Omaha daily bee., 1902-06-15

decreased about 81, 500, 600. or about one
third OF the total decrease. Again. with
the prospect that the assessment Of other
property In the state will be increased
some millions Of dollars this year, az It
should be, I believe that the board would
have been justified in increasing the rail-
road assessment at least 81, 700. 900 and so
expressed myself at the board meeting and
I still think that when the returns are all
in they will prove the business OF my posi-
tion. In the face Of the fact that our state
Indebtedness is now about twenty times
our constitutional limit and still increas-
ing. even with economical administration
Of state affairs. it lie very evident that
there is something radically wrong and
that some classes or all are not paying
state tax enough. The mandamus suit is
all right. as It will most likely settle a
much disputed question. / did not at the
time Of the meeting Of the board and do not
now believe that the statutes OF Nebraska
provide any way for ascertaining the value
OF franchises. l am In favor OF taxing
franchises the same as any other property
OF value, but the question is. how is the
board to find out the value Of them? Our
first answer stated the fact that we did
not assess the railroad franchises and
we asked the court to place a construction
upon the constitution and laws and lay
down a reasonable rule for following them.
| believe the board did it's duty as far as
the franchises are concerned, as far as it
Understood the laws and as far as the laws
go.
Value of the Railroads.
According to the latest reports on hle
the railroads Of Nebraska are worth s25s.-
100000. which, l understand. includes the
value Of the franchises. My understand
ing Of a franchise is this: Suppose a GER
tain railroad company has a line 400 miles
long, and that it would require 81, 900, 900
to duplicate it. Now, supposing that road
has issued bonds to the amount Of 81, 75O,-
900 and stock to the amount Of 1880, 900
more. and that the stocks and bonds are
selling on the market at par. That rail-
road is worth SO, $50, 900, yet it could be
rebuilt complete for s., 900, 900. The addi-
tional S1,250,000 is the value Of the fran
chise, an intangible something. but never
theless a valuable something because peo-
pie will pay their money for 1t. 1t is the
railroads right to do business as a COM
mon carrier, to occupy a certain narrow
strip Of land for the railroad right of-w
or course, this franchise is not worth
anything unless thesroad is making money,
but whenever you find a road paying inter-
est on its bonds and declaring a dividend
OF about 4 per cent a year you can depend
on it that it is not losing money"
The governor concludes his statement
with the following: LAS governor ! have
tried earnestly and conscientiously to do
my duty. l have kept close watch on the
various matters which come under my SUI
pervision and l believe there was never a
time in the history Of the state when the
institutions were better managed and at
so little cost as at present. In a few In
stances / have been harshly criticised for
doing what in my judgment I considered
just and right and time will perhaps bring
a kindlier construction on this phase Of
my administration, feeling that no matter
what others may say. my conscience il
clear"
Reward for Murderer.
Governor Savage this afternoon issued a
proclamation offering a reward of 5000 for
the arrest Of the murder OF 15-year-old
Waltermer Harbold. The boy was killed
on the morning of June II while passing
along the road just south of Grand Island.
He resided in Campbell.
Aet2g under instructions from the board
Of directors of the Union Commercial club.
Judge Tibbets today prepared and filed with
the council, sitting as a board>of equaliza-
ton, complaints against the assessed val
uations Of 5000 900 against the Lincoln
Traction company and the Lincoln Gas and
Electric company. One was also filed
against the Nebraska Telephone company.
assessed at 500. 900. His Instructions were
to look into the matter and make such
complaint desirable and proper.
Sixty teachers from various parts OF the
state have been enrolled for the summer
school to be held at the State university.
During the present week the visitors have
enjoyed the commencement exercises and
arranged their studies. Tomorrow and
Monday more teachers are expected and a
spirited rush in registration is anticipated
at the beginning OF the week.
Prof. George A. Condra, head Of the bio
logical sciences at the High school, has
handed his resignation to the board. Next
year he will be at the State university, in
a new position created for him in the geol-
ogy department under Prof. Barbour.
Aarsest Delegation from the Third.
The Third congressional district once a
democratic stronghold, will have a larger
representation in the republican conyen-
tion than any other district, the aggregate
number being PIP. other districts will be
represented as follows: First, l6s: Second.
@@or III w. EheAf AZ 6AAAuf IO1.
John T. Msllalieu has resigned as a mem
Der of the state committee for Buffalo
county but expects to retain his position
as secretary until a successor is chosen
either by the convention or by the new
chairman on authority given by the conven-
ton. He intends to remove from the state
at the end Of next week, however. and will
not be a candidate for reappointment. Nor
rs Brannen OF Kearney, has been men
toned for the place.
Chairman Lindsay will be a candidate, for
reelection and thus far there are no as
pirants against him.
Lancaster 'county's candidate for COVER
nor. II. H. Wilson. has the choice Of head
quarters at the hotel and is prepared to
do some vigorous work. J. B.. Densmore
OF Clay, has been here most OF the week
and will open headquarters Monday morn
ing.
The other candidates, W. N. Robertson
Of Madison; Pau lessen Of otoe; W. @.
Sears OF Burt. j. H. Mickey Of oseeola. are
expected Monday or Tuesday morning.
Among the candidates for treasurer are
John d. Bressler. Wayne; Herman Saun-
ders. former state senator. Knox; J. J.
Johnson. Saunders. and Peter Chartenson.
Valley. Tn latter was the party nominee