Albuquerque weekly citizen. (Albuquerque, N.M.) 1891-19??, 1905-08-19
VALUE OF RAILROADS
IN UNITED STATES
Census Bureau Completes It's
Task Of Compiling
Values
NEW MEXICO RANKS 80

Washington, u. c.. Aug. 1.-THE
United states bureau Of the census
has Just published bulletin Nc n, pre-
aentlnR the results OF an extended IN.
qulry in regard 90 the commercial
value OF railway operating property
In the United states.
The commercial value Of railways op-
Grating property IN the United States,
computed by the year 1904. was eit.-
2f4.S52 900 The apportlOnment OF
this value among the various states
and territories. shows the following
for Texas New Mexico and Arizona:
Texas Commercial value OF railway
operating property. s237.7lS.000, per
cent OF total for tho United Siatea,
2.tii: rank Of state. &c. assessed
valuation, t9b. 2O9TS5; ratio Of assess.
cd commercial value, tper cent?, 400.
Arizona Commercial value. GS.356..
600: per cent OF total for United
States. 0C0S. rank OF territory, f4:I
assessed valuation, f6.es3 8fs; ratio oil
assessment 90 commercial value, 81.
New Mexico Commercial value,
SGS 100000. per cent OF total for the
United states, 0.76S; rank OF terri
tory, So assessed valuation, tS5ii,-
SIS; ratio OF assessment 90 CONNER
cial value. 90.
Pennsylvania ranks first with the
commercial value Of rs roads, placed
at 81 ago .G0s.O0O
The District OF Columbia ranks
last, with total valuation OF st.b7s,
600. but not being n state In the full
sense OF the word. Delaware takes the
back seat with a total valuation OF
xi7.2S5.OO0.
New York ranks IN second place.
with the total valuation Of 9s9s.222-
GOO exclusive Of the Jersey City fer
rieu. valued al sb.G9S.000. These are
not credited TO either New York Of
New Jersey
The above valuation does not IN.
clude the value Of Pullman cars or
private ears. Ia value. independent
% the commercial use 20 which Il Is
put Is estimated as follows:
Pullman cars Gee. 1851 600 600
Private cars ...... T2.OOO000
The total number OF Pullman cars
available for tho business Of the
company on July 81, 1894. was az
follows:
Standard cars with sleeping nc.
commodationa ................2 ,9O3
Ordinary or tourist cars, with
sleeping accommodations ..... 5t7
fnrlOr cars OBSERVATION-DISCLOSURES 4ti
Composite, dining and other cars So
Total ACKNOWLEDGEMENTS. $3.50
The value given Il the commercial
value OF the property used by railways
IN connection with the business OF
transportation. the estimate placed |
upon the worth OF the property re-.
eardod as a business proposition, I. |
G., the market value. The two chief
factors determining the market value |
OF railway property are the expects.
tion OF income arising from the use
OF the property and the strategic sig.
nincance of the property.
In computing the net earnings for
this purpose, taxes and operating eX-
penaoa, but not expenditures for lm- |
provemonts, we're deducted from gross /
earnings; and income oi railway cor.
pOrations from Investments IN prop.
erly not used In the business OF trans.
poFtRtlon was excluded, as was also /
the income which accrues To a cor.
p0rati0n from Investment In the cor
pOrate securities OF other railways.
The value submitted was determ-
ined. not with a view to discovering |
n proper purchase price for the rail. |
ways OF the United States. nor as a |
basis Tor taxing these railway proper
ties. but az one step, In asceriaining |
for the census bureau the total wealth |
Of the United States.
Whether or not the value, (sii,2ff,-
b2,00Ol. above submitted, represents |
the value upon which the railways OF
the United states M INT properly be
taxed, depends upon whether the
state undertakes 10 tax the roads az /
their full commercial value. including |
the value OF both tangible and lntan.
gible property. or whether Il seeks /
10 conilne its taxation 10 the value OF
the tangible property alone. In the
former case, the value submitted IA be.
lieyed 60 he substantially correct. so
far a. concerns the operating proper
ties OF the railways, In the latter case.
II is too high.
The results OF the investigation re-
ported in this bulletin have been care.
fully tested. and Il Is believed that the
methods employed conform closely 20 /
those followed Ia the business world 1