Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-03-29

to consideration not only gross earnings,
but any and all other matters neces-
sary' TO make "a just and equitable az
sessment." II seems to me that it is not
violent conclusion nor a perversion of
language to assume, as did in my res
lolution. that the lawmakers meant what
they plainly said and that it was my
sworn duty as an officer Of the state to
take gross earnings into consideration
and net earnings likewise If 1 deemed
/ them essential to arrive at a proper
taxable basis; and this is precisely what
/ I thought for reasons already given and
| / so continue to think, the majority of
the counc: to the contrary notwith-
stardiig.
"a PER CENT EXPLAINED.
II would appear to be a mystery to
the author of the amendment here un-
der review why should take "A per cent
of the gross and net earnings. To those.
not familiar with such matters it may
seem arbitrary but i simply had to take
4 that per cent for the reason that 1 had
determined in the first section of the
resolution the aggregate taxable valu-
alton and could not help myself Why
capitalize I explain. took the maxi
mum legal interest rate. viz, s per cent.
for the reason that could not decently
i have taken rate of per cent to capt
4 talize. and had taken !, g or . per cent
Tx. taxable. valuation would nave gone
up to S55. 600, 900 and To s750o0o0O. Eight
per cent made Il valuation Of S4s. 500, 900
1 which | thought and earnestly hoped
4 would be 50 reasonable or rather so low
! in amount, as TO meet With the approval
4 of this council Having determined the
valuation, and having decided to take
gross and net earnings for the basis on
4 which to assess. / had to take such per
sl'cent thereof as would produce the valu-
l.ation. Adding the earnings gross and
met, and dividing the sum total into
/ S43,500000. i found that the latter was ~
lper cent of the former. In other words,
IA per cent Of The gross and net eainings
4 exactly produce the valuation for taxa
istion which l had hoped would be agreed
/ to. Other reason than this can not give
4 for taking "a per cent. 1t was simply a
lnecessity of arithmetic which forced me
to take ii.
/ The majority asked for more time ITO
Investigate the Justice in practical
4 application" OF the method and rate
urged by me. This is their right and i
!. concede it without objection. altho |
feel that my resolution was easily un-
J, Iderstandable. In fact, at the session
March II and the next morning in my
oftlce the governor stated, after my eN-
plantations in reply to his many in
lquries about my reasons for taking
the capitalization, Of the net earn
ings" and "A per cent of net and gross
earnings. that ne unGerstnod the
matter, and | believe he did. But cyl
dehtly u" suiieFs from iaIses OF ineffi-
Dry, Which. 81 course, can not De
helped sometimes
BRANCH ASSESSMENTS.
i The majority fear, fifth, that my res
/, olution il adopted would have resulted
, in certain ''ii!consruities' in the as
sessrnent of various branch roads Of
i the trunk lines and they appear 70 en-
terrain a solicitude lest some Feeders Of
the G., Il. e. O. the c., r. l. & r.. the
:. g, Nj. " st. +. or he c. x n w would
: have been lowered too much or in
creased too much under my plan. What
: did urge? Section of my resolution
declares the assessment of 4 railway
: system having been determined, the
valuation of the branches or sub-divis-
= IONS thereof snail be hAed at substan-
I TALLY the same ratio of assessment now
existing between the main iinsa ans
S the Dranches. WHAT d;d mean.
!, meant what must be pam 70 the MAI
who runs that II the executive couilei
I SO desired the assessment OF ths
branches would nave been precisely shs
same relatively as at present. under
I my rule. Language could scarcely bs
simpler or clearer Again, beg t
say that the governor on the two oe;
caslons referred to above. told me tila1
{ he understood how the assessment q
branches would remain substantially
unchanged under that section.
! Inc council II their sixth obJeetiet
'i'sililese = piolsi lesai" i2s tie az
piisaeioii vViii'lss i'iss'iil suitsl' = w
iesui.s Mhis,s e'ie iiisJ5'ii's ~
~ i'oss'ois 81, vs. 10y sii'Sii, -
~ sou.o ~. u''1.as sNss =
'iis' 'eile ~ siiieiles
!, y ,s'i IN i'.i'i os''is ps'sss ies
my ~
~ isi's /" 800 y, 81,
.'ieieps sun ", - siiSs Noutu
i''ie = sseiiis y iiie VIZ =. iuss'io =
i .. - y 9 a 49, us,'.t :,
- &c 10 sssie,s'
- aiiosite - ~ e!ieii ssi's so''i
!, e'ss alieSssst iiss = ~ Ju's ., - S'iA
!, i,ss =
* my iia'is - iosess .