The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-07-28
Interesting Excerpts.

~ n. 4 Z i
The following excerpts from the report
Of the commission show the revenue de-
rived from the taxation Of public service
corporate tons: ei. is
The commi ssion, on September 10, 1908,
commenced the work Of assessing the
value Of all the properties of steam rail-
roads in the State. as also o Bcanals cleo.
trio railways. telephone and telegraph
companies. steamboat and express COM
}panics, having given notice as required
by law to all companies interested; and,
at the same time, proceeded to assess
the franchise tax against the railroad
companies. Full opportunity was given
to all transportation and transmission
companies to present all evidence bearing
upon the value Of their properties, and
the commission was at work on these
assessments for a period OFFS oyer two
months. The total value of all steam
railroad property in the State, rs assessed
by the commission, was s60l ,929,ol4 -
the tax imposed under the revenue law
OF the State upon this valuation is
s212, 1885 The gross transportation re-
ceipts Of all the steam railroads in the
State amounted to s31,61s953; the fran-
chise tax al one per cent. of this
amount Of receipts is Ssl6, 1883 The total
tax derived. therefore, from the steam
railroads Of the State for; the year 1903
was s52S, 964. 10. The total State tax paid
BY the steam railroads for the year 1902
was $3.50, 4Ol.5S. The total value Of all the
electric railway property in the State
as assessed by the commission. was 49,
SIS, S34. Is the tax imposed under the
revenue law of the State upon this valua-
ton is So, 500. AZ. The gross transportation
receipts Of all electrlcsraiways in the state
amounted to sa,2os, IT'S; the franchise tax
at one per cent on this amount Of res
ceipts is SO. os1. rs. The total State tax
derived, therefore. from the ELECTRIC rail-
ways Of the State for the year 1903 IS
s44.442.2O The total State tax paid q by
electric rail ways in Virginia for the year
1872 was SIG, 6os,s4. ".
Half a Million. .
The total tax derived by the State for
the year 1903 from the steam and electric
railroads SIS ( 1918, 406s9. as against S2l6-
.ooi.ss for e year sp2 showing an In
crease for the year 1903 OF 1921. 4e i'1
The total aggregate value Of all the
properties OF telegraph, telephone steam
boat, express and sleeping car companies
operating In the State as assessed by
the commission for the year 1909, was
50, 1850, T22 90; the aggregate Of i'd valorem.4
license and income tax upon this valua-s
ton is s36,223.61. i 81. ii 5s
AS to the taxation of other corporate 1
property the Il Commission says IS
Estimating the number Of other COR
orations at four tllousand, the revenue
..o be derived from tile assessment Of the
registration fee will amount to about 500
coo, and from the assessment o { the fran
thise tax to m ore than 500 ,ooo The COM
= fa2 ~ Hmm To hn
frofh these two sources, y an additional
1cvenue of $4,000 will be derived by the
State in nineteen hundred and four. #
these figures should prove approximately
correct, and placing the franchise tax
paid by the steam and electric roads N
r,neteen hundred and three at The same
figure for nineteen hundred and foir,{th
state will derive in the year nineteen
hundred and four the following rs new
or additional revenue arising from tho
three new forms of taxation imposed un-
der the Constitutional nineteen hundred
and two, viz: From all registration
fees, the general franchise TAX and the X