The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-08-20
SOME RAILROAD FACTS TO REMEMBER,

This paper has for long time been
trying to interest the people in the
proper regulation and proper taxation
OF railroads to the end that they should
be taxed like all others and be required
to make their rates as low as the rates
in other States.
Judge Simonton's usurpation of power
has aroused deep public interest on the
part of the people. His injunctions
against the reduction of the freight
rate on fertilizers and against the right
of the Corporation Commission to assess
railroad property for taxation have
aroused the people and they are trying
to get at the facts Here are a few
which ought to be kept in mind:
/. When the Carolina Central obtain
ed its injunction against the reduction
of passenger rates, it claimed that it
was worth 50, 600. When it with the
other roads, obtained its injunction
against an increase in the tax assess
ment. it contends that the road Is
worth not more than S2,646,000. The
last convention virtually destroys any
hope of winning in the fertilizer injunc-
ton suit.
2. When the Atlantic Coast Lime paid
its stockholders a dividend of 135 per
cent in the year 1898 it was heralded
far and wide that it was the most pros
porous road in the country but when
the Railroad Commission in the same
year reduced the passenger rates and
this year increases its tax assessment,
it protests vigorously that it cannot
stand either.
3. In 1894, 30, 90 and 81 the South
ern Railway reported that there were
outstanding on the Western North Caro-
lima stocks and bonds to the value OF
$4,000 per mile. When attention was
called to the fact that it objected to a
valuation for taxation of one-tifth of
that sum, it reduced the amount in its
1899 report to $4,000 per mile. What
has become of all that water? In 1894
it reported that on the n. G. Railroad
the salaries of general officers was $40
900. When comment was made that this
was more than the State paid all the
officers in the capitol, this item ''swunk"
Chronicle it reports great prosperity and
enhanced value of property. In North
Carolina it brings Simonton over here
to issue an injunction against a tax
levy that is only one third Of the
money value" of the roads they own.
These are a few facts that throw a
flood of light upon the present contro-
yersy. These are samples. There are
plenty more that might be given.
In 1891 when the Railroad Commits
sion was organized all the railroad
property was assessed at only $4,000,
900. After the Supreme Courts decis
ion put the Wilmington and Weldon
road on the tax list, the Railroad Com
mission increased the assessment to
$16,000,000, and since then inch by
year it was S32.000,000.
There are 3,640 miles of railroad in
North Carolina and it is taxed upon an
average of $4,000 a mile. In Tennessee
there are 5000 miles and ii is taxed on
an average at $4,000 per mile. or ut
S55, 100000 against $4,000 900 in
North Carolina.
lit is because the people are coming TO
know these facrs Jhat uhe suDsidizec
newspapers and hired lawyers have lost
the confidence of the people. The yat
ers understand that they are paid to de
nounce all men as 'demagogues" who
stand for justice and right toward cor.
porations as well as individuals.