Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1902-07-18

noon which was the largest and mosl
successful yet held. President N. H
Owings was in the chair. Memberi
from all parts Of the county were
present and in addition brought sc
many converts with them that the
membership of the league was about
doubled.
FINANCIAL STATEMENT.
The Executive Committee reported
as to the condition of the finances OF
the city and county as follows:
The total value Of the property OF
this county as assessed and equalized
by the Board Of County Commission
ers is $5,3l5,772.OO.
Total levy for cure mt year for all
purposes, $162, ,673.6S-
Total general debt May l, 1902, in
cluding Thurston county's portion OF
the State debt, $225,16O.73.
Annual interest on the bonds and
warrants and interest upon Thurston
county's portion of the State debt,
amounts to l2,434.S2.
Your committee find that the vic.
ious practice by County Assessors, oi
placing high valuation npon prop.
erty, especially in the city of Olympia,
has placed us at very great disad.
vantage by compelling us to pay more
than our just portion of taxes to the
State.
As matter Of fact we are satisfied
FROM such examination as we have
been able to make that we pay more
tax to the State according to the
value of our property than any other
county in the State; our levy for the
current year is greater for State pur.
poses than it is for county purposes.
FINANCIAL CONDITION OF THE CITY OF
OLYMPIA.
The indebtedness as per the inaug.
ural m essage OF the Mayor Of the city
on January 7, 1902:
Total Indebtedness OF the city in
cludins all bonds, warrants, ETC., $685.
10000.
Add to this the Indebtedness ol
School District No. /, which embraces
the city of Olympia, including interest
aud outstanding bonds and warrants,
$l26, 1861.
And also the accrued interest de.
fsulted on bonds amounting to $lO,-
O44.74, ard it makes q grand total
of s462 2.041.65.
This is the encumbrance now upon
the property of the city and thus it
will be seen that according to the as.
sessment as equalized by the Board OF
County Commissioners that the small
portion OF the county covered by the
city representing about two.fifths OF
the value of the taxable property Of
the county has an Indebtedness OF
SALT ,OO9.5O more than the three.fifths
situated outside OF the city of Olym-
pia. As will be seen by these figures
School District No. l, upon the basis
OF 80 per cent. of the levy being COL
lected, will yield about 5000 per an
mum, based upon a levy up to the
limit Of the statute, five mills, while
the current expenses are more than
$4,000 per annum. In other words
it has $4,000 appetite with an $S,.
GOO capacity and at the same time
more than $4,000 in arrears in de.
faulted interest on bonds, to say moth.
ing Of accrued interest on warrants.
RAILROAD TAXATION.
The following resolution anent tax
alton OF railroads was reported and
adopted:
WHEREAS, In 1901 the Northern Pa
cific railroad had 5,l0O miles of road in
its entire system, which includes all
branch lines;
1t was bonded for. .$32, ,244.00 per mile
1t was stocked fOr.... 2S,9O2.OO per mile
A total of. SOL 156.00 per mile
1t paid per cent. interest on its bonds
and per cent. dividend on it's stock.
The stock was put into the Northern Sc
curities company at $ll5.0O per share,
par value of $4,000 per share. Its mar
ket value was $ll5.OO per share.
So the value Of the road per mile for
purposes OF taxation was in accordance
with ruling approved by the United
States Supreme Court-at least $65, 600 a
mile. 1t was assessed throughout this
county and State on an average of less
eleventh Of its actual valne. 10 put the
fact correctly. in 1901, the ordinary citi-
zen in the city and county paid taxes on
the full market value Of the property
while the railroad paid on less than one
eleventh Of the market value Of the road.
The county of Thurston has "A 1916
$3.50 miles of Northern Pacific railroad
on which the company paid $l3,2lO.S2
taxes. If they had paid taxes as you
and l pay on the actual value OF this
property they would have paid $132, 10S.-
20. In other words they did pay $l3,-
2lO.S2, whereas they should have paid
$l32, lOS.20. To state it in another way,
they did pay *l3,2lQ.S2, difference in
favor OF the railroad az against the other
taxpayers of the county Of $118.S97. .3S.
WHEREAS, 1t is a matter of record and
a notorious fact that the railroads of this
State are not paying their Just portion of