Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-03-16

- 1JV kAS GA u OlONkAl
station. That is all there is to IT, He
That is all there is to this talk about
market value of the properties Mr..
Baldwin's remarks caused an audible
felt called upon to modify his state.
Iceeding. He secuted the idea that any
thing could be told of the value of rail-
road property by the market value Of
lington stocks were quoted at 81, then
they went to 1O8 and then $50. How
could you reach any conclusion as to
ing these prices? The question before
the council he said, is how does assess
ment on railroad property compare with
assessment a on other property? We had
this question up when We had a demo-
cratic governor. The Farmers Alliance
took it up and employed Gen Weaver
to present the matter. Mr.. Ashby, since
made consul to Cork, was also before
here. They had figures showing the cost
When the hearing was done the pres-
dent of the Farmers Alliance called the
governor aside and told him they had
learned something and that they We're
willing to allow the council to make the
assessment in the old way. That was
the last organized effort to have the
assessments based on market values.
Perhaps the most interesting colloquy
during the hearing thus far was when
Mr.. Law, manager of the Burlington &
NorthMestern presented his argument
for a reduction of the assessment. He
presented good case. His is a narrow
guage road. The property wouldn't sell
for anything. The cars and engines
could not be sold. They have no mar
Eket value. But a few years ago the
lcouncil assessed the road $500 a mile.
/ That very year the gross earnings fell
off per cent. The operating expenses
eat up allatle profits. For several years
I the company has been operating With
out earning a cent. Governor Shaw
asked Mr.. Law what his View was as to
the manner Of arriving at a basis Of
valuation for assessment purposes. He
He Thought ii right to assess on net
earnings. not gross earnings. A proper-
ty which earns nothing should rot be
taxed, he declared. Immediately Mr..
Martin asked him how Ii would be with
roads that have no net earnings-shoud
lthey be relieved of all taxation2 MIR.
Law said that was nut for the council
to crack. Governor Shaw also suggest
Z - - .,.''
.su no ~ 'i.sil wv lul
80 sis 80
y = ~ Y
.,s ,ian. y n'sn s'ioMs q ns'lai'',e ol
-, ~ ~ $. :,
!, ~ - - tAe aiu
s. = A.i'els ~ ~ 10" ~ ~
80 ~ y eal li.lss VI, LaN roau =
-
~ 80 = eoi.ulsion Mil
- s 2 = : ~ = i.sosAss .ss g. pms
/ Mr. coodr;cb of No 1.eo,.,,,, q w..
lora,.
noin. os cotnnara two osssss,,,s,,. -
railroad and farm ,,ro,,.rty ,,a az, ,,sa
comn,,tation had haan ~.
few wears aeo
for axan,nl. ana Z, a, sa,.,,,
nronerty vas nav;ne tays =, q. !
arno,,nt az aho,,t ~ t,ar ...,,, - II ]
gross earnings and rai,roa,1 ia -,
aho,,t ~. ne, oen, an ,,-,ss r,,;,,,r.
W,hen the com is
| ltual yalues tht. lrs-splt IL s,,,,sta,,i.,ll,.
| tha same 4, ~ :
-.
The fol,owinr l. t,a rssa,ut ion ,,-t;c,,
VA / presented, 4, the conrcil =, -. ',,,s
openinr session hy Mr. Martin sacra-
itarv Of STATE ans, farnos rho. Ia sis q - !,
discussions invited from ,,.nrssa,,t J, ,j,.s
OF the raIlroad eon,nan,.ss = =
7.yhereas TbA cross a:,rn;,r 80 ,ba
ra;Ir,,ads ~ tha stata ~ r,,,ya,s 10
nort.-a for / be. v.ar 1905 ,,.ars ssaias, ooo.
Far s, 1907 s41 sa5 oe,s 80. u, 80,
/ 549,67s. and
Whereas, The assessed valuation OF
\ the railroad property of the state. based
upon the reports for said years. has
been as follows towit: For the year
| 1897. s44.373al6: for the year 1895. s44.-
AIS, ,7s2 for the year 1899. ss44. .55O. .l29. and
| for the year 1900. s46.O0s. $40. and
"Wnereas. The increase in the as
sessed valuation made in the year 1900
Twas substantially for increased mile
age, and
.yyheraas tht urass aarn;nor of ea;5