Omaha daily bee., 1905-05-05
TAXING RAILROAD LEASES
State Board Looks After Lines Using the
Omaha Terminals
FIGURING on VALUATION or OTHER LINES
Indications that Last Years Assess
meBt on Omaha Bridge and Ter
minaI Compaav's Property
VIII BE Doubled.


prom a STAFF CUrrespondentD
LINCOLN. May 4-tSpecial The State
Board Of Equalization Indicated today that
"a favors the assessment Of the leases Of
the Illinois Central Milwaukee. wabash
and other lines which use the terminals at
O1ns Ia Auditor Searle raised the question.
asking whether they had been asses ssed
last year. He was informed that last year
the board failed TO take action. Governor
Mickey stated he believed the leases could
be taxed While nothing definite was done
the board took action 10 secure data from
which 10 compute the value q the leases
II is suggested that the railways which
own the lines be required TO furnish sworn
statements indicating Just what Is paid
for the use OF the terminals Another
plan that was discussed pas the use OF
starstics Of the number md value Of cars
used over the leased lines.
The members Of the board devoted much
Of their time 10 the consideration Of the
stocks and bonds Of the Chicago. St Paul
Minneapolis & Omaha and the Northwest
ern railways. This action Is ID marked
contrast with the procedure OF a year ago.
when much Of the session was spent IN
discussing tangible property. and members
devoted weary hours counting ties and
measuring rails Then the stock and bond
theory was kept in the background, but
now il is Acknowledged TO be prime fac
tor. subject 10 the net earnings cheek The
data afforded by current market quotations
were used
A computation Of the total value Of the
stocks and bonds Of the Northwestern was
made by Auditor Ssarle and State Treas
urer Mor1ensen. working IN conjunction,
and the result gave an average value for
the system Of S45 900. The assessment last
year was s. 500 representing a market
value Of S2s-5r0 The tax commissioners Of
the road today fled with the board state
ment in which the claim is made that the
net earnings Of the Nebraska mileage have
never exceeded s. Sos per mile year. Cap
italizing this on a per cent basis, the con-
clusion is reached that the Nebraska mile
age is worth only S56G9o a mile Much
stress - laid on the character OF the prop
erty in Iowa and other states and attention
is called 10 the double tracking and the
valuable terminals at Chicago, all Of which
are out Of the state The claim is M de
that the Nebraska portion OF 1855 miles,
together with the bra-z.hes running into
Wyoming and South Dakota constitute a
feeder. not TO be assessed on a par with the
main line. Stress is also placed on the
fact that il does not carry any transcon-
tinentsl traffic
/ While the statement was being discussed
1 Governor Mickey and Treasurer Mortensen
I suggested that the other states had lot Of
1 Mort 7hwestern branch lines, ane that fact
4 would have 10 be considered. The latter
also stated that the Nebraska earnings did
not indicate the fun value Of q feeder line
TO the system.
,DoabIe Terminal Valuation.
/ 1t is pretty definitely assured thai an ef-
4 fort will be made 10 double the $4,000 as
! sessment Of the Omaha Bridge and Termi-
nal company returned a year ago. The
members OF the board are convinced that
J the corporation Is worth more than S509 No
/ and point to the fact thst il is earning con-
Z siderable money as evidence Of that fact
4 The board will continue it's considers ton
/ Of the stock and bond values Of the vari-
Gus lines subject 10 taxation in this state,
While no formal findings are made, these
computations will serve 70 show the mem
bers Of the board the approximate value
OF the mileage on the unit theory. II the
representatives Of the Burlington and Union
Pacific can adduce any facts TO disprovt
/ the figures prepared by the board they vii
be permitted 10 90 so when the time comes
| for a hearing.
state HODse Romance.
| The announcement today OF the marriage
Of Miss Fannie Steinmetz and William Nc
Shane last October caused considerabl sur
prise since the BRIDE, who has been chic
clerk in the irrigation bureau, resigned he
position only few days ago. Ever sine
the organization Of the bureau she has hell
the position and came to>be known as al
authority on irrigation law as It affects Ne
braska. The marriage took place al 81
Louis during the exposition, where the brid
spent her vacation. Mcshaue who was form
erly in business in this city. has resided ii
Kansas City, where the pair win hereafte
live
To Meet Tomorrow 10 Name Principal
The State Board Of Education will NEE
tomorrow for the purpose Of trying 10 nam
| a principal for the new Western Norma
school al Kearney. There is some sent
: ment In favor Of compromise If Gregg an
Majors viii consent 10 withdraw A c
Thomas. Today the name Of State Super
intendsnt McBren is being mentioned j
/ connection with the compromise talk In
/ salary he receives now is t.010 while ths
10 be paid the principal viii be $500 Nc
BIlsn Is diplomatic and has avoided mak
ing enemies Of the Majors members. de
] spite his championship Of Fowler. II
/ claimed now that any compromise cand
date agreed upon tomorrow viii have 10 b
a NehTaskan. Notwithstanding LDdden
hopeful letter yesterday, il Is not believe
Z that he can reach the city in time to TAX
! part in the election, should the dea6loc
be broken by compromise.
wind Raises Havoc with Prison.
During the night the heavy wind tore
section Of the roof from the east cellhous
! at the penitsntiary. and carried the ston
I coping from some Of the bsttlements. I'll
= iron and wood OF the roof were whippe
! Of with a tremendous noise, which bad
! frightened the few prisoners confined
5 that building, but none was injured Near
al Of the conviets are kept in the west Gel
house, where the new steel cages wei
! erected.
south Omaha Woman Elected.
Al an adjourned meeting for the electiO
, ! Of officers, the Order Of the Eastern 81,
Z named Mrs Hall Of South Omaha gran
conductress. and Mrs Appleton Of Rusl
7, I vile assistant grand conductress- A col
siderable number Of minor sppoiutive of
/ ces remain 10 be filed