The times. [volume] (Richmond, Va.) 1890-1903, 1899-12-01
INFORMATION FOR
THE COMMITTEE
Mr.. Virginius Newton Lays Some
Figures Before Them.
THREE OF THEM CONVERTED.
The Rest Seem TO Continue in Their
Own Opinions-Some of the Facts
anu Figures That Were
Prcse ntcd,

A meeting. which may have some ef-
feet upon the action of the Council Mon
day night, was held at noon yesterday
in the office of Mr.. Virginus Newton, at
the First National Bank, when eight
members Of the Street Committee, Colonel
w. L. Cutshaw, City Engineer, and Cap
tain Carlton Mccarthy, Special Account
ant, listened TO the views OF Mr.. Newton
regarding the tax which the Council pro-
poses to levy on the Richmond Passenger
and Power Company.
The members of the Street Committee
present were Messrs. Allen (chairman)
Pollock Bahen, Ebel. Peters, Woody, and
Whittet. The conference lasted for two
hours. and at its end three members Of
the committee admitted that they be-
lieVed the tax was TOO heavy, whilc>others
held that they were still convinced that
the committees recommendation was
proper.
BELIEF UNSHAKEN.
Mr. Ebe author of Section 4 Of the
ordinance said that his belief in the jus
tice of the section was mistaken while
the Special Accountant was Of opinion
that Nj Newton's own figures could be
made go uphold the propriety of the tax.
Mr.. Newton laid before the committee
freely the figures in his possession. which
were compiled by an expert. Some OF
the members evinced thirst for informa-
.tion. but others having fully made up
their minds, did not show the same anN-
iety. Captain Mccarthy listened atten-
lively and made mental notes Tor use IN
the future
The figures presented to the committee
were not made public. The following
however, gives a fair idea of the conten-
ton Of the BoydNewton Syndicate:
SOME FIGURES.
Earnings of lines in the past twelve
months. about $500 coo.
operating expenses. $500
Interest on bonds $4,000.
Sum set aside for renewals. 5000
The expenses II will be thus seen would
amount to S335o00, while the earnings
would only be about $4,000 which would
leave a deficit of $4,000. The above cal
culation makes no allowance for sinking
fund and emergencies. such as suits
smashup. etc Nothing is provided for
the b0ndholders. either. nor Is any al
lowance made for the sum the Richmond
passenger ana ROVER AOlhiidlF must pay
the present MANAGEMENT Of the road,
which. it is believed. will not be less than
a million and quarter.
On the other hand. there is no doubt
that the receipts of the road will increase
as the city grows, and that for the first
ten years the expense incident 20 repairs
viii be much lighter than thereafter.
COUNCIL TO CONSIDER.
To is for the Council to consider whether
this increase will compensate for the tax
imposed which will amount 10 $4,000 a
year. and the other expenses.
At the meeting Of the Finance Com
mittee tomorrow night, the tax question
will he considered, and a representative
Of the Traction Company. which Will al
so be affected by it. will appear before the
Committee.
The recommendation Of the Finance
Committee was that a tax Of $40 on
realty, and . per cent on the gross re-
ceipts should be imposed for the first ten
years: z IL on gross receipts for the next
ten years. and 10 per cent. thereafter.
The Committee on Streets however.
adopted Mr. Ebers amendment. leaving
the increase OF the tax after ten years
10 the Council then IN Office.
The matter may he disposed Of at the
Council meeting Monday night.