New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-02
INTEREST IN FORD'S BILL.
MR.. LAUTERBACH SAYS TRACTION CON-
pANIEs NEED NOT FEEL UNEASY.

PRESIDENT GOULD THINKS THAT ITS PROVISIONS
CANNOT SERIOUSLY INCREASE THE MAN
HAITIAN rAXATIoN--A TALK WITH
MR.. FLOWER.
Tho Ford Franchise bill continues to be a
xn-rns question for discussion among various
.orrorations OF this city. and a number Of we'll
lawn men yesterday gave their views regard
ingt
raward Lauterbach counsel to the Third
,venue Railroad Company, gave II as his opin-
a., that there no reason why the traction
.orpanies should feel disturbed over the pas
.ooa of the bill. so far as l am able to see"
- said. the traction companies need feel no
lam over the measure. Neither am able to
- why stocks of the roads interested should
s.o,,,e on the Stock Exchange except for rea-
scns of stock jobbing.
..rhe Ford bill" Mr.. Lauterbach continued
.,r,s Us back where we were before the de-
.,.,on rendered by the Court Of Appeals in the
oose of the Union Trust Company against the
rax Commissioners This case was decided
some eight years ago. and the conditions then
,nnosed were not especially onerous to the cor
,orat,ons concerned So far as the Third Ave
rus road is concerned. we will not be much
affected by the new law. Our franchise was
Maid for. and there was an actual contractual
relation between Us and the Legislature. In a
word. the franchise granted in exchange
for things which we agreed to do and these
things we did most regiously. We were re-
oured. among other things. 20 extend our lines
IN q northern direction 10 what was then
barren wilderness, and for ten years we ran
that part Of our system at a loss 1t will be
our franchise and. having paid for 1t. the fran
chise is now property"
Mr. Lauterbach refused to discuss the con-
stitutionality Of the Ford bill. but said that to
him it looked very much like an attempt at
double taxation The inference is that the big
corporations will probably fight the bill on this
ground.
Mr.. GOULDS VIEW.
George J. Gould. president of the Manhattan
Railway Company authorized the publication
OF the following statement:
The Manhattan Railway Company believes the
Ford bin Is incapable Of enforcement against 1t
60 as seriously TO increase Its present taxation.
lawyers. with instructions TO take the proper meas
ures at the proper time for the protection Of the
PROBABLY be the subject Of litigation, We are ad-
ton until the matter gets into the courts.
r.
haitian Railway Company. said, when asked
about the Ford bill:
I have no statement to make to-day in regard
10 the application effect Of the Ford bill the
Manhattan Railway Company. The questions pre-
sented are numerous, complex and to some extent
novel. Any opinion that ! should express should
be the result OF more elaboration than have
yet had time 10 give TO the subject may say
generally, under the present laws applicable the
taxation of the Manhattan Railway Company, It
IS believed that It will affect the Manhattan less
n fay OraN n her WI "a lie
within its operation.
Russell Sage said that the new law would not
go into effect without a hard struggle on the
part of those whom II affects TO have it declared
"A court decision will be asked
for" he said. las soon as a case can be prepared.
I am opposed to the measure because I regard
il as unfair. Besides this. the law will give to
the persons charged with its enforcement an OPP
portunity for fraud and blackmail. 1t is often
charged now that the levying and collection OF
taxes are not equitable. If that is the case now.
1: would be infinitely so under the Ford
WHAT MR. FLOWER HAS TO SAY.
Ex-Governor Roswell P. Flower said yester-
day:
While do not favor the Ford bill in all its pro-
nave for many years tb ADVOCATED t the in
pelling corporations holding valuable franchises
10 the value of their real estate The Ford hi is
step in the right direction, and believe that it
will ultimately result in legislation greatly to the
advantage of the general public. Let the large
street railway companies and other corporations
holding charters I'm this city be assessed from 20
per OF their gross earnings and in hundred
years the private owners of real estate will NOT be
paying any taxes II Is absolutely essential that
the should be figured on the gross earnings Of
the corporations as. II the net earnings were used
as q basis. the accounts Of the various corporate
companies in this city would be so arranged as to
show a very small margin Of profit.
II the property Of the Third Avenue Railroad
Company had been assessed at the outset OF its
career 3 per cent its gross earnings the city OF
New-York would now be richer by $4,000 year.
The same thing is true in the of the Metro
politan Railway Company and all other large
porate interests which have never paid the city in
proportion 10 their earnings. The present legisla
tion is also valuable in that II meets popular de-
mand The large part OF the public IN this city
have for long time felt that II unjust that
they should pay a comparatively heavy tax on their
real-estate holdings while the corporations went
free. II was about time that something done
IN the matter, as the imnatience OF the people was
Increasing and believe in the course OF time would
have led them TO take matters into their hands