The record-union., 1899-08-02
EQUALIzERs' HEAR ROADS.
TWO COMPANIES ASK FOR
LOWER ASSESSMENTS.
Managers Claim That Time Has
Deprecated the Value OF
Their Roads.

AT a meeting of the State Board OF
equalization yesterday two railroad
companies submitted figures as to their
status and earningS-the Pacific Coast
railway and the Pajaro Valley road.
BY the statement of the Pacific Coast
Company the following facts appeared;
Length of sidings, track, and double
track, reduced to single track, go
miles; entire length of railway, 76.l
miles. There appeared to be ZIG pieces
of rolling stock, valued at sd $50
Earnings and expenses appeared as
follows: Passenger earnings, $40, 36510;
freight, $63 1851; mail and express,
So,392.63; miscellaneous, $14,946o9;
total, $104, 400.23 Expenses: Operat-
ing, SIT, 265.S9; taxes, SIS, 43S. IS; miscel-
laneous, $15,225.1S; total, $100,929 10;
net, S3,470.4S.
All the facts in the foregoing state
ment were certified to by Superinten-
dent E. w. Clark.
By the statement of the PajarO Val
ley Consolidated the total mileage in
the State appears to be 34.9. The
value of the roadbed, rails, etc, Is
placed at $161, 1896. The value of the
rolling stock is put at $50, 399 Earnings
are given as follows: Passenger, S1O,-
$50. 80; freight, SO, 1865; miscellan-
eous, $42030; total $50 ,301. %. The
operating expenses are thus: $685.
236.27; taxes, S30717O; total, $780,
1887; net, $1S,9S7. 81. The report is
made and signed by Robert Oxnard
Superintendent E. w. Clark appeared
for the Pacific Coast, corroborating his
report. He said the property was get
ting older and, being a narrow gauge
road, was not so valuable as others.
The rolling stock is twenty years old, -
he. said, land the passenger cars are
seven years old; the locomotives are
from seven to twenty-five years old.
The road lies between Port Hartford
and San Luis Obispo, and the average
life of road in that locality is ten
years. l think we shall have to put in
from $4,000 to $4,000 ties a year, and
redwood ties cost us 81 cents each. We
have no bonds and we pay no interest.
l think the bonds were disposed of dur
ing the reorganization two years ago"
j. M. Taylor appeared for the Pajaro
Valley Consolidated which he claimed
was assessed too high last year, being
$1,000 per mile. He said: The work
the beet crop. Last year the beet crop
was light, and the conditions have not
materially changed this year The beet
crop will be 40 per cent less this year
than under normal conditions. Out of
1lS cars on our road no are used for
the beet trade, which are carried at
about 30 cents a ton. We have 10000
acres of our own beets and we handle
as much of that trade as we can be-
tween jacksonville and Spreckels. We
have made a contract with the South
ern Pacific Company by which We get
fair rate on hauls.
Our rolling stock has deprecated
considerably in the past few years, and
the road as whole has deprecated 30
per cent. In the past year we have
built six miles of road, which ran to a
lime rock quarry; but the quarry gave
out and this was a loss. I think this
road cost us about $4,000. 1t was a
cheap road, built for carrying a few
cars of lime rock a day"
Mr. Taylor saw no reason for be-
lieving that the business of his road
would increase much in the next five
years.