Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-10-05

of railroad property, not including new
mileage, placed the relative proportion
of railroad taxation somewhat higher
than in previous years. The reduction of
s3S, 5000 in the assessed valuation of all
the property of Iowa. other than rail-
roads. between 1893 and 1899 inclusive, is
ton of 100000 in the railroad assess
ment prior to 1898 is always featured.
But understand the criticism of rail-
road assessment relates principally, II
lot wholly, to the Northwestern system.
Twelve years ago a most distinguished
chief executive of this state made spe-
cial study Of the railroad problem, and
became a recognized authority on the
subject. The executive council at that
time made what was then believed to be
an equitable adjustment of the burdens
OF taxation, both as between real estate
and railroads, and as between the sew
eral lines of road. So satisfactorily was
this work done that there was left no
man who would venture the suggestion
that the railroads had been favored in
the adjustment. This administration was
followed by that of the only democratic
governor Iowa has had since the Organt-
xaticn of the republican party, and he,
evidently having in mind the then recent
past, took occasion to cadtion the legis-
lature in his first inaugural address
against doing an injustice to those in
terests so intimately connected with the
development and prosperity of the state,
and in the first year of his administra-
ton the council reduced the aggregate
nofe fY1r
rished by county officers in all but two
or three counties Of the state disclose
the fact that the average selling price OF
land in Iowa at the time of this ADJUST
ment was S27.2S per acre, and that the
identical land go sold was assessed at an.
average OF $11.45. or at AZ per cent OF It's
actual value. The average selling price
of farm lands in March Of this year was
s44 per acre, and these identical lanSs
are now assessed at 1926, or at 81 per
cent of actual value. Thus while land
advanced in value sis per acre on an
average. the average assessed value of
the lands on which the comparison is
made has been decreased 81 per acre.
There is no property in the world, bar
ring mineral lands, that has increased
in value as rapidly as farm lands IN
Iowa In addition, the number of cities
and towns in the state has increased As
per cent. Urban population has in-
creased AZ per cent. New homes have
been built In cities and towns for 300, 600
beople, while the kind and character Of
the homes have improved amazingly.
state has doubled in the last ten years
a. Fo o$f,-
ries has increased over $3.50, 100000, more
than 225 per cent. While all this increase.
has been going on, the number of miles
OF railroad has Increased only 1,13s
miles, less than II per cent, and with
scarcely an exception this increase has
been in short lines and branches Of COM
paratively little value. And vet the ex-
secutive douncfi jias SO adjusted. xaxeg.
that railroads have never paid as high
proportion of the taxes of the state as
under the last three assessments. In
view of what the independent" papers
have said, it may be a surprise to some
os you to know that in the last twelve
years the executive council has in
creased the assessed valuation of the
main line of the Northwestern road 17.5
per cent The assessed valuation Of
farm lands In the thirteen counties thru
which this main line extends has been
increased In the same length Of time on-
ly 7.2 per cent. Town lots in the same
thirteen counties have increased in the
same period only per cent. while live.
stock, notwithstanding the Increase in
number and in actual value, is now as
sessed in the aggregate 247 per cent
lower than twelve years ago
Had the council Increased the assessed
valuation Of all the railroads in the
state in the same proportion that 1t has
Increased the main line of the North
western, the aggregate assessed valua-
tion of the old mileage mot including
roads that have been built in the last
twelve years. would be over $50, 900. .000
1t is true the council has decreased the
assessed valuation of the whole Rock
Island system in the same period ~
per cent. Its 1,o61 miles in 1883 We're as
sessed at sS422, 600. Its 1,1n miles in
1901 (an increase of 10 miles) are now
assessed at s7,394000. But let it be
known, no man has complained Of this
reduction.
Personally, 1 have reached the con-
clusion that the present law. difficult as
1t is to administer, will be found some
what difficult to improve upon. Others
may think differently. 1t is not ques-
ton of integrity, but of judgment.
And what is the present law? The ex-
ecutive council is required to take into
account the same elements that would
naturally be considered II the roads
were about to be purchased. They are
expected to consider the roadbeds, cul-
verts, bridges, stations. sidetracks,
right Of way, rolling stock, stock, gross
earnings and anything and everything
else that may, go to determine the val
ue of road. If one We're buying road,
he would consider it's nearness to par
allel lines; it's opportunity to secure
transcontinental business, and the
amount of business 1t had previously
done. as we'll as its opportunity to in
crease Its earnings But no one of these
considerations would determine the
price to be offered. The prospective
purchaser might believe he could in
crease the business of the road. He
might fear it would fall off IL the man
agement were changed. But he would
never determine his bid for the road by
the market price of stocks and bonds,
or any other one element 1t is as im-
possible to formulate a safe and certain
basis for purchasing railroads as to
provide by statue fixed and equitable
standard for assessing railroads.
FIRE At INpiANoLA.
p.rn Rnrne and Sevan Rlooded