The weekly true Democrat. (Tallahassee, Fla.) 1905-1912, 1905-09-22
TAX VALUE OF COAST LINE
Fixed by ArbitraiorS IN Property In
Georgia -COmptrtl.er's kSseSS-
msnt Virtually Upheld.

company, must pay taxes on $2,OlO.-
COG more than the amount at which
It returned it's total property in Geor-
gia fer taxation.
This was the conclusion reached
b. the arbitrators at a meeting in At
lanta Thursday, when they made their
report to the comptroller general.
Comptroller General Wright is nat.
ura,ly very much elated over the re.
port for It sustains his assessment
almost in toto
The Atlantic Coast Line returned
its physical property at $s.165,342 AMI
its franchises at s2,464,57O, making a
total Of Sl0,G29,sl2. The company has
about 63S miles Of railroad in Geo,
gia.
Owing to it's increased earnings AID
the remarkable financial showing
made, Comptroller General Wright re.
jccted tlis return ana assessed the
roads physical property at $92G9,4o2,
end its franchises at $3.3SS,100, max.
ing a total OF $12.G57,502, or an IN.
crease of S2,O27,590 over the compa-
rys returns.
The board of arbitration made sew.
eTal important changes in these fig
uTes without materially affecting the
general result
The arbitrators reduced the valua.
ton Of the Coast Lines physical prop.
erty to s9126,O3S, which was about
$4,000 less than the comptroller
generals assessment, but what Is re-
garded as more important, it increas-
ed the valuation Of the conpany's
franchises to s3,514 $40, or nearly
$4,000 more than the assessment
made by Comptroller General
Wright. AS the valuation OF fran.
chises is regarded just now about
the most important feature OF corpo-
ration returns AMI assessments it IS
believed this action Of the arbitration
board Will have no small weight.
AS will be seen from the foregoing
figures the total valuation of the At.
lantic Coas! Lines property in Gcor.
gia has been fixed by the board Of
arbitration at s12.G4O COS, an increase
Of $1,O1O,Gs6 over the companys re.
turns, and only stG,S94 less than the
assessment made by Comptroller Gen.
eral Wrigat.
Tho arbitrators who made this
award were Railroad Commissioner
Joseph NJ. Brown. representing the
state; c. T. Goodyear q Brunswick,
representing the Atlantic Coast Line,
and Judge Richard johnson OF Jones
county, umpire.
Colonel Goodyear dissented from
the award holding that tie assess.
ment Of 1904 was the maximum valua.
ton which should be placed upon
tits property. Commissioner Brown,
on the other hand, held out for an
an assessment even in excess OF tho
amount fixed by the comptroller gen.
eral, cont"nding that the increase
HHOuIu Oe maze on account OF the
sworn statement before the
United States court as to the valuc
Of It's property. On this occas,on,
Third Vice President T. NJ. Emcr
son male afldavite that the Coast
Lines property in Georgia would cos:
to replace It Sl7GOO,7jO, and that tbs
cid not include the value OF the fran
chise. With this wide disagreement
between the two arbltrators, the mat.
ter was practically in the hands Of
the umpire. Judge Johnson.
The assessment made by the arbL /
tration board on the Coast Lines
property amounts 10 a total OF SIS. /
1913 per mile.
Judge Johnson, Woo was umpi-c
In this case. Is also the umpire in
the Southern railway arbitration, |
which will come up In the course OF
4 few days.