valuations, loss of
traffic, wear and tear of track and rolling
stock, all OF which they contended went
to prove that their assessments should be
materially reduced. There was one ex-
ception, however, and that one nearly
paralyzed the members of the board, who
rarely encounter such an event, and even
caused Beamer's gray locks 10 assume an
additional tinge OF whiteness, while Presi-
dent Warehouses; face became ashy gray.
The exception was George Fletcher, secre-
tary of the Nevada County Narrow-gauge
Railroad, and all he asked was to be let
alone. The road, which is twenty-five and
a half miles long, is assessed al $4444 A
per mile, or 500, 600 for the road. Mr..
Fletcher explained that two years ago the
roads assessment was raised, ard while
its business was increasing it had suffered
a loss of $4,000 through the burning of
bridge last year and desired to even up by
not having any additional assessment
tackled on.
w. Clayton, secretary of the San Fran
cisco and San Mateo Electric Railroad,
made an able argument in favor of reduc-
ing the assessment on that pro operty, in
the course of which he stated that the
property was worth $40, 311 Sc This esti-
mate, he said, was based upon an original
valuation sworn to on July 25, 1895, by
Sanford Bennett, the receiver OF the road,
under certain litigation then pending.
Mr.
said, was in his opinion carefully made
and based upon solid facts and the
figures submitted this year are practically
the same after allowing a reasonable sum
for depreciation, wear and tear, except
the valuation on the track. Last year the
track was valued al $50, 729 believing that
its efficiency would be exhausted by the
first Monday in March of 1897. This was
on q basis of a valuation OF $4,000 per mile
when it was new, and taking the life OF
the track at five years. The road was first
operated in April, 1892.
"On July l. 1897. we commenced to pull
up the track" SAID Clayton, Its efficiency
having been used up. This work would
have commenced in A pril last but for un-
fortunate circumstances that necessitated
de ay. We have valued tho track this
year at $40 900. This is arbitrary valua-
yiously reported to your board. While
we are already engaged in the reconstruc-
ton of the roadbed, we know that we can
not com olete all of the work within
IN elve months from the frs Monday in
March, 1887, and therefore shall be COM
PEELED to use q good deal of the old track
during portion of the year 1897. We
have therefore placed the valuation on
the track at $40, 900, believing that is its
outside value.
LAS matter of fact, the actual value of
the track does not exceed sic, 900 for all
the 20729 miles, including all the rails
ties nuts, bolts, copper wire and poles
without dollar charged off for the labor
of wrecking and hauling. If we were 10
charge off the labor and hauling little
would be left," Clayton added.
According to Secretary Clayton's state
ment the company values its franchises at
$500, its 20. 729 miles of roadbed at $50, 900
and cars and equipment at $1S,8l1 So
making total of SAC, 311 56.
When questioned on the subject he ac-
kuowledged that the road had sold for
$300,0 900 IN June, 1896 but explained that
it had been purchased by two OF the prin-
cipal stockholders, and would not have
brought h.-lt that figure had it been
bought by outside capital, and concluded
his argument by saying:
Last year we submitted some figures
showing that, according to the assessment
OF other San Francisco street railroads
and their com parative market value in
stocks and bonds, this railway was paving
on valuation that was more than double
that OF any of the other five companies.
Notwithstanding some changes have
been made in the assessments both on
our own and other street railways we
know that to-day these figures are not
materially changed, and that we are still
paying 100 per cent more, in proportion 10
market values, than are other street rail-
ways IN San Francisco"
President r. D. Fry and D. A Bender,
assistant general manager of the Alameda
and San Joaquin Railroad better known
as the Corral Hollow" road, appeared