The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-23
State Board Of Equalization Will
Add Heavily to Street Railway
Assessment.
Public Service Corporations to Be
Assessed on 30 Per Cent
Basis.

At least $1,5O0,0OO will be added to the
assessed valuation of Hennepin county
under the head Of public service corpora
tons. Tho details have not been worked
out, heavy increase will be voted on the
Twin City Rapid Transit company, the
Minneapolis General Electric company
and the Minneapolis Gas Light company.
This course was determined at con-
ference between the committee on cor
porations and Governor Van SAINT, State
Auditor Iverson and Attorney General
Douglas, finished at IL O'Clock this morn
ing It was decided to assess all these
companies at 30 per cent Of the market
value Of their capital stock, not counting
In the bonded indebtedness. The COM
mittee will figure this over and report next
Tuesday. The board will then give a pub
lie hearing to the representatives Of these
companies. a, t@
Street Railway Company Addition.
The raise on the street railway COM
pany will amount to more than 81, 900, 900.
The assessment. as returned, is $685., 215,
Of which $3,132,53O is in Hennepin county,
s2,146,557 in Ramsey and $117,12s in Wash
ington. The common stock Of the Twin
City Rapid Transit company is 1851 900.
The preferred stock, s3,0O0,000, is counted
as Indebtedness and not figured in. TAX
ing the actual value Of the common stock
at 80, and assessing it at half the actual
value, as the committee has decided,
would bring the assessment UP to $7,429,-
$50. This would be an increase Of over
$2,O00,o00, and nearly half Of it in Hen
nepin county.
Over 100000 on General Electric.
The assessment Of. the Minneapolis
General Electric company is $61e,93O. The
capital stock consists of $4,000 preferred
and $1,500,000 common The actual value
of this has not been determined, but the
commmittee contemplates a raise of from
100000 to 100000.
Gas Light Company's Portion.
The assessment of the Minneapolis Gas
Light company is S912,135, and the COM
mittee intends to raise it. The capital
stock, 100000, is not on the market. and
is difficult to value.
Duluth Company, Too.
It Is reported that the board will double
the assessment Of the Duluth Electric
Railway company, which is returned at
$685. 1926. Its capital stock is $5,000,00
and more than half it's mileage is in Min
nesota.
Touch for ST: Paul.
The st. Paul Gas Light company is also
scheduled for raise It's present assess
ment is $614,555. Last year it was fixed
at $S0O,0O0
The board will take, up the schedule of
goods. and merchandise Tomorrow and the
committee will recommend large increases
in Hennepin and Ramsey counties. Hen
nepin has returned $5,812,239, compared
with S., 191, 637 last year, and Ramsey is
valued at $5,218,391, as compared with
SIS, 001, 722. The committee believes that
these values are too low. The total for
the state Is $24,342,S59. :.
Elevators Are Boosted.
The valuation of elevators was in
creased this morning. The total for, the
state was returned at 80, 1873, 3O7, while last
year the valuation was 50, 2s0, $50. The
board passed over Hennepuin this morn
ing, not being able to understand the fall
ing off. Last year elevators in Hennepuin
Ethey were returned at only $87,310.
r.. MIR. Cole Entertaining Board. @l
! Members of the board were entertained
| this afternoon by Emerson Cole, the Min
neapolis member. They did not come
over on a special street car, but in some
| Of the autos which they had so much
difficulty in finding. The board met. at
| the capitol at l o'clock and boarded
| automobiles. This evening they will at
tend a dinner at the Minneapolis club.
VIII Visit State Prison.
! ! Warden Wolfer has invited the board
to visit the state prison Friday and take
luncheon with him, but the invitation has
not been accepted yet, The members OF
the board are in doubt about the pro-
priety of accepting a special car to make
! the trip, as they are about to pass on the
! street railway assessment.