The San Francisco call., 1899-07-18

enough, as they do no business here
and take no money from the county.
In Difference to the Assessors opinion
Mr. Aigeltinger cut down the boards
intentions $100,0 900 and moved that the
assessment be increased to $5O0,0O0.
Again Phelps was the sole negative
Il move We reconsider the vote where
by We denied the protest Of the Sutter
Street Railway Company. From facts
l have gathered 1 think its assessment
should be materially raised" The mo-
tion came from Aigeltinger. L thought
that had been disposed Of" objected
Dodge. Mayor Phelan ordered Attorney
Freidenrich called in. Attorney F'reid
enrich was surprised and impressed
upon the board that he did not appear
as the representative of the company.
He was questioned pro and con, but
could furnish absolutely no informa-
ton. Mayor Phelan, however, made a
hot bundle of 1t, to the distress of the
Assessor. A question from his Honor
called up that argument over the par
ity and premium of the Market Street
bonds Asked on what basis he had ap-
praised the Sutter Street Company,
Dodge was obliged to confess he had
figured the bonds at their par value,
instead Of at their market value, as in
the case of the Market Street Corpora
ton.
Asked why he had seen fit to change
Ills Sy ySlSill VI CdlCuldllOII IlS ldillCiy oll-
swered that the secretary of the COM
pany had declined to let him see the
books. Freidenrich helped him out with
the statement that he did not think the
bonds of the company were listed.
Attorney Kellogg and Engineer
Brooks of the Spring Valley Water
Company came in to tell why the COM
over $4,000, 900. Their argument was
practically the same as that made on
Thursday last; that the board had es-
timated the company's taxes when it
figured the water rate and that it now
had no right to subtract from its legal
income by allowing heavy assessment
Dodge and Kellogg INDUCED in a
lengthy argument on the cost Of pipe
laying. Questions, we'll directed, devel-
oped the fact that Spring Valley had
been dealt as kindly by as had the Mar
ket-street Company. The value Of the
corporations stocks and bonds was
found to be $25, 000, 900, the assessment
so cleverly juggled that the board could
find no place on which to hang an in
crease in assessment. 1t gave it up as
a thankless task and allowed the as
sessment TO stand as it was.
The San Francisco Gas and Electric
Company, assessed at Sc, ,17S,612, and the
Pacific Gas Improvement Company,
with property valued at 81, 100000, were
found in the same cleverly accom-
plished condition, and were also let
alone. The Contra Costa Water Com
pany, with only it's corporation papers
In this city, was allowed to stand at
$750000, the assessment on it's fran
chise.
Wells, Fargo & Co, one of the slip
periest tax shirkers in the lot, had got
rid of most of its taxable holdings by
shipping them out to it's branch banks
and, although the board was resolved
TO for once compel that institution to
share its just portion of the tax burden,
1t could find nothing more to tax.
At the afternoon session the most i'm
portant matter under consideration
was the assessment of the Sutter-street
Railway Company. 1t was understood
that this corporation would send repre-
sentatives to the board to show cause
why the assessed valuation Of it's prop
erty should not be raised. The corpora
ton sent no agent, however, and Super
visor Aigeltinger moved that the as
Iessment of the company be increased
100000
Assessor Dodge emphatically objected