The times. [volume] (Washington [D.C.]) 1897-1901, 1898-03-15

were called upon TO enact new Legislation
/ which would simplify existing laws and
. regulations upon which the assessor %
the District of Columbia Is compelled 10
[ base the assessments of these corpora
tons and to equaIize and adjust the inc
qualities now existing as between the diff
I ferent street railway corporations.
This bill provides:
First that there shall be levied and coll
lected annually a franchise tax of five
I eighths of / per cent Of gross earnings up
on all of the street railroads within the
District OF Columbia.
Second. personal tax of I per cent per
annum on their gross earnings upon the
Metropolitan Railway Company. the Cap
ital Traction Company and the Columbia
Railway Company. which are the only
corporations operating street railroads
and now earning sufficient to pay divi-
dends on their stock
Third, a personal tax Of 2 per cent per
i annum upon gross earnings of all other
! street railroad companies within the Dis
{ trict of Columbia whose earnings are not
stock
Fourth that the real estate Of all street
railway corporations shall be assessed in
the same manner as all other real prop
erty within the District of Columbia
The results of the proposed change
would be to yield an increase in taxes OF
collected as taxes from these corporations
for the year 1898. One-half of which IS pay
able in November. 1898. and the other in
May. 1899 The fluctuations viii show that
on these ten street railway corporations
/ based upon their reports of gross earn
{ ings, etc, for the year 1897 there viii be
collected, according to the present meth
od of assessment. S95. 929 q, whereas. ac-
cOTding to the present bill. there would be
Z collected S119 1898.
Mr.. Babcock. Chairman OF the District
Committee. declared that the proposed
plan would increase the revenues Of the
District $4,000 a year.
Mr.. Hepburn of Iowa asked TO have
the bill laid over. proposition that Mr.
Babcock earnestly objected to. Mr.. Hep
burn said the bill did not present fair
method of taxation. He declared the Cap
ital Traction Company is capitalized at
So. 000 COO The stock is valued in the mar
ket at S9.000.0O0. This value stands for 81
G00.009 in property and 100000 for the
I franchise. Under the proposed bill the
{ company would only pay taxes to the
amount of $500. If the franchise paid
taxes at the rate of the other property il
would yield 0000. He declared the pro-
posed system of taxation TO be made
quate.
When the bill to define the rights of the
purchasers of the Belt Railway came be-
fore the House Mr.. Hepburn of Iowa Of
fered an amendment providing for the
consolidation of all the street railways in
the District under single fare. The pro-
visions of this bill have been printed in
The Times
The amendment of Mr. Hepburn was
bitterly opposed by Mr. Newlands of Ne
vada, and also by Judge King OF Utah
When voted upon it was defeated by a
large majority. The bill was then pass
ed without opposition
The bill to amend the charter of the
lexington and Soldiers Home Railway
I and the Maryland and Washington and
the Belt Line Railway created but little
discussion Gen GrOsvenor Of Ohio Of
fered an amendment. which prevailed, to
the effect that the companies must pay
/ all arrearages of wages before the char
ter can go into effect. Other amendments
provided for but one fare TO be charged.
and that the road shall be thoroughly
equipped with the underground electric
/ system within the limits of Washington.
| The bill was passed.
\ measure that viii be Of great interest
TO business men of all classes was also
passed by the House Ii was entitled
Negotiable instruments in the District
of Columbia" The bill filed fifty printed
pages and was very minute as 70 detail
1t is similar in character to the system
which has been for several years in
/ operation in New York and several other
States The bill describes how a prOmis-
| sorry note shall be drawn, the responsible
[ " OF the maker and indOrser; defines
4 notes that are negotiable and those that
/ ara not; declares that a signature by
/ ''prOcuratiOn' operates as notice that the
[ agent has but limited authority TO sign
and the principal is bound only in case
I the agent in so signing acted within the
/ actual limits of his authority; that the in
/ dOrsement or assignment of the instru-
ment passes the property therein The
Il
I collation. the rights of the holder; la
/ bilities of parties; preseatment for pay
/ ment; notice of dishonor. and de-
Scribes bills OF exchange. their form and
/ Interpretation. Defines what acceptance
| and protest are; payment for honor; bills
in a set. etc. The bill had been recon-
mended by many boards of trade and
| chambers of commerce IL was intro
/ duced 10 the District Committee by the
I Local Committee of the American Bar
Association in the District.
/ Other bills passed were as follows: Au-
( thorizinS the Public Printer TO use GER
| tain Government telegraph poles on
| North Capitol Street: 70 extend the char
! ter of the Franklin Fire Insurance Com
/ pany. and 10 punish the carrying or sell
| ing of deadly weapons within the Dis
| trict of Columbia This bill provides that
! persons in the police court of the District
i of Columbia in cases in which the only
Il fine not to exceed $50 may give security
for their appearance for trial or for fur
/ Their hearing, either by giving bond 70 the
satisfaction of the court or by depOsiting
money as collateral security in such
! amount as the court may direct. Also
that in all cases in the District OF Co
| lum6ia where a defendant Is sent 10 Jail
or 10 the wOrkhouse in default of the
payment of q fine he shall be released
upon the payment of the balance of the
fine due by him. after Crediting thereon
as paid an amount equal to the proper
ton of time thus served by him in the
Jail or workhouse bears TO the whole time
he was TO serve under the sentence
Senate bill 2164. providing for the relief
of the heirs of Pom X. Sob. deceased.
was passed by the House and viii become
law. The details of this bill have beeR
told il The Times.
DISTRICT LEGISLATION.