The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-14

half this property. The same argument
may be applied touching far lanos.
Now / submit that we ought not to
be punished because we have put our
money in certain enterprise.
DO YOU suggest to me that this extra
value is placed on us because of that
mythical thing you call Il franchise!
This great franchise that the LeglSla-
ture gives out here every two years,
wholesale and retail at fifty dollars
apiece: The last Legislature granted
a hundred of these franchises.
What does the use of this franchise
mean: 1t means civilizing and chris
tianizing the country through which we
run 1t means the upbuildng Of yoar
State. And i am Ee,e today to ask
nothing more than that you Will make
our burdens equal TO those whose bros
perity is due to our efforts-nothing
more. nothing less.
II would not dare assert. gentlemen,
that you have not been actuated by the
best and purest of motives. hut you
have made Il mistake. | will not I'M
dertake to say that YOU have not as
SesSed our property at its tfile value. but
| do say that the result of Your action
is to make us pay more i'll proportion
to our property than do other citizens.
You must. under the law, so assess
railroad property as to make it bear its
just proportion of the burden Of taxa
tion-nO more.
This feeling is due 10 the fact that
our prosperity. the value OF our pop
erty. is heralded abroad, while the
prosperity of the factory the wealth of
the farmer is hidden away n the bank
account that nobody ever sees.
Il want to again impress upon you that
we are willing to bear our just proper
ton Of the burdens of government but
do you know that if we have to pay
the taxes YOU have assessed against
us we will have to take out of our treas
ury annually ) per cent of our gross
earnings!
Our books show that tine business
done by the people of North Carolina
on the Wilmington and Weldon Railroad
amounts annually to 100000. And yet
you ask us to come up each year anu
pay into the State Treasury 100000
of this
Mr.. Elliott was followed by Mai. John
ID. Shaw, representing the Seaboard Air
Line.
Maj Shaw had been unable to ascer
tain on what basis the assessment by
the Commission had been made. He
thought it must have been based on the
sale of the Cape Fear and Yadkin Val
ley. but if it was it had been valued ut
half a million more than it brought at
public auction.
What do you want with all these
taxes? Does it lessen anybody's taxes?
Not penny The Legislature has fixed
the rate Of taxation and we are bound
to pay it. l doubt if it will benefit us in
future. The money collected in this
way seeks places that are of little benefit
to the people.
DO you adopt the earning capacity as
a basis? You do not. The Wilmington
Seacoast Railroads earning capacity is
about the same as the Carolina Central's.
yet one is valued ut $4,000 Il mile while
the other pays on $4,000. Then there's
the Roanoke and Tar River. Earning
capacity about the same. The Roanoke
and Tar River is valued at $4,000; the
Seacoast at $1,000. The Gibsonvile
branch of the Seaboard has about the
same earning capacity as the Seacoast
road. but its valuation is five times as
great. The Gibsonville road cost only
$4,000 when it was built Now it is
valued at $4,000
Il know, gentlemen. you did not in
tend it. but you have Disseminated
Sharply against the three principal sys-
tens Of the State in favor of the mis-
cenaneous roads, and these miscelane
Gus roads are Disseminated against in
favor of private property
For the Atlantic and Damyille Rail-
road Alfred T.. Thorn, attorney. appear
ed.
He said his road made loop of about
% miles in this State, touching three
counties. The taxes imposed in North
Carolina, he said, amounted to about 30
per cent. of the gross receipts from its
three stations in the State.
MIR. Thorn acknowledged that the as.
sessment of his road ($7, 900 a mile) was
the same in this State as in Virginia
but he contended that his Virginia as
sessment was too high.
AT this point Col. Henderson. repre-
sentins the Southern Railway. said he
mad something to say, but he didn't care
to say 1t till he heard from the other
side.
Il see my friend Col. Hinsdale here.
uIluefStaHu he represents the Governor
and will ask that no reduction be made
in valuation. Now. when / shoot | like
to know what I'm shooting ut, and when
! argue | want to know what arguments
I'm expected to meet and combat. There
have been several speeches on my side.
it seems to me it's about time to near
from the other side. My friend here's
using smokeless powder. we want to
locate him."
Col. Hinsdae said he had nothing to
say just at this time.
President Elliott asked Col. Hinsdale
If it was true that he represented the
Governor. On receiving an affirmative
reply. Mr.. Elliott asked for time to con
fer with the other railroad officials
present. adding:
If the Governor is to be represented
here ] may ask to make my speech over
again."
Col. Andrews. Mr.. Elliott and Mr..
watts retired for Il conference But
they didn't confer long They hied
hemselves-these three-to the Cover
n0r's office to demand of him what he
meant by opposing them in this plea for
ii reduction in taxes