The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-14

The St Paul City Railway company IS
organized under the laws of the state of
Minnesota. and it issued capital stock to the
amount OF i've millions ($5, 0G0 000) of dollars;
ana the Minneapolis Street Railway company
Is likewise organized under the laws of this
state with issued capital stock of five mil
mons G5, OOO,C COO of dollars; and the Mime
apoHs, Lyndale Minnetonka Railway COM
pany is also organized under the laws of this
state, with issued capital stock Of three
dollars.
The Twin City Rapid Transit company con-
tro.s the st. Paul and Minneapolis companies
and operates the street railway system In
the two cities and counties. The stock of
the Minnesota companies, amounting in the
changed for SIS, &c., 900 of stock of the Twin
City Rapid Transit company, and Is valued
at Sl5,O0O. coo, as appears by the company's
statement. See financial statement hereto
attached)
INCOME OF THE COMPANY.
The gross income of the company in both
counties for the year 1897 was as follows
Hennepin county -. ...........$ 81, 49,, AT 43
Ramsey county 49,. ............ 815673 So
The total operating and al other
expenses for the same year. . LOOP $50 80
Net earnings lover one million
What is it that enables the street raiIWa w
company to collect from the people of the
viii CIIieS SucQ immense sums OF money :?
The records Of the authorities in the two
counties and cities show that 1t operates at
least rs miles of street railway. 1t is in
great many instances in exclusive possession
of the best streets in st. Paul and Mime
apolis. The use of the so-caled T rail for
It's tracks excludes wagon and vehicles from
that part Of the streets where the street
railway operates its lines Miles Of single
tracks and roads and bridges occupied by the
company, viz:
,,, Miles,
Hennepin county 49,. ....... 49,
Ramsey county ........ ................ 101
These figures are considerably less than the
actual mileage but desire to give the com
pany the benefit of the doubt.
The legislature In its wisdom years ago
saw the necessity of taxing such isstitutio9s
as the street railway and therefore provided
rnat the tracks, roads and bridges Of street
railway companies shall be assessed like other
PERSONAL properly. General Statutes Mime
sofa 1894 section 1872
DID the assessors of Ramsey or Hennepin
counties, or Of either of the counties in 1908
or at any time prior thereto ever Mace
one single mile Of street railway on the books
OF thelr respective counties for the purpose
OF assessing the same? MOI Recently n
member of the bar Of Ramsey county c31led
the attention of the Ramsey county assessor
TO the fact that the street railway has 1913
miles Of tracks, roads and brideeS'' in that
county and that the law requires the some
to be assessed, and the assessor is repoT,ted
IN The Daily G o b e to have said that he
oHu VIII not pay any attention TO
such information; and of course. his rec
ords disclose that he did not enter the same
on the tax books. S~''ife
The law requires that such corporation shall
ME statement of it's Property with the
assessor (Sec. 1900 The records of both
counties disclose that the law has not been
c co 4t with For if it were. the officer
OF the company making such report would Of
necessity report in such statement the most
valuable asset of the company taxable
VALUE OF COMPANY's TRACKS
1t is not at all difficult to arrive at the
value OF the company's 223 miles of track
OUT OF Whleh IT derives net income of over
one million of dollars annually; no more than
10 arrive at the value of farm in a primitive
country, or farm in a settled co1ntv Ii1fe
Goodhue county or the West Hotel in Mime
apols or the Ryan hotel at st. Paul-in all
such cases the assessor arrives at the valua
tlon based upon the character, location and
probable ni lie income of the property. The as
valuation by the size of the mortgage on the
property.
The company is bonded, according to its
own statement as follows:
ST. Paul system. & mo nm
Minneapolis system ............. < 29S 000
Collateral notes due Dec. 81, $780,. -. 10000
Paying per cent interest on 49,. 81. CAS- 900
Add thereto preferred stock upon
which 1T pays regular dividend of
per cent per annum ...., e97 ooO
$12,6S5, 200
II the company is able to raise ST.. 6S5 2Oo
upon such property and pay interest on mart
at the rate of per cent and on the residue
per cent per annum, regularly at the inter-
national exchange Of the world, in New York
surely its property in the Twin Cities must
be worth at least the amount Of such indebt-
edness. The company knows the value of its
property, and It's most valuable asset to-wit,
Roadway, equipment, tools, machinery and
real estate over fourteen millions (see its
( OF onrNf
Since we desire to ascertain the value of the
roadway in the two cities, and the same ia
not and cannot be taxed as real estate. and
1t owns considerable of real property allow
1t 81, 000 goo therefor and deduct the same from
the last item. leaving a balance of value
upon the personal property of S13 2SS 5S4 and
the assessed valuation of the street railway
personal property IN the two cities should be
based upon $13 288, 1884, and distributed in the
two counties in proportion to the earnings of
the company In the respective counties.
But the company will claim that the Iesi-
innate mode of taxation should not be an
piled to its institution. Upon what basis
such claim can be sustained is Incompetent
sible. Why the assessment of the county
authorities of Ramsey and Hennepin county
as hereinafter quoted, should be sustained the
company again can answer, and I would like
70 nave your honofable body, sitting in judg-
ment of this question summon the assessors
of both counties and require of them to show
cause why their figures should be confirmed
by you. % ~
Let us see what the assessment "a. And
that In the face OF the company's financial
statement the facts and the law, and the
assessors oath Of office. Assessment for 1885
Hennepin county tstreet railway. SIZE. $50
Ramsey county (street railway)...... 701 .175
Total .....Es -. So. ....... 81 426, sos
It matters not how the assessment Is ar
rived at by the assessors; but as a matter Of
convenience attach a copy of the different
items as they appear on the assessors or
county auditors books In both counties.
In Ramsey county the assessed valuation
upon the street railways personal property
for 1897 was one million dollars ($1 900. OO0)
| more than for 1898. 1t was fixed by the coun-
| ty board of equalization then, and this wear
the county board let the street railway as
sessment intact.
On the basis OF the present assessment
both counties would not collect more than
| $50. 900. Whereas the company should paw
| fully SITE 900. In the city Of Cincinnati. the
street railway has q gross income OF three
million $4,000 O00) dollars; one million more
than In the Twin Cities, and it's taxes and
assessment were last year $500, 900. In our
Twin Cities the company is supposed to pay
into the city treasury tax upon each car:
and while It has at least six hundred cars
in st. Paul, it pays into the treasury a tax
only on 185 cars at $40 each; and, the COM
pany's charter In St Paul, requires them to