The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-04

speak until today about it. and 1 want
to &C on record as leaving 1t where it
is. The street railway company has
hard time to get along, and when
the matter comes up I want the
privilege of voting to leave it where it
stands"
MIR. LAWRENCE STOOD PAT.
When the governor had finished his
speech, Mr.. Sprague moved that the
assessment on wagons and carriages
stand without change.
That covers the street railway COM
pany," said Mr. Cooley.
Il have read the article in The
G o e. said Mr.. Lawrence, land it
does not influence my action one way
or another 1 think the railway COM
pany is assessed too low in both coun-
ties, especially when I see their cars
returned at SO and wagons and car
riages at $42"
wagons and carriages are assessed
at $53.62 in Ramsey county," said Mr..
Gordon
ON that account" continued Mr..
Lawrence, AZ believe the assessment
should be raised"
Mr.. Fiddes moved that the item Of
franchises, annuities and patent rights
ir the aSsessn. ent tables be passed.
Mr. Lawrence moved that the COM
pany's assessment in Ramsey county
be raised &c 2-3 per cent, and in Hen
nepin county 39 1-3 per cent on article
"a of the schedule which includes fran
chise in HenEepin county, and tracks
in
total assessment on that article In
Hennepin county is $360,000, and the
Ramsey county $175, 900.
The proposed raise would increase
the assessment on that schedule to
S49O,OOO and $292,333 respectively, or a
total of $7S2,333, an increase over the
present assessment of $127, 1893.
Mr.. Gordon objected that the tables
from which the assessments were read
were unofficial and'not worthy Of no
tlce by the board, which had no right
to act upon them.
1T would crafty me-" said Mr.. Cor
don, ''if there was no raise. We have
to take account Of the expense under
which the company has been during
the past year. 1t has built an extern
sion Of its system, which does not add
to its material value. It's total assess
ment this year was 81, 800, 600. No one
has feeling that the company should
De made to pay more taxes. Gov.
Clough has spoken very forcibly."
GEN CHILDS' WORDS.
THE returns quoted are substantial
ly correct" said Attorney General
Childs, in reply to Mr.. Gordon. "It
was furnished by the company, and
should be used as a basis Of valuation.
Ihe most valuable part of the COM
pany's property-its tracks through the
irwin Clties-are going substantially
untaXed. In one city it pays $3.50, ,0O0
In both cities it has over 100 miles Of
track. If they were assessed at $1,000
a mile, it would not be excessive I'm
couotedly the road has had hardships,
put L do not think it Is taxed in pro-
portion to the value Of It's property"
L offer another objection to raising
the company's taxes" said Mr.. Gordon.
Inc increase proposed is excessive un-
DER any circumstances. The expense
1t has been under makes it still more
excessive The joint assessment In the
two counties is $1,000, 600. 1 think q
~ w - e1AAo 90 10 per cent
enormous and out of all proportions"
This brought Attorney General Childs
again to his feet
The company's statement Of earn
ings last year." said Mr. Childs, "show-
ed that it's gross income was $1,000
l2O9S, and its net surplus, after deduct
ing operating expenses, interest ON it's
bonds and dividends, was $235, 1873 IA.
The assessment, made by the assessors
was far below what that statement
warranted-far below the value which
would yield such an income at legal
interest. There is not another interest,
property or taxpayer, that would be
treated in that liberal manner Not
one Of you would dare ask 1t or ex-
pect it. The question Is: What Is a
fair valuation-what should this COM
pany pay?"
During Mr.. Childs' speech Gov.
Clough sat working his fingers i'm.
patiently, and when Mr.. Chflds resumed
his seat the governor demanded the
question. The board rose from the
committee of the whole in order to vote
by roll call. and the vote was taken
on a motion to pass the assessment as
it formerly stood.