Omaha daily bee., 1902-05-18
ENDEAVOR TO COMPROMISE
Street Railway officials and Real Estate
Men Hold Conference.
THREE HUNDRED THOUSAND DIFFERENCE
Realty Committee Insists on $780,
900 Assessment and Corporation
willing to Make Figure
Only s1,OOO,OOO.

A conference was held Saturday between
the tax committee OF the Real Estate ex-
change and representatives Of the Omaha
Street Railway company for the purpose OF
agreeing on an assessment figure for the
company that would be acceptable TO both
parties. The meeting, which was sought
by the company, was held in the ONCE OF
Guy @. Barton in the New York Life build
ing. 1t began at 10 a. m. and ended at
1890. at which hour nothing had been &C
complished in the way Of a compromise,
as both sides stood firm. The Real Estate
exchange was represented by c. r. Harri-
son. F. D. Wead and FIVE other members,
and the company was represented by the
president, Frank Murphy, and Attorney
John L. Webster.
II 10 understood that the company is
holding out for $1,000. 900, while the ex-
change insists upon the assessment being
nxed at $1,000. 900.
The figure maintained by the exchange,
II will be remembered, is the figure agreed
to between the tax committee and the Of
hcers Of the company nearly three weeks
ago, but which the latter afterward re-
pudiated.
Tax Committees Position.
A member Of the tax committee said to
a reporter for The Bee:
III we reach an agreement the street
railway company will have to come up to
our figures, for wen not come down to
theirs. We don't feel any too kindly
toward the company anyway for backing
down from the first agreement, which was
based upon a very conservative estimate Of
the value Of the compsny's property.
You see, it's much less dlhicult to get
at tho valuation Of the street railway COM
pany's property than It was to appraise the
property Of the other four corporations, be-
cause everything is open and above board.
For example. we don't have to guess at the
value Of their stocks; we know. They have
Issued $1,000, 900 worth of stock. all OF one
kind, which sells now at something better
than 80 cents. Last September G. w. Wat
ties bought 1000 shares at so cents and this
spring DR.. s. d. Mercer tried to buy some
ghares at 90 cents and the company would
not sell at that price. The sale last fall
was to meet an emergency, or It probably
wouldn't have been made. These stocks
have been paying 4 per cent dividends for
the last three years. The company has is
sued bonds in the sum Of 81, 400. 900, which
arc drawing . per cent interest"
motlOn Tor New hearing.
Attorney Mcintosh, representing the COM
plainants, has filed in tie ONCE of the city
clerk a motion for a new hearing in the
gas company case. The motion is as fol-
lows:
Before the city council, sitting as a
Board of Equalization. In the matter of
Omaha Gas ompany.t Motion for a new
trial,
George :" Morton. compiainsnts sVG IN t hat
complaint filed herein on the 18th day of
January, 1902. and move the said board
for a new trial of their said complaint
upon the several grounds following, to-
First. That the decision Of the board
Second. That the board has failed to
fnd in its decision the fair cash value Of
said company within the city of Omaha
and subject to taxation therein for 1909
Third. That said equalization could
not on any view OF the evidence be less
than the sum of $1,000.
the trial and duly excepted to. '
law.
At the request of Attorney Mcintosh the
following witnesses haveIbeen subpoenaed
by the city clerk to appeal before the Board
Of Equalization Monday morning: DR.. s. d.
Mercer. Henry E. Wyman, G. W. WattIes
and Fred A. Tucker.
Says Gas Company Too Low.
A prominent real estate man, who has
been ION the inside OF all the conferences
with the officers of the FIVE corporations, is
credited with saying that the assessment OF
$775,0o against the gas company, decided
upon by the Board of Equalization after a
week spent in hearing the case, is just
$3.50 less than the price which the COM
pany admitted itself as willing to pay.
I'm the conference there was a difference
OF just $1,000 o between u.s." said he. I'VE
held out for a round million, and they pro-
tested, saying they were willing to pay
5000. 900. but not a cent more. But the
Board Of Equalization was kinder to them
han they were to themselves and put their
assessment down to SITS. O00."
F. d. Wead was seen at 3 o'clock. HI
said: I'VE have nothing to give out to
the press at present. The tax committee
Of the Real Estate exchange will meet at
. o'clock Monday morning and then we will
know whether there has been an agree
ment or not"