The Kemper herald. (Scooba, Miss.) 1875-1908, 1905-09-21
VALUE OF COAST LINE.
Raised Assessment Made by Georgia
Attorney General Virtually Sus-
tained by Tax Arbitfators.

Tl0 AGlanClG coast AlHe Rdilroda
company must pay taxes on $2,o10,-
696 more than the amount at which
1t returned it's total property In Geor'
gia for taxation.
This was the conclusion reached
bv the arbitrators at meeting in At
lanta Thursday, when they made their
report to the comptroller general.
Comptroller General Wright is nat
urally very much elated over the re-
port for It sustains his assessment
almost in toto.
The Atlantic Coast Line returned
it's physical property at $S,165,342 and
it's franchises at $2,464,5T0, making a
total of $10,629,S12. The company has
about 6SS miles of railroad in Geoi
gia.
Owing to it's increased earnings and
the remarkable financial showing
made, Comptroller General Wright re-
jected this return and assessed the
roads physical property at $9,269,402,
and its franchises at s3,3Ss.1OO, max
ing total of $12,6JT592, Or an in
crease of s2.027590 over the eompa-
nys returns.
The board of arbitration made sew
eral important changes in these fig
ures without materially affecting the
general result.
The arbitrators reduced the valua'
ton of the Coast Lines physical prop
erty to $9,126,03S, which was about
S143,0 less than the comptroller
generals assessment, but what is re-
garded as more important, 1t increas-
ed the valuation of the comrany's
franchises to $3,514,57O 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 and 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 Coast Lines property in Geor.
gIa has been fixed by the board of
arbitration at S12,640,60S, an increase
of S1.010,696 over the company's re-
turns, and only $16,S94 less than the
assessment made by Comptroller Gen
eral Wright.
The arbitrators who made this
award were Railroad Commissioner
Joseph M. Brown, representing the
state; G. P. Goodyear of Brunswick,
representing the Atlantic Coast Line,
and Judge Richard Johnson of Jones
county, umpire.
Colonel Goodyear dissented from
the award. holding that the assess
ment of 1904 was the maximum valua-
tion which should be placed upon
this property. Commissioner Brown.
on the other hand, held out for an
an assessment even in excess of the
amount fixed by the comptroller gen
eral, contending that the increase
should be made on account of the
company's sworn statement before the
United States court as to the value
OF its property. On this occasion,
Third Vice President T. M. Emer-
son made affidavite that the Coast
Lines property in Georgia would cost
to replace it $17,600,750, and that this
did not include the value of the fran
chise. With this wide disagreement
between the two arbitrators, the mat.
ter was practically in the hands of
the umpire, Judge Johnson.
The assessment made by the arb;-
tration board on the Coast Lines
property amounts to a total of s1S..
a23 per mile.
Judge Johnson, who was umnire
In this case, is also the umpire in
the Southern railway arbitration.
which will come up in the course of
a few days.