Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-05-22
THE EDWARDS co.
Question of Its Valuation Con-
sidered by Assessors.
Officers Of Company Heard Yesterday
in Regard to Matter.
City Council Will Be Asked to Abate
Tax, as Usual.

a nearing, yesterday lOlellool, W SeN-
eral officials of the Edwards Manu-
featuring Co, concerning the Valua-
ton which has been placed upon the
property of the company. Assessors
Jones, Harrington and Dutton were
present. Mayor Robertson and City
| Solicitor Maher were also in attend
ance. The company was represented
by Robert Edwards o. II. Olford, j.
Manchester Haynes and j. H. Manley.
! Mr.. Oford is not only a stakeholder
and director of the company but he is
also d member of the firm of Bliss,
| Fabyan & Co, of New York, the SELL
| ing agents of the concern. Mr. Ed
| wards has succeeded his father, the
| late Jacob Edwards, as treasurer, and
| Messrs Haynes and Manley are two of
the original local organizers of the Ed
| wards Co.
| The hearing was wholly informal. all
the gentlemen participating in the dis
| cussion to q greater or less degree; but
| Mr.. Olford was practically in charge
of the company's interests. He stated
that the company did not anticipate
| that the city would raise the valuation
the present year, but would wait until
next year, thus carrying out the con-
tract made in 1887, that the valuation
on the company's property would be
| fixed at 100000 for ten years after
| 1898
1--WE shall feel hurt" said Mr.. Olford,
| eff the city fails to carry out the terms
of that contract. We have not consid-
cred the possibility that the city would
raise the tax this year We have felt
that this was the last year. The con-
tract reads so. does it not?"
Mr. Jones of the board said that thHre
was no prejudice on the part of any
of the assessors against the company.
They only had a desire to do what was
right as between the Edwards Com
pany and other citizens.
THE attitude of the assessors said
Mr. Jones. was that the votes of 1883
and 1887 intended to allow the company
| certain exemptions for a term of 20
years. The citizens did not intend to
grant exemption for q years, which
would be the case if the tax was not
raised the present year"
Mr.. Haynes said that the vote of 1887
was an entirely new and different
proposition from that of 1888. 1t was
a contract" said he, that if the COM
spindles and construct a mill Cor small
manufactures on the east side of the
river the valuation would be placed at
$500 900 for 10 years after 1875, dating
from the time the mill was put in
operation In 1898, the valuation was
raised $212,O00 and the company, in
stead of paying upon a valuation OF
$500, 900 since that time it has been pay
TI,
superseded the 1883 contract and was
absolutely distinct and separate from
the first contract"
Mayor Robertson remarked that the
increased valuation of 1893 was on ac-
count of large increase in the state
tax on this property, which was not
anticipated when the 1881 contract
was made
Would it be unreasonable, then
said Mr.. Haynes, ito ask that the mat
ter be put over this year, because OIL
the fact that there appears to be some
doubt as to the meaning of the IAN
cuaco of the contract, and because OF
the further fact that the company has
already paid into the city about $oo,-
900 in taxes more then they expected
to pay under the 1887 vote?
Treasurer Edwards and Mr.. Nancy
agreed with Messrs. OIford and
HAYNES that the contract did not expire
until after this year.
The assessors did not act upon me
matter. but took it under consideration.
They say, however, that the tax levy
has been made and the city couhtll
must provide an Appropriation u
cover whatever abatement may pc oe-
cided upon if any is granted. Inc APP
preparation bill for this year has been
lacted upon by the council, ana
amounts to the entire sum leVled upon
| the property of the city. III an aDate-
| men of several thousands dollars Is
voted by the council the tax rate must
necessarily be increased, unless the
amount can be taken from othef APP
preparations.
| The valuation on the Edwards cos
property which the assessors nave
made for 1903. is divided as follows:
Upon the mills, water power machln-
cry, stock, etc, 81, 164 spindles, at $lo.2o
a spindle, $995,95 real estate, $l"4'?oo
land personal estate $129,260, making
the total of $1,260,14. which has been
assessed.
1t may be interesting in this cohhec-
ton to state that in 1890 the state
valuation commission valued the
property in this city at $7,SSo,Ob2' on
which a tax of "a mills was levled,
Amounting to 81, 64779. The board OF
Estate assessors was created in 1891, ana
lsince that time the State tax which Au-
lgusta has had to pay has been very
much larger than that of 1890. In 1891
land 1892 the State tax amounted 10
$22 4431 for each year. In 1893 it was
S21 115.97 and in 1894 it was SIS, 1856.
The State tax for this year and next
amounts to $21,019S0 each year, and it
lis understood that the State assessors
value the Edwards Co.'S property at
ST. 100. 900 and the city pays the State
"a mills upon this valuation, which
amounts to $3.50.
In 1892 the Edwards Co. paid tax Of