Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1902-02-20
DEMOCRATS OPPOSE
ANTl-pASS BILL
Vigorous Fight Will Be Made
Against 1t by the House
Minority.
HERRIoTT ON TAXATION
Lieutenant Governor Givos Senate
Sub Committee His Views on
Assessment OF RaIiroads
Tide Against Hull.


Sub Committee His Views On
Assessment OF RaIlroads--
Tide Against Hull.
Des Moines, Ia, Feb. 1S.-It turns out
that vigorous effort is being made
by some of the democrats in the house
to prevent the passage of the anti-pass
bill. Whereas the senate democrats
are practically unanimous in favor oi
the measure, the house democrats are
closely divided on it. and those who
oppose it ara disposed tc be bitter In
their antagonism. They say that if
the bill passes it Will be Il bad thing
for the democrats. that IS matters row
stand the republicans get most OF the
free transportation, but tho democrats
occasionally get a chance at {, liitle ri
It, But IL this measure Should become
law they insist that mo democrat would
eyer after get amy transportation.
While the railroads WOULD easily fiu5i Il
way to clcumvent the law. II do8s.l /
sound like a very convincing argument,
except perhaps when addressed to 4
man with his pockets, ltlil of transport
tation and DESTROYS of keeping il. lint
~ - lIlt SAME sstl1t!iI SO!t III dIs-itii'sIt
that is also used among republicans.
Men who have always taken fler trans
portation and whose records are such
that they are commonly regarded us
firm friends of the railroads, solemnly
declare that they have never been nNu-
enced one whit by the transportation
they have taken: chat hey can't con-
ccivc q legislator being 50 weak as to
be Influenced in this way.
VIII Hear IlcTriott.
Lieutenant Governor Hemiott VIII
this afternoon lay Before the senate
subcommittee on Ways and means a
written statement OF his Jews COR
corning the railroad taxation lcgisla
tion that ought 10 nr formulated. MI.
lIerrott told the committee. when it
called on him, that he would take THIS
method of expressing himself. II is
said that his discussion will be along
the lines of his famous speeeh last
summer. i'm which he replied to Gov
ernor Shaw and stated his own Views
AT that time MIR. lIerriott presented
first the absolute injustice of the pres
ent method of assessment. Then he
discussed methods of improving col-
ditions. He outlines two plans. First
was the capitalization OF net earn
ings. That is, III q railroad company
|iHp'''''HS'
year, it is To nc valued AT such II sum
as will earn sl0,o09Goo IN Il year. ut cur
rent interest rates. If the iatQlrst rate
taken is !, per coat, Oh which Iowa
farm mortgages are made. the road
earning $lo,1o0.GG0 would be wolth $2p0.-
0oo.c0o. IT 4 per cent be taken as the
current rate the same road would be
worth $250.oe0Goo. iFin objection is
urged against this plan that il is all
e-..ii, ga, II,
statement Of nel earnings. So much
money is used for improvements. for
buying nsw cutiiiment for buidil g
extensions, etc, that it would be nj
most impossible 10 separate the cost of
permanent improvements from the c,:-
pensa of ordinary maintenance
Stoke ard BONDS f7isn.
After stating the foregoing plan. Mr..
Dcri'iott next took UP the proposal to
tssa stock and bond values as the basis.
] ic made Very fair statement of this,
and admitted that il had appealed more
to him in recent time than
when il was first brought to his at.en-
tIoa.
j. Is known that Nj. Herriott while
re Nes"s with increasing favor the
stocks and bonds idea, will not recede
from Ills view expressed last summer.
ii means for the opponents of legisla-
lion 10 argue against whatever bill is
reported. n the committee declares for
the net earnings method, those who
really want nothing done can take up
their cudgcls for the stocks and bonds
idea and help to divide the forces that
really favor accomplishment. And If
the committee presents the stocks and
bonds method, its opponents will he
able To urge thal Iiefriott. the man who
more than anybody else made this is
sue i'll Iowa fuvors tho other first. To
divide the forces OF reform Will be fatal
in such contest as is ahead. Mon Who
dare not mako records directly against
reform legislation. but who at heart do
not want to help accomplish results.
will be able To insist that they would
have favored The Bill If it had taken the
other method. divide and conuuer.
was Napocon's military nEtNin; and
ii may prove the policy OF the Iowa
political Mlpoieons.
Iowa's War Claim,
1t looks as if Captain j. $. i.uthrop.
after getting, in sight Of a $4,000 fee
for collecting The states war claims.
would secure only a small part of that
amount The more the matter is nves-
tigstted at Washington. the moro APP
parent ii becomes chat Iona is certain
to receive ut least q large slice of it's
claim and that il wiil be paid in a short
time. without much expense. Senator
Allison writes To Governor I',lmlmins
that the Iowa claim has been with
drawn from the court of claims. and
that the treasury department will adj
judicate us much of ii as can be set
tied on the basis of decisions already
made. These are understood To be
broad enough To secure u considerable
share of the $lG5000, which is asked.
Secretary Shaw writes q letter CON
firming the statements made by SEN
alor Allison. He viii send a special
auditor of the treasury department to
Dos Moines to verify statements which
have been made from the records The
prospects are that the legislature in
stead Of authorizing the governor to
contract With Captain Lothrop will
simply place the whole matter i'm his
hands; that Governor Cunlniins will
engage him TO prosecute the matter,
and that he will be paid from the fund
which is at the governors disposal for
hiring additional counsel when needed
This Will probably shrink the fee very
much from the amount that would
have been secured had the bill passed
to engage him as agent.
Giibertson Sees the LIGHT.
State Treasurer Gilbertson. in an in
terNiew, declares that he believes the
market values of stocks and bonds fur
nishes the best test of the value of n
railroad. Mr. Gilbertsons statement
just at this time has large Importance
Iowa railroads are now assessed at
S41.071 .000. Mr.. Gilbertson points out
that If n new assessment has to be
made under the present law. by March
%, 1t will be at best only another guess
WORD is KEPT.