The Minneapolis journal., 1902-08-05
The GAS co. OBJECTS.
To $500, 900 Addition to Its Per-
sonal Property Assessment.
IT THINKS IT ADDED ENOUGH.
Made It's Voluntary Return over
$4,000 Higher Than
for 1901.

w. H. Levings, secretary of the Min
neapolis Gas Light company, appeared be-
fore the city board Of equalization to-day
to protest againt the 100000 addition to
the company's S. statement Of its personal
property, arbitrarily made by the city
assessor. In the company's return the
personal property, Including stocks and
bonds or franchise" was $49S, S,140. To
this the city assessor added $500 900, MAX
ing total Of 1898, LAO. Against this the
company protests. In support Of It's
protest Mr.. Levings made a statement In
substance as follows:
: In 1901 miscellaneous items, including
horses, vehicles, office furniture, COAL, coke,
tar, oil, lime, street mains, tools, meters
and cash on hand, were estimated at $17S,-
083. The value Of the company's real estate
for the same year was placed at 1852, 418. This
made the total of personal and real property
$3.50, SOL. The capital stock being $500, ,000, the
difference represented the franchise or $685.,
499, which with the miscellaneous items above
made total .of $447,582 to be taxed as per-
sonal property. The assessor thought this
was not sufficient and added an even $780,
900. The board of equalization did not allow
this to stand but fixed the personal assess
ment at an even s500,000, thereby adding
$52, ,41S to the amount the Gas Light company
had returned as taxable. - -. .- -
This year the company voluntarily in
/cellaneous, $1S191e, and real estate, $201, 1850,
making total Of $SS3,779, which deducted
from the capital stock increased to 100000,
left $316,221 for the franchise. This added
to the personal items (miscellaneous} made
total of taxable personal property of $685.
104, or voluntary increase of over 300, O00.
To the companys return, as stated above,
however, the city assessor added $4oo,OOo,
which the company sought to have set aside.
Following this statement of values, it
was contended by the gas company that
the assessment of 1901 would increase the
taxes very disproportionately to the gen
orally conceded fair proposition OF a
gross income tax. The gross income OF
the gas company for, the year 1901 was
| $551 602, and the total taxes paid. were
real estate, $4,6O7.03; personal property,
$16,350.19; total, $2o,957.22, equal to S.S
per cent on gross income. ~ II
The valuation as placed by the assessor
for the year 1902, If allowed to stand,
would amount to paying taxes on q valua-
ton both real and personal of 81, ,1OO,-
600, and at 3O-mill rate of tax levy
would require the gas company to pay
$4,000 in taxes. s"E.-. ..-> r.,
Estimating the gross income of 1902 at
| an increase of 10 per, cent over the year
| 1901, it. would amount to $606,762, and II
| the assessment Of the assessor should be
allowed to stand, this would amount tc
544 per cent on gross income.
| If the return as made by the gas COM
| pany is permitted to stand unchanged, II
! will mean, on the basis of q 30-nnills taa
levy, payment by them of s21, 900 taxes
equal to 3.46 per cent on gross income.
The company holds that that is fail
tax in view of theo fact that 4 per cen
as gross earnings tax is regarded al
high. But Mr.: Levings went further
He said: -. e.. --t
In 1882 the Gas Light company paid tota
taxes amounting to $3.50; in 1901. $2o,s57, al
increase Of 147 per cent in taxes. In 1882 the
received $3.50 per 1000 cubic feet for gas
in 1901, $1.2O, a reduction of 50 per cent. Dur
ing this entire period the capital stock ha
not been increased. nor the rate OF divi
dends. >f g -: :-&5r..-. p. -
The record Of the Gas Light company TO
paying taxes has been one of steady progress
the total tax in 1898 being $4,000, and i
1901, s2O,e57, an increase Of nearly 100 pc
cent in four years. z .-..~