The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1899-01-14

different railroad corporations
when the road was being bull
had mistaken idea that tho -
Of Incorporation under which
were building entitled them "a e1
tiop fram faxes. They there's
formed Of themselves a Financial
movement Company another artlh9
person, and contracted with IL, there
taking the money out Of one OF thel,
p9ckets aud putting it In the other
ibev Issued bonds and gave them 70
this financial company, o. themselves,
tp the amount Of twenty Thousand dol
lars a mile, aud claimed 30 be exempt
from taxation until per cent DIVIDEND
was earned on this twenty thousand
dollars a mile. The cost Of constitute
tiop was not more than half that
amount. The records in the auditors
office show that il was assessed IN
1908. at ten thousand dollars a mllei
including station houses, ia Coahoma
county. and seven thousand five hun
dred dollars a mile, including station
houses in Tunisa county, Tor leYee
taxea. have not examined the as
pessment Of other counties. III IS tho
best paying road in the state, and II
h. If value equal to every dollar spent
In its construction.
In addition 10 the twenty thousand
dollars a mile bonds, they gave to the
Financial Improvement company--to
thamselges-three hundred and NIFTY
thousand dollars Of the bonds OF Boll-
var county, and OF the cities. Of Green
willie and NicKsbuTg, as a bonus GOOD
faith, indeed
Here are two Of the items Of cost OF
construction: -. oo,
. r.. Il. Wilson'S commissions Si36, 600.
Original cost of venture, franchise
etc, sllj, 3i467.
r. 4. Wilson was the president OF
the railroad company, and 1t is I'M
poesibIe to conjecture how commits
sious paid him could be made cost
lin the construction Of said road
The net profits realized by the rail-
road company as shown in the SUIT to
which the state was compelled to re-
sort were:
For 1892 ..................s 59l, $3.50
For 1893 .....,..,,........ j. NV % W "
For 1871. ..,....,-....''. 90 80 % o. ~
For 53j.................. lOie,o't'Vo
And this when the same company
wued this aud the l. c. road, and
we're interested 10 giving all Of the
business possible 70 the ]. c. to keep
rom aprearauce q earning per cent
dividend. More cuttou was shipped
over the &. IL NJ. V. because more IS
made there, but how about trelghtf
The plea that the l. C.. company has
been lavish in its Investments IN Mis-
sissippi is not good, They have not
been as lavish in investments of their
means for Mississippi as the man VINO
has cleared a farm and settled home,
or the aborer who has invested his
toll: for out of their abundance the l.
G.. company cast in, while like the
widov who gave two mites, out OF
their penury these lahoring people
have least in all the living that they
had.
JUDGE WHITFIELD'S OPINION.
Bv an unanswerable opinion Judge
Whitfield demonstrates that the rail
road company is legally liable for
taxes; by the find of jury, the rail-
road company bias long since earned
Der cent on the cost Cf construction OF
the road; the large property they nave
in this stGte-not fer charity OF tho
state, but for revenue for their golfers
is protected by the laws of the state
and by several elements OF fairness
they ought to pay their own taxes
Mr. Smith was so unfair and IN
candid as to say that | stated in my
speech at HazlehuTst that l had com
PEELED the Y. Il NJ. V. railroad COM
pauy to pay back taxes. | Will give