The Irish standard., 1899-03-25
REFORM POLICIES.
The Twin City Rapid Transit Railroad
Company.
St. Paul, March 20, 1900.

St. Paul, March 20, 1900.
With the legislative session making
the turn toward the home stretch, the
tension draws tighter and tighter, as to
what the record for the whole will be.
1t also brings those specially interested
to the anxious seat. The law crop is
certain to be as short as the ice crop
is long. There will not be the usual
bills either introduced or passed, into
the hundreds. Indeed, it looks like the
shortest long session, in that respect,
since the state grew to greatness"
The wind-up will come Wednesday,
April 70, when members will draw bal
ances for ITO days, though the statutory
limit is ninety legislative days." and
put the difference in the wallet along
with the mileage, while having passes.
Such is life sin the big cities"
a good thing to keep in mind, against
the next meeting OF the state board of
equalization, is the annual statement Of
the Twin City street railway company,
which last year defeated the attempts
to have the Republican board raise its
taxes i'll proportion to its profits. It's
stock has taken a high place on Wall
street lately. and big figures OF the prof.
its to owners OF that stock are given
out
The o8 statement shows total receipts
from 5 cent fares, $2,145,oo2o5, an in
crease OF 100000 Net earnings $780,
22o.I4 All increase OF over $4,000.
The company's debt on both Mime
apolis and St. Paul systems being bonds
at five and six per cent, is $40, $4,000,
which the annual interest was $548,-
400. The capital stock outstanding is
$2,462, 900 preferred, drawing per cent,
and $I5,o1o,ooo common, the holders OF
which own the company Twin City
Rapid Transit). Out of the net earn
ings the debt interest, $s48,ooo was paid,
and that ON the 7 per cent preferred
stock, the total interest paid being $7I3.-
454.o7. The sum OF $64,2I4II was paid
in taxes, being over $4,000 less than was
paid in 1897. The whole leaves surplus
OF $373,6ss.6o for the year, which is an,
increase over the surplus Of the pre-
ceding year OF $4,000.
The company has paid taxes on val
uation OF $1,426,6o5, lin both Ramsey
and Hennepin counties, for all its prop
crty, shown to be l22 miles of railway
in Hennepin and IoI in Ramsey, its
franchise untaNed in the former, and
valued at 5000, 1000 in the latter. This
meager valuation the Republican board
OF equalization refused to raise. The
company's present schedule gives the
total value of the company's property
in roadway, securities, current assets,
notes and bills, cash in bank ($225, ooo)
stores, material, ETC., at 3o,3oo,71o.o2.
1t has paid an average OF 6 per cent on
stock and bonds aggregating $13,ooo,o 900,
and left common stock surplus OF
$4,000 Or, take it another way
its net earnings would pay nearly 4 pei
cent on the total OF its assets and re-
sources. Shown to be worth $50 ooo, 900
its taxes are on valuation Of less thar
$I,soo,ooo. The company convinced The
Republican board last year-as it ha'
just about convinced St. Paul that i
could not afford to give three cent fare
that its whole plant could be replaced
for $1,000, 600, yet it earns 4 per cent o,
$4,000 600, has actually paid large inter
est on $4,000, 900, and left 100000 sur
plus. The people pay this on franchise
they themselves made a present to tn
! company.
/ With w. r. Merriam census superin
tendent, ex-Labor Commissioner Pow
ers chief statistician, and with Moses E
Capp candidate for the gubernatoria
nomination. there is a rise Of Merriam