The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-20
R. R. PROPERTY
UNDERVALUED
Continued from Fifth Page.)

would receive such testimony when Of
fered
To this the railroads objected on the
following grounds ID The issue is not
raised; (2) the defendants are estopped
from raising it by their own answer CD
the question is a purely hypothetical one
Judge Conner then proceeded:
IF the North Carolina railroad is worth
&C. Geo, 900 and it is assessed at only $4,-
oOO,OOo do you think it is assessed at its
full value?'
NO"
'If the Wilmington and Weldon Rail-
road yield a large dividend on $16,O0O,O0O
and it is assessed at only 100000. do
you think it is assessed too high?"
NO"
IF the capital stock of the Raleigh and
CASTOR Railroad on per cent basis
| is S4.S00000 and the assessment is only
$2,7oO,o 900. do you think it is assessed too
high?"
Il wouldn't think So
IF the entire railroad property of the
State is worth $87 .0O0, 900 and the assess
ment is only $40, 200, 900, do you think the
| assessment too high?'
NO"
Mr.. Proctor left the stand at 1870 and
Mr.. W. H. Holland. an assessor in 1895,
and member of the Legislature in 1897,
was sworn He had tried to fix the true
cash value IN his assessment for taxes,
and had never heard Of any other rule
until this suit was commenced.
WILL APPEAL TO SIMONTON.
Mr.. Holland. who is farmer, was.
like other farmers who have been on
the stand, subjected to a severe cross
examination by the railroad attorneys as
to the value Of all his property. This ex-
animation was conducted by Maj Shaw.
On completion of Mr.. Hollands testi-
mony, Capt. Price arose and said:
1--WE expect to make a motion before
Judge Simonton at the proper time to
strike out that part of the Corporation
Commissions answer N the 1890 cases
not in accord with the answers in the
1899 cases, and raising the question of
differentiation of railroads.
Col. Hlnsdale: I'VE recognize your
right to make such motion and are will
ing for it to have it's legal effect when
made-none other"
Capt. Price, Unless you agree that
our failure to raise the question now
shall not operate against us, we'll stop
the case now and have the question set
tied before we go further.
Col. Hinsdale; well. we are going
right on taking testimony in regard to
the value OF railroads.
Judge Common: When are you going
to make this motion before Judge Simon
ton to strike out ?"
Capt. Price AT some future time
agreeable IN oil DartieS
The matter was left in just this shape
and the next witness, Mr.. r. l.. Brewer
an assessor in Little River township, was
put on the stand.
Judge Connor: What was your basis
of assessment"
Mr.. Brewer: I'VE tried to fix the cash
value ct : fair sale.
"Did you ever hear of any other rule ."
Not till today"
HAD ONLY THE TINE LEFT
Capt. Price s-examined the witness
in regard to his property and it's tax
valuation.
Capt. Price Il notice here that you
put down all other property. $500 What
90 YOU mean by that"
Mr. Brewer: My stock of goods"
What will you take for that stock
now?"
Il haven't got it. l did time business
| and the times about all I've got left.
They cleaned me up"
Questioned by Capt Price as to the tax
value and cash value. Mr.. Brewer said:
There are plenty of people in the
cash the tax valuation that we put on
their property"
Mr.. Brewer couldn't remember a sale
Of land for cash in his neighborhood, that
sales on time were usually higher than
cash sales.
Mr. Frank NJ Terrell, another assessor.
said the only rule followed by the board
of assessors was to find the true cash
value. He had never heard of any other
rule.
He was cross examined by Capt Day in
regard to the value of his property. but
soon found that he'd woke up the wrong
passenger. Mr.. Ferrall knew pretty well
what property he had in June, 1899, and
he knew positively that he'd given in
every piece of it and at full value.
Capt. Day: 'If piece of property is
valued on the tax books for $500 and sold
for $500, is it not true that some proper
ty in your section was undervalued ?"
yes"
Col Hinsdale; Doesn't property some
times sell for more than it is WORTH"
Yes"
The last witness examined was Mr.. T.
B. Holt. an assessor in Holly Springs
township.
What was your basis of valuation"
asked Judge Connor
"a fair cash value"
did you ever hear of any other rule?"
Not until recently
"How did you value personal proper
ty?"
I'VE usually let the owner make out
his own blanks.
This witness made an affidavit in the
case before Judge Simonton, and did so,
he said, because the affidavit set forth
what he believed to be true.
This witness was cross examined by
Maj Shaw, specially in regard to his own
property, and the affidavit he signed.
This concluded the testimony for the
day. 1t will be resumed this morning at
$3.50 o'clock.
NO CONTRADICTIONS MEANT.