The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1903-08-31
GEORGtA'S> FRANCHISE TAX
AND NORTH CAROLINA LAW
Good Results North Carolina Gets
Under New Franchise =,
Tax Law

Raleigh, n. c.. August 26-(Specall-
The corporation commission YVES estab-
ltshed the railroad commission by an
act Of the Legislature of 1891 and began
its duties April / of that year. The
original act was very like that of Geor-
sia, and Chairman James w. Wilson Wis
tied the latter state and made a study
OF the rules of procedure and other work
ings of its commission. Many sections of
the interstate commerce law We're also
copied in the North Carolina act.
In 1890 the railroad property in this
state was assessed at 2,32l ,709. The COM
mission increased this the very first year
30 SIS, 1872 29S. The assessments up to this
year have been only upon the tangible
property. The legislature this year re-
Quired the commission to separate them
and assess or appraise the intangible
values OF franchises as well as the tangi-
BILE. The commission was urged in some
quarters to fix this assessment on a 6
per cent basis, which would have made
the total s92 Oo0,000. Those who wished
to force this action declared that the act
gave the commission no discretion and
that, in fact, a cast iron rule was an
impossibility. The chief interest in this
years assessment was to the figures
fixed for the great railroad systems. Here
are the figures arrived at:
The Three Big Systems.
Atlantic Coast Line, 9lS miles, valua-
ton s24,454, Ola, being an increase of Slo,-
475,574 over the 1902 assessment The val
uation per mile Is $25So0. Last year 1t
was ST., 1873, the total assessed valuation
then being $13 97S. 440. The taxes for 1902
aggregated S1S5, 10. or s196 per mile. and
this year are about $500 900, or 1886 per
mile.
seaboard Air Line, 612 miles, valuation
ST. 800 600 being an increase of S3,iSI,2'2
over the 1902 assessment. The valuation
per mile is $2o420 Last year 1t was Sl4,-
247. the total assessed valuation then be-
ing s., 712,72S. The taxes for 1902 aggre-
gated $50. $50, or STAT per mile and this
wear are about $4,000, or s243 per mile
Southern railway, 1879 miles. valuation
so, 3o0. $50, being an increase of sl0474 .9l2
over the 1902 assessment. The valuation
per mile is 500 40. Last year it was ST.
3SS33. the total assessed valuation being then
$15, 500, 967 The taxes for 1902 aggregated
1921 ,'s7, or $50 per mile. and this year are
about $3S5,000 or 1912 per mile.
The miscellaneous roads aggrega ted 800
miles and are assessed at $G,1o1,745. being
an increase of $2,647, 34l over the 1902 as
sessment. The valuation per mile Is
s6793. Last year it was 1885,, the total
assessed valuation then being "a, ,939
The taxes for 1902 aggregated 1880 or
S4S per mile, and this year are about $685.
900. or SS4 per mile.
The Total Mileage.
The total mileage of all roads Is 1884
valuation $70,Ol2.34S, average per mile
s18.259 Last year there were 3.G79 miles,
valuation $42,670,075. average value per
mile $l1 596, average tax per mile Sl4S, to-
tai taxes s547 262-
The valuations. It will be observed, are
in the aggregate that Is, to cover both
tangible and intangible properties. The
law requires the commission to arrive at
the true valuation of both tangible and
Intangible properties and then add these
together, giving the total value, hence
tbAre is no separation in the statement
as given out.
The commissioners feel very sure that
they have arrived closely at the total
value of the property and the FRANCHISE.
PATHWAY companies in this state do not
report their estimates "a elle 'a'"OS ~
tangible properties, but the commission
itself arrives at and fixes this value. me
three g.eat systems filed exceptions 10
tha assessments, and so did the Norfolk
and Western, but these Were overruiea'
and the assessments were. on the l"th
instant. certified to the state andltor'
in order that the taxes might be Connected
nv the state treasurer and the various
counties and towns. There are no signs
of any legal steps to block the coiiectioii
of the taxes. IN the exceptions l.eu ~
+,a No-folk and Western railway it was
olai,ned that the franchise is taxed twice
T,nder tho law: first. under the ad valorem
+av and then under schedules 3 and Z
of the revenue act.