The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-18

and profitable this right 70 exist in contempI4-
stituton and laws Of Texas confer no en-
s % carry a s e s1
corporation formed TO conduct the same Kind
fore. franchise may be worth much Or
little in proportion to the advantageous use
made OF II and the profits accruing 10 the
in sonnestion Win TIC ssnshe property a%
necessary to It's exercise The franchises
granted to what are termed semi-pubiic cor
scms exercising q csr. se 1s sSs sss
higher value than are those granted to
simple corporation TO do a mercantile bush
ness or to conduct county fair. Each may
be valuable In the proportion that the capital
| In each Is probably employed. One or both
may. Of course have fictitious or spccula-
4 by reason Of the probable profits being small
or nothing. may have no competitor In tho
particular business engaged In, while the
\ other, by reason OF the prohtaheneas of the
| business, may have many competitors. But
| the value OF each will be reached when you
measure tho combined value OF Its property
in the corporation, together with It's bonds, IL
| any, br outstanding, are being and can be
! converted Into cash. This Is the fun value
OF the corporate property and to reach II for
taxation Is the purpose OF the bill which we
| have formulated. The method OF measuring
| tho value is one OF convenience and certainty.
i 10 provide tax upon the intangihlc properly
sca a' ,h a'acra,,nn ~ nv The
Legislature may say that a franchise is worth
/ 81 or NNoo,OOo--any sum la the VIII uf tho
Legislature, and tax II accordingly. Such
valuation might he fictitious; Il might be
real. But when all the properties entering
into value are ccnsideren IN hx,ng me price
OF thing that price is all II is worth: to tax
II for more would be wrong and unjust
49, .
| With regard to municipal taxes to pay rail-
d. -
se,r n. s,,lowa, ..Tba ,royisions Of tho chan
-, - ~, IN, -. ~. "a -, . AZ, 80.
en on law s"s annears ,rnn, renor,s re recs,yed
snt NV, i. uppsals tp w lp sput.s ieav ,,.
py we WY 'uss,ou ,, 1sa uoo ~
has SIuuvVs ouNcs sn So'''uVVi
WV, anu suiiei Stu'',m, Vo.at ivr ~
stnn VI snhsidy honds hit from Ina
stanuihs rhl'roau suos,uy nohus ou. ,'o,,i e,s
rvputt Iuni Iu't eVu,S US % H., 81 ',I,,s
MIN pV'a,u NJ, ~ ,nw fu"Vs t, 49, , ,sn,osI
cause, Ihe lolloMlng el'ies pse n us,,,osn
SpWp, peilhs se9,VvV MvhiuneS S no' Sai
Sn6pnW SolNV Nh IN -, W on,i tu
sa"uD" so, y nor yf cpoiiar,ion =, TAX 10
Tor the assessment ana ro'leutl1 ,, VI ~ ,dN ep
nay interest anu create sinking iunp ~.
alsunars,ns wv 4t'uu ep's az 'nese o0l''s
chapter Il IL 'psuu necessary
II 80,
On the SUBJECT OF ponueu ufp's anu w.
rates tho commission . report reads as iol-
lows; "Frpm data we have gathered It APP
- 49,, 49,, ,,s.A,odroa 40 ma
pears t""t '"u ''''i ,o -,
counties of the state amounts TO $ii'Vee'io@'i-.
The average tax rate for tho counties is -
100. 90, 49, stnn Ad5 % ,h,a Tho STATE t.x
-''' w w f -,
as az present Witch is 20 cents ior sen .,,ai
state purposes ana II cents ioI seupol pe.
ipntS' "lu ~ ii" Nv ne ~ ~ sinS ,rhis
ayerqge y t'ken rom tne "a orsah@y TN eo ~
uea IN ll'e S'ito . t W NO snraad Am.
Angehna, Collin, crosby Eetor' H,llesple' leu
Davis hlnhey. NaeosdogheS. ,r,i ", 80.