Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-24
ON THE TAX QUESTION
CONTINUED FROM FIRST PACED

CONTINUED FROM FIRST PACED
The company owned sixty-nve miles of
track within and sixty-eight miles with
out the CITY.
THE INDIANAPOLIS ORDINANCE.
'In addition 20 the above. we ask You
10 consider the ordinance granted By the
CITY of indianapolis in 1892 This ordi-
nance was shown to your subcommittee
as a wonderful proof OF what street rail-
ways can be made to pay. II was at first
stated that that city. of 10000 inhabi-
tants. had sold It's franchise for over
100000. When the ordinance itself was
examined. It was seen that 4 only re-
quired the payment to the ci1y Of $4,000
a year for twenty-seyen years, and 5000
for seven years. II your committee will
make a still further examination into the
real effect Of that ordinance you will find
that the annual amount of 5000 Is only
a little more than 3 per cent. or the gross
earnings Of the company Tor the year
ls9l-'9S. The August number OF the flnan-
cial Chronicle gives the gross earnings
of that road for that year m $N8.9t4 IL
is evident. then, that indianapolis only
gets per cent of the gross earnings
while Richmond gets, and viii get, per
cent or lNe flOSS earnings. u' NittNNt
received by the western city cannot in
crease. as IL is fixed az $4,000. while the
amounts received 10y Richmond are
obliged TO increase from year 10 year"
In conclusion, MT Meredith made an
earnest appeal 10 the committee not 10
burden the street-railway facilities. lie
advocated the imposition Of a conserve
tive tax. Jt was unfair. he cOnteude T.
90 increase the taxes. In view OF inc
statement the Traction Company had
presented Especially would IL be un-
just 10 impose additional burdens, with
out making an examination or the DOCKS
of the Traction Company, In order 20
verify the statement.
I'VE have been absolutely unable" said
Mr. Meredith "tO find any city where
the burdens imposed equal those imposed
IN Richmond
MIR. HARDWICKES FIGURES.
Mr.. Hardwicke. chairman of the Finance
Committee. followed. He dealt at the
outset with the Indebtedness of the Rich
mond Railway and Electric Company.
The bonded debt was s2.69OVO. the hoat-
ing debt was 10000; the amount OF stock
Issued was 100000. The road COST
ebout &. 00f0O. and The speaker conteHded
that the balance of the 100000 repie
scented the value of the franchise. The
FINANCE Committee recognized that tina
street railway companies were Tor the
benefit of the public they We're also lQr
money People did not invest Their
money for nothing The streets of Rich
mond had cost thousands and thousands
of dollars The city proposed 10 give the
railway companies valuable rights, "hlcl
would enable them 90 Issue bonds 10 me
extent Of s260eOl0. so the city was GER
| tatulv giving "A very valuable prlViles.;
Tbe FINANCE Committee thought inc
| civ should derive some benefit from IT,,
/ fect that the population of the city VIII
| continue TO increase. and as 10 increases
| the profits of the railway companies WIZ
| also increase. ..-...,-r->.,,
CAPTAIN MCARTHY'S ARGUMENT.
Captain Carlton Mccarthy, the city Ac-
countant. followed along the same me
! Genital he said was cautious. as MT.
| Newton had remarked, but cdpltal H'-
| vavs demanded blood. The plea or ne
! ccs.itv advanced could not be sustained
] because other enterprises could lay Clnlli.
| IN the same consideration. ana the street
! railway had its road-bed given 10 II tree
! where steam railways had 10 buy lheii
! roads. and coal mefchahts pay lelt
! rates. and taxes. ut. hc' htlny al 80
| that Mr. Bemls. while complaining or TN
! hurden OF the half-rate tickets TO work
| inelnen when he was asked II ne Wou.
| Wke 40 be relieved Of this burden py =
member Of tho Finance committee ue
cined, after emOarrassiheht' .,,.o,
! Mr.. Bemiss was not IN the room Mhef
| This statement was made, but Alr. Mere
| dith denied It's accuracy. Mr.. McCart'A
| said ne could produce seven very creilbI'
| witnesses. me buIAfn VI AhliNAANe'
vas "A voluntary burden. Mr.. McCarthl
cborged that the 10000 Of stock or M
| Richmond Railway and Electric Cpmpan,
I'os Given away in blocks, and ne coz
| ,ended that the company had no rlsh
| ~ exDect 10 escape taxation 70 mas
| eood mis- stock The Richmond RalW9'
"a Electric Company had paid TO ~
citv ~ Richmond last year Sn,g tax
80 Sl 500 go capital. Captain McCarth
o-olre very strongly. He was interrupte
49, ar twice By Mr. Meredith, but IN
letter gentleman was not allowed =
49, INV lengthy reply TO any arsi
ment Air Mccarthy INTERPRETING tiers
nrfticisrns OF the statements and denials
and Mr. Meredith at last TOOK MS sea
nrotesting against Mr.. McCarthys st~se
ment .. .,,rup,c .,1,
DEPENDS UPON CHARTEiPS AGE.
Touching upon the comparisons wit
o,her cities. made by Mr.. Meredith, Car
| 80, Nfc1,arthy contended that eVerytmh
SSa,n,nded on the age OF charter. only
90, cities. ne argued had dlscoVere
mat railway companies are WORTH IN
,rraction Company owns 100 Feet or valt
IL fona In THIS city, on which they don
49, cent of tax The widow and IN
arSbsn were compelled 20 pay taxes, an
whv not the railroads. Inc hichin ION
fredericksburg and Potomac me me-
railroad property in America, ola hot pa
| ,he CITY any tax at all, yet IL owns M
= town in the West End, ana IL eouiu pu
M as much more property, ana oepIII
| the city OF it, resources from pr"S'''