The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-02-01
Is to stand and Taxes to be Paid on
That Basfs-The Increased Amount
OF Valuation of the Three Systems
Over Seventeen Million DoiIars-The
Annual Report of the Corporation
Commission Shows the Railways to
be In a Prosperous Condition
Especial to The Messenger,

AA6o AAiiA(o III ld1h NdluC vi IIdSh
s12,534, 942, of rolling stock $1,000, 376, of
other property s245. 23o. The Southern
has 1,226 miles of track: valuation Of
track SAG ,275, OF rolling stock ST.
PIG, 497, Of other property 1928 $50. The
Seaboard Air Line has $40 miles of
track; value of track 81. 967 $40, of roll
ing stock s576,174; of other property
s121, III. Miscellaneous roads have S34
miles of track; value Of track $780,
33S, of rolling stock s544. S35, of other
property s169, 731-a grand total of 81
637 miles of track and total valuation
of SAP, 1O2, 002.
The Pullman Company is valued at
$3.50, 1872, Western Union 81. O00, 900, Pos
tai $780, 900. telephones $50. 123, steamboat
companies s267. asa. There are 1858
railway employees, of which the Allan
tic Coast Line has 1906. Southern 1858,
Seaboard 3.146.
During the year three passengers on
railways were killed, So injured; % en-
ployes killed, sos injured; 81 trespass-
ers killed. "A injured: in all 81 were
killed and 992 injured.
AS to cost, etc, of railways these fig
ures are given: Atlantic Coast Line,
cost s31, 7S7, 600, capital stock $50, 236, 600,
funded debt S14, 434, 600; Southern rail-
way, cost $685. 33, 900. capital stock $685.
030,0 O0, funded debt S21. 09S, 900; Sea-
board Air Line, cost s11. 735. 000, capital
stock 1921, 900. funded debt Sc, S36 900;
miscellaneous roads. cost s1O,415,Ot
capital $40, 922, 600. funded debt s5,442, 900,
grand total, cost S9S. S72. 900, capital
stock s71,472, 000, funded debt S47,S12.-
0o0; income from operation, Atlantic
Coast Line 81, 624.473. Southern $780,
545, Seaboard I.0S1. 109.
Following is a of the letter
OF Chairman Mcneil to the governor,
transmitting the report:
The report would have been sent in
the first week in January. but for the
fact that the commission hoped to re-
port the settlement of the pending
railway tax suits, which are now set
tied. The railways have had a most
profitable year. The gross earnings of
all from operation are $14, 920, 600,
against S12, 996, 600 the previous year,
1927, 900 against S.1SS. 900. an increase
from operations of $3.50. 900. Sixty
three miles of railway were added to
the states mileage. There is not a
railway in the state in receivers hands.
The Atlantic Coast Line railway,
chartered last April by this state,
owns LII miles of railway. Much
progress was made in consolidation of
the roads composing the SeaDoard Air
Line. The latter will have $500 miles.
When this consolidation is perfected,
of the total 1852 miles in North Caro-
lima, the Southern will operate 1925,
the Atlantic Coast Line 77S and the
Seaboard Air Lin $40.
Last May the commission adopted
! classification % of the Southern Tariff
Association. The railways petitioned
it to adopt classification q. 1t refused,
as it was discovered this would mate
| tally increase the freight rates.
One hundred and eighty complaints
were heard and adjusted during the
| year. The commission has gone over
most of the railways and finds them,
with few exceptions, in good condition.
Last July the railways and other
| transportation companies were assess
ed for taxation. The leading railways
brought ~enjoining suits. Hearings in
this case continued until January 3rd,
and while the hearing was in progress
at Wilmington there was a conference
between President Elliott of the At
lantic Coast Linz and the corporation
commission and its counsel. at which
Governor Aycock was present at the
request of the commission as media
tor and plan of settlement suggest
ed which has been carried out.
By this settlement all suits brought
by the railways are dismissed at their
cost and the assessments made last
yea will stand, and the state, county,
city. and town taxes settled or that ba-
sis. AS part of this settlement it was
agreed that the corporation commits
sion should recommend the assess
ment of the real estate Of the railways,
including their roadbed. every four
years. as is the case with real proper
ty. This seems reasonable and just
and is recommended. By this assess
-~~A "A q -r,1I r. -. A-
treasury, 32.0S4 into the school fund,
SOL $50 to the counties. cities and
towns, aggregate s17S. 244.
The only tax suits now pending
against the commission are thos
brought by the Western Union Tele-
graph Company.
During the yea twenty-siX new
banks were organized, so there are
now ninety-two in operation of which
fifty-siX are charters with general privi-
leges, ten savings and twenty-six pri-
vate banks. These have capital OF ST.
656, coo, against S2.307. COO the previous
year. The total are S14,617,-
600. The banks made five reports dur
ing the ear They had a prosperous
year.
There We're thirty-two building and
loan associations in operation, with
500. 0S0, 900 assets. It is recommended
that these be required to make annual
reports June goth.
The commission this afternoon certi-
fed to the state auditor the following
as increased valuation Of railways owe
the previous assessment on which ta1
had been paid: Atlantic Coast Lin
80 1885, Southern 81. 293. DAG, SeaboarG
Air Line $4.536. 753. total ST., S24, 459
The Seaboard Air Line at once paid tG
the state treasurer 81. 341 and the
Southern paid SIS. 232.
Judge Thomas c.. Fuller is sick a.
Charlotte. His son Frank L. Fuller, OF
Durham, a gone there.
Manteo lodge Of d Fellows here to-
night celebrated its hfty-sixth anniyer.
sary. Governor Aycock and Charlie.
NJ. Busbee made addresses.
All papers in the possession of thu
late State Engineer w. G. Lewis. o
Goldsboro. have been sent here. Hi.
successor is likely to be Joseph H. Nc
Rec, of Wilmington.