Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-03-28
TIE EXPRESS
The Executive Council Wrestling
With Difficult Assessment
Problem.
The New Law . Complicated
Affair..How the Assessments
Are Made.
Reports Of the Companies Show
Some Peculiar Features OF
Business.
,ecial to Times-R Republican.

ecutive council today came up plump
against the question of making the as
sessment on the express companies Go
ing business in Iowa. There are six of |
these companies doing business in Iowa.
Their reports are made 10 the auditor
of state and to the secretary of the ex-
ecutive council. The blanks are sent out
by the auditor of state. He alone has
authority to direct fuller reports or to
commence suit to secure Information re-
garding the companies. Last year was
the first time the companies We're as
sessed under the present law and the
assessment was made in May of that
year. The companies We're assessed as
follows, per mile: Adams, s25; United
States, s24; American, So: Pacific, $24;;
Wells-Fargo s25; Great Northern, sS77.
The reports of these companies Indicate
that the council will have a hard time
making the assessment. The companies
claim many exemptions. The law pro-
vides strangely enough in view of the
fact that the railroad assessments are
made or a different basis, that the value
by adding the market value OF the
stocks and of the bonds, and deductings
therefrom the property owned by the
companies not used in the express bus
ness. This exemption provides the loop
hole thru which the companies may es-
cape taxation. One strange feature of
the business is that only few OF the
express companies are regularly organ
lied stock companies. They are either
firms or loosely organized associations.
After the assessment is made it is ap-
sportioned to the counties according 10
the mileage covered by the messengers
of the companies without regard to tbs.
business done over the roads. A town
! ship thru which forty express cars pass
every day gets no more than one on a
brasch line where there is ore expr ess
\ car a say Tie - have heen re-
ceived by Auditor Merriam and were
today laid before the members of the
council. none of them having seen the
reports until the opening of the meet
ing.
4 The American Express Company re-
ports what it calls Interests which
correspond 10 stock Shares TO the
amount of s1S.000.000 of a market value
of s26, 100, 900 Jan. last. The company S
/ real estate in Iowa is valued al 5000
4 and its personal property a I SlS,5SS.lo
The company's holdings outside the
4 state of Iowa not used in the express
business amount to s203S. .40s.6s. 1t alsS
a has bonds stocks. bills receivable anc
N mortgages to the amount of 1891 929.-
4 03. In regard to these latter the com
pany- states that these are investment.
not used in the express busnessbut held
s in New York city the same as similar
investments are held by other investors
The total mileage of the company i:
4O.7S5 miles, of which 2,465.52 are il
Iowa.
a The Pacific Express Company il
stocked for S6,000,O00 but does not give
4 its market or actual value 1t has n,
real estate in Iowa, but its persona
property In .he state is valued at 81.
, 361.45. There is no mortgage on the
property Its mileage in the state i
1885 miles, and outside the stat, is.
442 miles 1t claims no exemptions What
!, ever.
The Great Northern Express Com
pany is capitalized for $1,000. 900, bat tn
market value of stocks is beyond tn
knowledge of the owners. II has no rea
estate in iowa, and It's personal proper
! ty is valued at $500. 1t owns no bonds
: real estate or other property not use
2 in the express business. The compan
4 lis now engaged in disposlng of $4,000
g of the government bonds it owns, whic
were required to be held in the state Q
!, Oregon. Its only real estate anywhere
e a barn ct st. Paul valued at $4,000 II
y total length operated is 5.4S37 mile.
: and in Iowa it has I7.sS miles.
The Wells. Fargo & Co. business
done on a capitalization of $4,000 900, tn
shares having a value of s135. 1t has n
real estate in Iowa, but personal proI
erty valued at s9,67l.63. The company
: also in the banking business and ha
banks In New York, San Francisco
: Portland and Salt Lake City. Its cap
J. tai used in the banking bushes
: amounts to 81. 1923, ,000 All of its real es
Z. tate, bonds, etc, are used outside tn
:. state. the real estate outside of low
!. owned by the company being valued {
), : 81. .225. 900. The approximate value of tn
II !, running equipment" used in the e,
press business is placed at Sl,020,000, a
of which, except the ss,671.6S reported,
Ioutside of Iowa, and all of which is a.
sessed in the states where il is. TT
d mileage of the company is 42,67o, and
1t Iowa 54s miles.
lt The report of the United States e,
y press Company is far from satisfactor
E. This is a. company not organized as
,e corporation at all, has no capital stoc
but the ownership is divided into 1000
shares. which the officers swear ha,
a value of $50 each, or total value
n the company OF $4,000. However, Il
\ company owns real estate in Iowa va
Il ued at s6,943.5s. and personal propert
q to the value of s1s.1S4.93. The real e
I tate it owns outside the state not us,
for express business is valued at $14f
1872. The outside real estate used +,
express business is valued at sl,Ol1,37I
49, The bonds and other property own'
" and none OF which is used as part
l. the express business represent a val
lof s1.s41.s7s75. There are no mortgag