The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-02-18
BABC0CK WINS
IN IOWA COUNTY
PROSPECTS OF HIS RENOMINA
TION BELIEVED TO BE GOOD.
Caucuses in Grant and Sank ON Sat-
urday Night Likely to Decide the
Contest-If the Administration
Loses 1t May Be a Turning Point
in the Brilliant Career of Governor
La Toilette.
Special to The Journal.

Special to The Journal
Madison Wis, Feb 1S-The success of
the Babcock forces In carrying the eau
cuses in Iowa county has given them new
Zest and they are now Straln1ng every
nerve to carry the Sank and Grant county
caucuses on Saturday. Iowa is one Of the
seven counties in the third district, where
the state administration has been exert
ing every effort to prevent the renom1na-
ton of Congressman J. w. Babcock be-
cause he is not actively in sympathy with
it's proposed political reforms.
While his victory in Iowa county does
not absolutely insure his denomination, 1t
is generally believed that the congressman
will win out. The caucuses in Grant and
Sank counties will probably decide the
contest. If Governor La Toilette fails in
his attempt to retire Babcock from public
life it may, it is believed in many quar-
ters mean the turning point in his own
brilliantly successful political career.
State Settles With SUPERIOR
consin have reached settlement with the
city of Superior regarding the $3.50, 900
worth of bonds of the city which the state
holds and which the supreme court held
void. The city has agreed to issue to the
state $4,000 worth of bonds in exchange
for the invalid ones. The sum in excess
of $3.50 900 is for interest which the city
y
Some time ago the city offered to set
tie on a basis of Is cents on the dollar, but
the state commission refused to entertain
such a proposition and held out for the
full amount, finally being successful. The
city settled a portion of its bonded debt
of $780, 900 at from rs to IS per cent on
the dollar The last legislature passed a
special law to enable Superior to refund
| its bonded debt, thus enabling it to cure
| some irregularities in outstanding issues
| The state commission had decided tt
bring suit against the city for the amount
OF the loan, without regard to the invalid
bonds, but if it had it might have beer
unable to collect any interest, and conse
/ quently it feels gratified at the favorable
| settlement reached. The loan was made
| to the city about twelve years ago during
the Peck administration. The new bonds
are to be taken up in ten, fifteen an(
| twenty-year periods.
Getting at Railroad Valuations.
W. w. Baldwin of the Chicago, Burling
| ton & Quincy Railway company, appeared
before the state tax commission and sub
| mitted estimates of the value of the com
pany's physical property in this state. I'm
der new law railroad property is here
| after to be taxed on an ad valOrem basi
| instead Of under a license fee system. Tn
state tax commission is trying to ascer
tain the actual value of railroad propert
Ill the Sldlc lOI LIlc PURPOSE VI dSScSSlllS IL
Mr. Baldwin said that the value of tn
physical property of his road in the stat
was $7,536,4S1. He argued that the fran
| chise of the company should not be as
sessed at more than the actual expense Q
procuring it. That, he claimed was tn
actual value of it. He said that Sigh
addition to the value of the physical prop
erty might be made for what is known a
it's intangible value, accruing from tn
good will of it's patrons and it's good man
agement. The intangible value of tn
property, however, was comparativel
small, he said.
The Great Northern and the Norther
Pacific companies have notified the com
mission that they do not care to be heart
saying they relied on the commission t
make a fair. and reasonable assessment {
their properties. The preliminary assess
. ments will probably be made in a fe'
weeks.
Robert La Toilette, Jr., 9-year- old so
of Governor La Toilette. is seriously !
with an abcess in one of his ears and ar
other on his leg.