Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-24
tax. Elk these railroads." said Mr.. Nc
CarthV. "before they fix you"
REFERS TO OTHER CITIES.

REFERS TO OTHER CITIES.
The increased value of the franchise
would more than cover the deprecltuOh
account Mr.. Mccarthy quoted figures 70
show that New Orleans took the gam
of the railroads and capitalized 1t at
per cent, and deducted the assessment
then taxed the company on ITS property.
Nashville he said, pays on the market
value of the stocks and bonds. Louisville
XVI railroads pay $4,000 year, ana
the taxes derived from tho franchises IS
1000 Baltimore railroad pay per Cenl;
Of their gross earnings taxes on reI anu
personal property % YAK on es.cl ~ w., lie
81 on each pole. The plan proposed by the
Finance Committee was an average Oh
per cent? per cent less than l'dlililv e,
without pole or car tax. NeWdth tail"ds !
nav per cent. of the gross receipts ana
properly tax. St. Louis railroads pay ON
eros receipts. real and PERSONA properly
tax. Sls6OlO a year. Buualo, y. J" I'M
posed a percentage and real estate taA'
Mayor Harrison Mr.. Mccarthy Quoteu
a. saving that IL the street railway COM
NAMES in Chicago had acquired the IRAN
chiees thcv sought they would nave
pocketed almost at once on completion OF
the road 100000. -, A..
"If Won PASS this ordinance" said air.
NfcGoTtbv i'm conclusion, "and put I'm it
what the Finance Committee has recon-
mended. the roads will pay absolutely
nothing more nor less than the property
tax" A.. ,toc,r-
MfFGUlInt
thv argued that no parallel cOulq Dr ta-
tabiiehod between tho city or New VI
leans and Richmond. II was chua pay
TO compare Baltimore with hIcHilltt .i.,
No figures had been adduced from C,tar
81 about the same size as TINS. no
F,inance Committee he cOntended, al
Given no reason why the great burdens
proposed to be placed on the railway
companies Of Richmond should be I'M
posed. u,.,.,, ,-r,,,,e, 1-rUv-
City-Attorney Pollard said the question
under consideration was the taxation OF
tho Richmond Power Company, ana NOT
the Traction Company. The Richmond
Railway and Electric Company was pay
ing $500 less 10 the city each yea tidh
IN would pay If IL paid tax on It's pro-
perty. This committee mas no llsnt'
he said TO pay a bonus OF S,ZJJ TO n
company to run a street railway IN TINS
city" All taxation should De uhiiVrHss
and ad yalorem, and the committee hdu
mo- right to make the taxation on TINS
cornpauy less than the tax laid on other
peoDle. Mr.. Pollard met the oDJeclou
that no parallel could be- drawn between
Richmond and cities or larger size 10y
dividing the per capita. Baltimore ger
s2i8QOO a year from her railroads; Bur
falo. $4,000; Cincinnati, $4,000; cleveland
sfe 600: Detroit. $500: Philadelphia, $50,
90: ST. Louis. $5jOO0, Montreal. $)zO1V
The plan proposed in Richmond woulo
| give a per capita tax of y cents or ~
cents less than is imposed In tine cues
mentioned by striking an average. III
Baltimore the equipment of the street
railroads was of the very best, yet III
| spite of the taX-sO much heavier tnan
| that proposed I'm RichmOnd-there had
| been not the slightest ditlculty Ia bohd-
| ing the road -
COULD NOT RUN UNDER IT
Mr. Newton said that not q dollar in
| terest had been paid on the stock or tf'
| Richmond Railway and Electric Com
panv. IL was the first electric railway
' iuilt I'm the United States. Investors ~
! IL had now 10 face q loss OF % TO 40 PEI
| cent III the bonded indebtedness or th'
| road is put at S2,5OOO0O, as proposed, az.
the road has TO pay per cent, Oh ~ j.,
| GLOSS receipts and a tax OF SID on IL
! plant. the road cannot possibly be run.
| Mr. Martin followed, I'm reply TO ih'
| CIV Attorney. The per cent. propose
| was a constitutional tax. and the city wa
| not obliged TO levy a Sl.4O tax.
Mr.. Pollard, he said, had not met IN
| argument that no city IN the Union I'm
| nosed a tax on the railroads equal 10 th
| tax proposed by the Finance Committee
ANOTHER SESSION TO-DAY.
The committee adjourned until o'clocl
| this evening. counsel for both cOmpanIe
| SecIaring that no further statement
! would be- made, and Captain McCaftny
| ON behalf OF the Finance committee INA
ali argument had been submitted. IT.,
Mr.. Ebel submitted an oIuli,anI,, , ~ a.,
1vas subsequently, Withdrawn, proVldin
For a tax OF 81. 40 on all property or III
comoanv. and 5 per cent. or the srVa
receipts the city expressly reserFlhS III
right to increase the TAX every zen go g.
This ordinance will be submitted py Mi
Ebel this evening, ana II appe"iS ~
resent in large uesIee INV
| - 81, committee.