The times., 1899-05-16
TUESDAY, MAY 16, 1899.
Roosere1t and Public Frnnchi.cs.

GoFernOr hooSeFelt announces tndt te
will today make known his purposes re-
garding the Ford bill, taxing the franchises
Of corporations In the city and State of
New York. 1t was mainly upon the Gov
ernor's recommendation that the bill was
passed in spite of the opposition OF Senator
Platt and the Republican machine" and
In defiance of the wishes of the influential
corporate influences in the State. This
being the case. the natural assumption is
that Mr.. Roosevelt will sign the bill unless
he proposes 10 stultify himself, but the
pressure upon him in the opposite direction
has been SO great that at this writing the
issue is in doubt
The Ford bill, as applied TO street rail-
road, gas, electric light. telephone. and
telegraph companies, is a proposition to
tax at its value the right Of a corporation
to use the streets, irrespective OF the taxes
II may pay upon real estate, and ire
spective of the personal taxes which the
holders of its stock may pay. The value
OF corporations rights to use the streets
is to be determined by the market worth
of It's stock. plus the market value Of its
bonded debt
Statistics have been prepared showing
the total value OF the stocks and bonds
OF the following corporations, the assessed
valuation of the properties upon which
they paid taxes in 1898. and the assessed
valuation upon which they would pay taxes
under the operation of the Ford bill.
should IL become law:
Val .netrz
and bonds. val, lsos val, 1900
Third Avenue
Railroad :. sI5.oOOOOo $4,000 si5.Coo,OOo
n Y Har
RAILROAD >. 100000 u5OOo COCOON
frie r. R.. 2707ii,0e1 1000 2707ls011
Consolidated
Gas -. ssS7I.74O 4.5io.ooO ssGn,5iO
Edison Z. L.
Company ;. I5.a52.OOo Nothing l5,s52.Ooo
Del a Hud
Railroad =. 100000 Nothing 100000
n. y. Steam
Company 900 Nothing 6IOi. 600
Manhattan Fl. 72.7Oi.s25 I.7O0.9s2 72.IoI. SIS
het- St r. r lll,Iss,5O9 l4,49304d Ill. 800
There is no question that the measure
was proposed in response TO an emphatic
public demand It is estimated by Tax
Commissioner Feitner that it would add
twenty million dollars per year to the reve-
nuss OF Nes York city alone, v hile contrib-
uting an additional billion dollars TO the
taxable property OF the State, which Low
escapes taxation. This extract from the
proposed law will show what it contem-
plates By way Of taxable real estate:
The terms @land,r real estate.' and "real
properly" as used in This chapter inciude the
lard itseif above and under water all build
JHgs aBd other articles subs;ructures and super
structures erected upon, under or above, or af-
Z H. Iii
niuding the value Of the right 10 collect wharf
ege. caltage dockage thereon; all bridges,
all telegraph lines wires, poiez, and appuTte-
iiancns all supports and Enclosures for electrical
cDrductOrs and other appurtcnanccs UPON above
tnd Under ground; all surface, underground or
elevated railroads. including the value Of all
franchises. rigl;ss or permission TO construct,
Ifaintsin operate the in, under, above,
en, or through streets highways. public places:
all railroad structures, slItstructures, and super
structures, traess, and iron thereon; branches
switches, and otheE axtErss permitted author
I'D to be made, laid, placed in, upon, above
grounds; all mains. pipes and tanks laid or plsc
I'd IN. upon, above under any public OF private
ttreet or place for conducting steam. heat. water
on. elccfficity or any property, substance pro-
duo capable OF transportation or conveyance
tlifTrin that is protected thereby including
The value Of all franchises. rights authority, or
permission TO construct. maintain. or operate
IN. under above upon. O. through, any Streets
highways or public places, any mains. pipes
tauks, conduils. or wires with their appur-
tensners, for conducting water, steauL heat,
light. power, gas, oil other substance, or
electricity for ielegraphic telephone or other
purposes: all trees and underwood growing upon
land. and all mines. qnar!ies. and fassils in and
under the same. except mines belonging to the
STATE.
A few OF the corporations have volun-
tarily conceded the justice OF the PROPOSE
ilon. and so general is approval Of II that
II Governor Roosevelt stands in its way
he Will have TO part company with the
reform element OF his party. II is simply a
question whether ne will choose to defer to
the overwhelming majority sentiment of the
Commonwealth. or whether he will conser:
TO be whipped into line by Mr.. Plat and
the influences he represents.
Should New York State lead the way in
the matter, there is no doubt that other
States will be disposed to follow its ex-
ample. for all over the country there is a
growing demand that corporations receiv-
ing valuable franchises from the public
should bear their proporticnate share OF
the public burdens, which is admittedly
not now the case.
stupeHdous Imbcciii,y.
There are some people in Kansas. as
elsewhere, wko are always ready TO make
fr.ofz as