The Wilmington daily Republican., 1901-02-01

Delaware.
To Re-adjust the Amounts to be paid
by the Philadelphia, Wilmington
and Baltimore Railroad Com
pany in communication of
its State Taxes.
Whereas, BY an act OF the General
| Assembly passed at Dover, April 9Th,
1869, entitled San Act taxing rail
| road and canal companies in the State,
being chapter392 of Volume IL, Laws
| of Delaware, and reprinted at page 40
| of the Revised Code, as amended 1893,
a tax was laid upon such companies Of
ten per centum per annu...ai, upon an
equitable promotion Of their net earn
in.g,Ss vr income from all sources and
also tax of onc-half of one per CEN
/ tum per annim upon an equitable pro.
| portion of their capital stock AZ its
market value. and
Whereas, By another Act of the
General Assembly passed at Dover,
| August II, 1864, entitled san Act to
raise revenue for this State" being
chapter 459, Volume y, Laws of Del
aware, and reprinted at page Al Of the
Revised Code as amended 1893. an
other tax at the rate of ten cents per
passenger for each passenger trans
ported by steam power was laid upon
such companies; and
Whereas. BY an Act of the Gcner.
al Assembly passed at Dover. April
II, 1873, being chapter 1868, Volume
IA. Laws of Delaware, reprinted in
the Revised Code at page 81, the State
Treas surcr was authorized until other
wise directed by law to receive from
the Philadelphia Wilmington and
Baltimore Railroad Company the sum
of twenty seven thousand dollars in
communication of the tax Of ten per
ccntum annually on It's net income or
earnings from all sources; of the tax
of one half of one per cantllm on tine
actual cash value or its capital stock
as provided in the act OF April Is,
1863; and by said Act of April II,
1873, the State Treasurer was further
authorized until otherwise directed to
receive from said company the sum of
thirteen thousand dollars in lieu of
the capitation tax upon passengers as
provided by the Act of August II,
1854, above mentioned, and
Whereas, the provisions of the said
act of April II. 1873 wee accepted by
said company at that time as beneficial
to it as Il Communication of its said
taxes, and may be taken as reasonable
at that date; and
Whereas, The State expressly re-
served to itself the right TO read just
the amounts of taxes to be levied and
received by it, and in view Of the
great increase in The business of said
company, and in its net income and
earnings, and IN the number of pas
sengerS carried by it in the past twcn-
ty seven years. justice to the State,
requires that the amount for which
the said company may commute its
taxes should be read djusted, and
Whereas, The taxes to be paid an
nually by said company would amount
to upwards of one hundred thousand
dollars under the acts first above mem
Toned II their operation was not sus-
pended by the provisions Of the conf
of 1873:
Now THEREFORE,.
Be il enacted by the Senate and House
of Representatives OF the State of
Delaware in General Asst cm-
bly, met:
Section I. That the Treasurer of
he State he and he hereby is author
zcd and directed to accept and receive
from the Philadelphia, Wilmington
md Baltimore Railroad Company IN
he year Of our Lord one Thousand
linc hundred and one, and in each
md every year thereafter until other
wise directed by the Legislature, the
,nEual sum of sixty thousand dollars,
o he paid in cqua! quarterly payments
N the first days of July October,
anuary and April Of each year, the
irst payment to be made on the first
lay of>April next, in lieu of all taxes
which may hereafter become due from.
aid company in each yearas aforesaid
ndcr any and all laws of the State.
Xccpt such taxes as may become due
ndcr the provisions of an Act emit.
led "An Act to raise revenue for this
tate, passed August II, 1864.
Section .. That upon the pay
ncnt by the said Philadelphia, Will
lington and Baltimore Railroad Com
any to the Treasurer of the State of
he said sum Of sixty thousand dollars
4 equal quarterly payments as afore.
aid, IT shall be the duty Of said State
treasurer, and he is hereby author
ed to execute and deliver to said
Dmpany proper acqutiancc and dis
barge from the payment of all taxes
tic or to become due in. the year for
'hich such payment shall have been 6
cen made, except the tax due or to
ecome due under the provis ions Of
he aforesaid Act entitled "An Act to ]
Use revenue for this State" passed i
uglet II, 1864.
Section 3. That nothing in this
ct shall be construed to repeal, mod S
y or in any manner affect any exist d
lg law imposing taxes upon The said
'mpany otherwise than to suspend b
le collection of said taxes in anv +
Ear which the said company shall pay
} the State Treasurer the amount "
,ecitied in this Act, nor shall the S
DIVISIONS of this act or anything here "
contained be construed into q con. S
act eXempting the said company
ON the payment of such taxes as D
ie Legislature of this State may y
,rcafter impoSc CnOn said com.