Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-06-14
WILL Be No INCREASE
Iowa Railroad Assessments Will
Be Practically Same as
Last Year
ENORMOUS INCREASE THEN
But While Business This Year Has
Picked Up AS Much AS 1t Did Last
Year, Reports Show a Great De-
crease In Net Earninss-DetaiIs of
Situation.
Special to Times Republican,

Des Moines, June 14.-There is not
likely TO be any material increase IN
the assessment of the railroad prop
erty in Iowa the present year. The
state executive council last year, while
acting as an assessing board, made an
enormous increase in the assessment.
and for the first time brought the
aggregate OF the assessment up to sub
stantially the same figure as the gross
receipts from all Iowa business. The
council also made material increase
in telegraph, telephone express and
freight line assessments, the only other
forms Of property which are assessed
by a state board. But last year when
the reports were received and the
footings made 1t was found that the
business of Iowa railroads had mater
tally increased and their net earnings
had advanced with their greater bust
ness. This year a different state of
affairs is shown by the reports. While
business has enormously increased. net
earnings have decreased very much.
While assessments are not made IN
either gross receipts or net earnings,
they are always taken into considera-
ton 1t Is therefore believed that the
assessment this year will be not far
from what 1t was last year, or S56,54l,-
900, which represents one-fourth valu-
alton.
The reports from all companies but
five very small systems are now in the
hands Of state officers. Counting these
companies as doing the same business
as last year, the aggregate of gross re-
ceipts for 1903 was s5s.443.037. This Is
$1,9T6,7S2 more than in the previous
year. This is an enormous gain COM
pared with the previous year of only
100000. The net earnings of the Iowa
roads last year amounted to Sic, 02S,551,
which represents decrease of 81, 10a,-
$50 from the earnings of the previous
year. Thus, while business increased
substantially two million dollars prof
its decreased the same amount. show
ing the great increase in expenses
which the companies incurred.
The five companies not yet reported
are the Manchester e. Oneida, the Mus
catfne North & South. the Newton &
Northwestern, the Colfax Northern.
and the Tabor s. Northern, and these
companies last year did g. business of
less than $4,000. The business of
the Boone suburban is included in the
aggregate this year for the first time.
The bulk of the increase in business
this year as in the past was on the big
systems. The six roads that cross the
state entire and do some transcontinen-
49, l. = -, oe,t4 no
Burlington, the Rock Island, the Great
Western, the Milwaukee and the Illfno 9
Central. These six companies received
in 1903, s52.s74,194 on Iowa business.
an increase over the previous year OF
S1,316.77a. The same six roads report
net earnings for the year at $780, 26
or $2050.463 decrease in net earnings
as compared with previous year. These
roads therefore had a greater proper
ton OF the decrease in earnings than
they did of the increase in receipts.
Their expenses increased proportion
ately more than the others.
In the second group of roads, the
Wabash, the Minneapolis, the Iowa
Central. the Omaha. and the Great
Northern, the reports show gross re-
ceipts of s4,435.7 05, or an increase of
s67.99S. The second group also shows
n slight increase in earnings. $7S,004.
The other roads OF all kinds showed
an increase of about s5S0.000 in re-
ceipts and decrease of about $4,000
in earnings. The reports from the
five roads not yet reported will change
these figures.
The ratio between receipts, or gross
earnings. and the total assessment at
one-fourth of the valuation. for several
years. shows some things interesting
for comparison:
In 1a00--Receipts. s49,549,67a; as
sessment. s46,00S,5l0; excess of re-
ceipts over assessments. s3,541,169.
In 1901 Receipts. s52,S54,s17. as
sessments, s47.07i.25s; excess of re-
receipts s5.2ss,559.
In Receipts, s56,o7s,94S: as
sessments. s51, 3o7,s5o; excess of re-
ceipts. s4,76l.993.
In 19o3-Receipts, $50. ,3o5; assess
ments, SOCIALISM; excess of assess
ment, s75,20s.
In 1904 the receipts show s5s,443,
what will be the assessment?