The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-29
WESTERN UNION HAPPY
IT'S VALUATION Is CUT DOWN
NEARLY HALF.
LESS EVEN THAN LAST YEAR BY $50, 600
Modelled on The Same Ground Plan as The Nine
railroad lnjunotions Recently Flung
10 an ungratefuI People
from Flat Rock,


Judge Simonton, he who makes rail-
road injunctions while you wait, Is
equally expert with the Western Union
Telegraph Company.
In fa he is a little more so. lie
taxed the railroads on last years as
sessment. When it comes to the Western
Union he sees these figures Sl50,o0o bet
ter.
IN other words he grants the western
Union an injunction against the Corpo-
ration Commission which yalnySits prop
erty at 81. 100000. and then scales last
years assessment tSI5n,oAA1 down 10
S600O00.
And for this he offers Ref a word of
explanation or a show of excuse. But
why should be explain. beng law unto
himself: Enough that he tanks 5000
600 sufficient. What matters ii that the
Western Union has been paying on
SI5O.n00?
But to return to the injunction ~
corded here yesterday In the cfhce OF
the clerk OF the United STATES Circuit.
Court This injunction. like that re-
Gently granted by Judge Simunton to the
railroads, is against the North
Carolina Corporation Commission.
Franklin Mcneil, Chairman; Sam
uel l.. Rogers and Il. c. Bed
slingfield, commissioners and III. G.
Brown. clerk to the commission; III. w.
Aver. Auditor, and w. Ill. Worth.
Treasurer Of the State Of North Caro-
lima
The Commission is restrained from ccr-
tifying the taxes down TO the Auditor
on the 81 100000 valuation basis; the
Auditor from making the certificates
and the Treasurer from enforcing pay
mentor the taxes-except on IN assess
sof 100000 valuation.
This will make difference in revenue
tn tlaN Stale of about $1,000.
The injunction Is made returnali:e
September 18Th at AshevIlle lia SAME
time and place the railroad injunction
are 10 be heard BY Judge Simonton.
The bill Of complaint filed by the Wes-
tern Union Company, and on which the
injunction is granted sets forth:
That the Revenue Act of 1899 gives
the Board Of Railroad Commissioners
power and authority TO assess the value
of the Western Union Telegraph Com
pany's property for taxation; and tie
Board Of Railroad Commissioners having
been abolished, '.the North Carolina
Railroad Commission did, OH the 18Th
day of July, A. d., 1899. unlawfully
attempt to assess such value and I'D
judged the same to be the sum If 81,
100000, and are now unlawfaily seeking
TO force the said Western Union Telc-
graph Company to Fay atax upon said
sum-
That the North Carolina Corporation
Commission is acting unlawfully in that
in fixing the value of the company
property it has not considered the report
made to the State Auditor as required
by law That the actual value of the
cempany's stock does not exceed 500,
100000, and that there should be de-
Quoted therefrom the value of the real
estate owned outside of North Carolina
and the sum Of S15000,000 of capital
stock which is invested in stocks anu
bonds OF other companies and which
stocks and b01r1s might readily be sold
without in any manner affecting the
telegraphic operations Of the Western
Union Company.
That the Commission arrived at this
valuation by taking the totals number
of shares Of stock outstanding land
estimated the value thereof from the
price few Of said shares may have
been sold for at various times. and
using this as proof of the value Of the
entire property, added thereto 1he
amount Of money due by said company
under mortgage; and in that manner M
lawfully increased the valuation If said
company's property for taxation IN
North Carolina
That in arriving at the valuation Of
81 10000 it was the intention OF the
Corporation Commission to assess the
property Of the Western Union Com
pany in North Carolina at its full value
whereas other property In the State Is
assessed lit about two-thirGs Of its reat
value. and that the Commission had 10
right or power to do this.
That in assessing the value of its
property i'll North Carolina for taxation
AT S1,000000 the Commission h2s as-
Sumed the market value Of tue whole
amount Of stock 10 he approximately
SS0,000000, has thereto added tie
amount of money due on said mort
cages, and after deducting the value Of
the company's real estate situated o6t-
side Of the State Of North Carolina. it
has attempted to arrive ut the unit If the
entire property aud concludes that the
property taxable IN North Carolina is