Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1899-01-14
actually increased during the time stated

actually. increased during the time stated
rather than diminished?
No Afksls: atd w iass o sps Gnic es m aRs
OF road In the state, paid 5000, 100 for ex-
penses In 1896, and earned, according TO its
copt tbis s'S eompany Is in i' lS gsssoo oSer ss ssSS 900 %
more TO operate its IA miles of road than
IL cost the Milwaukee to operate its LOO
miiesY This conclusion Is ,~repugnant to
reason when we discover that the earn
ings of the Milwaukee for 1896 were near
~ Sl,c00.000 In excess OF those OF the North
western. The truth OF the matter seems
10 be that the railroads juggle figures TO
deceive the people with respect to their
earnings. They falsify reports of earn
ings and stuff expense accounts TO avoid
a reduction Of rates and escape taxation.
The, Milwaukee railroad reported over Il
million dollars more personal property
represented by locomotives and cars in
f Ri5dt tha b.d It aII the year previous; b This bS
me trial OF The rate cases, and would
doubtless be In hiding today but for the
evidence brought out on that trial. ,
IND that in Iowa the Chicago, Mill
waukee and st. Paul pays an aggregate OF
$2l9,657.i &c in taxes, or $1il. % per mile, while
IN this state i pays aggregate taxes
The Chicago and Northwestern pays $2l7,-
gs3,10. or 1874 per mile in Iowa, while
In south Dakota IL pays a total Of S66,316,
or 1920 per mile. In Iowa the local rates
charged are but little more than half as
great as they are In South Dakota. In
North Dakota, a state which is no more
productive OF local business than South
Dakota, the railroads were assessed this
year at 5000 per mile fiat. This Is the fig
ure which | urged as a proper assessment
f3r the leading lines in South Dakota.
The Chicago, Milwaukee and st. Paul
Ro.s "a per CEN, OF is income from South
DhkotaI while ohly 15 per cent. OF its
mileage Is IN this state IL declares divi,
dsnds OF S2,lN per mile on It's watered
stocks, pays its officers high salaries, lays
a million dollars a year by as a surplus,
aud then refuses to lower rates or pay
ith ialr share OF taxes. Can this condition
ne Temedied? ] believe the task is possi-
bln OF accomplishment. AS a first step
the sailroadI commissioners should be au-
thoflEed and empowered TO go into every
state where the South Dakota railroads
have lines and check up the earnings OF
these companies as shown by reports
made 10 officers Of n~eighboring states. 1t
should be a"scertaihed definitely whether
the earnings OF the roads In this state are
generously credited by the railroad COM
panies to Minnesota, Iowa, Wisconsin,
Nebraska and North Dakota, for the BEN
whether they are not reported at all.
which Is suspected. AS a second step, the
state board Of assessment and equaliza-
ton should be emasculated OF It's power
to assess railroads and should become a
board OF equalization only. The assess
ment OF railroads and all other such prop
erty should be made by the local assessors,
who are widely scattered about the state,
and who Will be less liable 10 fall under
the control OF the corporations than a
state board, which may owe It's nomina-
ton and election to active railroad intiu-
cnce. Local assessors should be fur
nishcd, through the count auditors, with
all necessary Information on the subject
Of corporate earnIngs and valuations,
which II should be made the duty of the
railroad commlssioners to publish every
year.
"a trining increase in the valuations OF
railroad and express companies was Sc
cured this wear hnt the raise was trivial
in comparison to what IL should have
been. a fair increase I'm the valuation OF
this class Of property would add. not less
than $4,000 por year to the public rev.
enup.'
The governor also calls attention TO the
fact that the great mining companies In
tho Black HIS escape taxation. Prop
Crty which turns out annually a product
OF over $500, W0 pays a mere bagatelle.
At present this rich property Is assessed
like farming lands-on the acreage basis.
1t should be- assessed on the value of its
product.
1he governor discusses a great many
other matters OF general interest.
Favors state Insurance.
The treatment of the insurance question
by the governor is somewhat sensational.
He calls attention to the good results of
having established a department of in
%Surancc, in Ohargc Of a commissioners, ana
presents statistics showing the growing
business of the companies in this state.
He adylscs that The state undertake the
business Of insuring the property of its
citizens. a state monopoly. he says run
for the people and wholly i'm their inter
est will be powerful enough TO success
fully compete with foreign Insurance mo-
nopolies. The credit OF the state will be
"A constant guarantee of the soivcncy Of a
policy. The state can succeed where Il
mutual company Of its citizens must fail.
a mutual company which shall compose
the entire state IN It's membership, and
having all the ftate's power, can. under a
wei devised system. either reduce the
cost OF insurance onc-hGlf or make enough
money from this one enterprise TO pay
the running expenses Of the state.