The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1899-08-25
CORPORATION ASSESSMENT.
Work of the Railroad C0mmIssion-As-
sessment of Railroad and Tele-
phone Property.

4
phone Property.
The railroad commissioners have made
public the result of their work in assess
ing for taxation the railroad and tele-
| phone properties of the State.
The assessment on railroads is. So sS0,7Is 90
| That on telephone and telegraph
| companies ----.--'....-...-. I,SSZ,yAI ~
The total being. ................. 64,21s,659 10
| The former assessment on railroads
was ...................-- 6ss1s.4O4 80
There has been an aggregate reduc-
LION IO,9S1oo u
Taking railroad properties as whole,
the reduction has been about Is pei
| cent. While there has been a reduc'
ton in the aggregate, a number of the
valuations of different lines of roads
were increased.
While there is doubtless disappoint.
ment to the owners of these properties
| that the assessments were not lower,
and a keen disappointment to some
| politicians that they are not very much
higher, the general public will be con-
| WINGED from review of the work done
that the conclusions have proceeded
upon lines of judicial investigation and
| proximately correct valuation. Much
time and temper may be wasted in
mere assertions as to the values of such
| properties, and as to the proper methods
| by which such values for taxation
| should be reached. Those who are the
shallowest and most fippant will be
| the readieSt to advance their opinions,
| and the loudest in asserting them. The
work of assessing such properties is
| stupendous one, and requires vast
amount of labor and investigation,
| directed by dominating spirit of fair.
ness, integrity and courage. The ablest
| economic writer's have been baffled by
the complicated questions of taxation.
There can be no hard and fast rule even
in such comparatively simple assess
ments as those of improved and unim.
| proved real estate. There is no exact
way of calculating values. 1t is after
all matter of fair opinion. How much
more difficult is the problem when ap-
| piled to railroad and telephone prop
critics, and when the assessors must look
to and give due consideration to gross
and net earnings and the value of fran
| chises, stocks and bonds based on prop
critics operated as a system running
into the various States. The most that
can be expected of assessors is result
| approximately correct. There can be no
fixed rule for figuring out such values.
| 1t is but fair that due weight and con-
sideration should be given to the assess
ments made by the railroad commits
| sioners. They have worked earnestly,
honestly and intelligently, AMI have
acted without favor, fear or prejudice.
The assessors had nothing to do with
| the question of equalization. They had
no such power. They were compelled
to value the properties fairly at their
actual value, without taking into con.
| sideration the Embarrassment of
other property. 1t may be in the power
| of the board of equalizers to consider
| the question of equalization, but the
assessors could not. The reduction is in
exact line with the policy proclaimed
| by Gov. McMillin, and while it may not
| 60 to the full extent to which his policy
as proclaimed by him seemed to indi-
cate, it nevertheless gives expression
to the avowed policy of his administra-
ton, and in the OILY way lying within
the power of the assessors, who could
merely value and not equalize.
The past history of this State in re-
cent years has been, for causes not now
| necessary to discuss, characterized by
antagonism between the great corpor-
ate interests of the State and those who
have represented the political power of
| the State. This should not be. It can
not be productive of any good. 1t can
only result in harm both to the State
| and such corporate interests. The po-
tentialities of the State could hardly
be estimated if they should be ex-
pressed by a common mind and COM
| mon purpose. If, instead of pulling
apart, all should pull together, our
progress would be steadily forward.
| Of all the times in recent years this is
the one calling for concert of action.
There is a general awakening of all
enterprise. Capital needs attraction
| this way and intelligent direction.
| Tennessee can advance materially, So
! ciaIly and intelligently more by con-
centraking all of her forces to COM
mon purpose than by having them
| counteract each other. There was
time in the State, and not far back,
when some capital could be made by
candidates for public honors displaying
as their only stock in trade abuse of
corporations The people have gotten
tired of that, and the commercial and
| financial interests of the State have
rebelled against it. 1t is an old song
that has become intolerable,
When the people abroad become i'm
pressed with the fact that this is really
a dominating sentiment in the State
enterprise and capital will not shun its
borders. No favors should be shown
corporations, and they should be held
strictly within their charter rights to
the performance of their duties to the
public, and should not undertake to
control or dominate in politics, but
their rights and their property should
not be robbed under the guise of taxa
ton or in any other way.-Memphis
Commercial Appeal.