The copper era., 1905-07-20

THERE can be no doubt that the edict has gone forth that the mining companies of the territory are to be raised on their assessments by the territorial board of equalization something like S4O,OOO,OO0. The newspapers generally are comment ing upon the matter, and those printed in the agricultural sections are highly mplimentary to Gov ernor Kibbey for the stand he has taken. The ERA is free to say that the property returns of the territory have been disappointingly low. It would certainly be better policy to return all property at fair valua- tion, and if this were done the tax rate could be lowered from four to one per cent. But no reasonable man, no matter in what portion of the territory he may reside, can conscientiously favor throwing the entire burden of this raise onto a few of the big mining companies. While it is true that some of them
 
 are now making big returns on their investments, it should also be re- membered that many of then strug- gled for years and years without be- ing able to make expenses. As an illustration we will take the Arizona and the Detroit Copper mining com panies, which, according to the news papers, are slated for raises amount ing to millions ot dollars. For if teen or twenty years these companies were failures, running behind mil lions of dollars, yet they had confi- dence in their properties, and they kept going until they achieved sue cess, but that is of recent date, and their net earnings up to the present time probably would not amount to more than two or three per cent. on their investments since their organ ization. The shareholders, there fore, have been losers during all these years, but Arizona has always been greatly benefited by them as they have been the distributing agents for millions of dollars, which made it possible for thousands of people to reside in the territory. And so it has been with other companies. The history of one company is practically the history of all of them. Had it not been for these big companies there would have been no farming in Arizona to speak of, for the reason that there would have been no local markets, and the tariffs of the rail- roads-which are being protected by this same board-prohibite the ship ping of farm products out of the ter ritory, or even from one point to an- other, at a distance of more than one hundred miles. The success of these big companies encouraged the investment of many millions of dollars in Arizona, which has been of great benefit to the territory. The great future of Arizona depends up- on it's mines, and mining should be fostered and encouraged. If it is the intent of the board of equaliza-
 
 tion to throw an unjust, unfair and wholly uncalled for tax upon the mining industry, it will be blow from which the territory will not soon recover. The information will go abroad that the mining companies are being imposed upon, and the re- suit will be that money seeking in vestment in mining enterprises will be diverted to Mexico, where the tax on mines is continually being low cred. Governor Kibbey and the board of equalization should give this matter very careful Considera- tion before going too far. The board has refused to assess the railroads at anything like the value placed on them in California or New Mexico Let them be as fair to the mining in- dustry as they are to the railroad, or if they raise one, then also raise the other.