Daily Kennebec journal., 1906-04-20
On Abatement Petition Of
the Lockwood Co.
Agent Abbott Gives Testimony
Regarding Values.
Assessed Values, as Compared With Cash
Values, Are Discussed.

VI tile Lockwood Company TO the Guy VA
| Watervllc for Il reduction in its taxes
levied during the year 1905. was resumed
/ Thursday morning at 10 O'Clock. w. ii.
x. Abbott was the first witness called To
| the stand. Mr.. Abbott testified that he
| had been the agent of the mill since 1901
! and had formerly been superintendent
| since 1880. He said that the No. l mill
| was built in 1915 and to this was added
| two stories In 1893. The No. mill was
| built in 1851. the No. 3 mill in 1Ssa and 20
this was built an extension in l&>S on the
west end and in 1893 another extension OH
the east end.
| Mr. Abbott testified that the schedule Of
| Mr.. Sheldon as made by the latter was
| substantially correct. He said that in
1901, 1902, 1SI3 and 1904 the company had
| lost l3lz weeks in production, due to the
| irreGuarity of the available water power.
| lie said that the products of the mill
| consist of Sheetings, ShirtingS of various
| widths, generally termed coarse mate terials,
and that the loss in production during
| these 1Jk weeks was 1F.O00 pounds. He
| testified to the length of the dam as APP
proXimately 700 feet. Mr.. Abbott agreed
| with the previous statements made con-
| cerning the economy Of new departments
| and modern equipments and said that the
desired changes could not be made on
! account of the inability to withstand the
| expense which would thus be incurred.
! but that these changes were very much
1 needed. He said that there was no new
! machinery put in except new spindes
| in the frames of Mill No. 3. He placed
as n proper valuation Of Mills Nos /, ,
"a NJ wit u nnl1 nIi,liY
| spindes, water power office buildings,
gas house. etc, $4,000. and in making
this estimate he took GO per cent of the
( true value Of the property according To
the custom Of the tax assessors. thus
; placing upon these mill properties an
/ actual valuation Of $7io.O00.
! Mr.. Brown then relieved Mr. johnson
! for a few moments. He said that he pro-
posed to ask Mr.. Abbott few questions
and proceeded to do so.
/ Mr.. Brown: ''Mr. Abbotts estimate is
! about $4,000 more than the basis of the
, assessors" Mr.. Abbott upon further
! questioning said that since 1873 he had
! been familiar with the mills, having be
gun in the business at the age of 16 wears
He said that the Lockwood Company was
| 4 corporation owned by shareholders be
ing capitalized at 81, ,SC0.OG0 in shares, ana
that he had never owned any stock II,
the MIL. although his father the late s.
!. Abbott. had 10 some extent. He said
that rule III" mill had paid its run
n!ng expenses.
And possibly q little more" said Mr.
Brown. Yes. possibly more"
An objection was then entered by Air
Johnson, who stated that such questions
Were inadmissihle, to which Mr.. Brown
replied:
II want to state to the court why
enter this matter as proper evidence. Yes
terday. against my objections for just
these reasons, the board showed Il dispo-
sitinn to throw the doors open widely for
the admission of al the light which couli
possibly be thrcwn upon the case. If what
We have been hearing may be relied upon
! everything connected with these mills is
practically out Of date and much of it
useless L want to show that this proper
ty IS earning such quantities of money
and paying such good dividends that any
such conditions which have been said to
exist in the mill for which its taxes
should be reduced, have been greatly eX-
aggeratcd.
II offer this evidence, not for the pur-
pose Of taxing any income, but to show
the true value of the mill. A mill that IS
so incapable as these witnesses have stat
Cd is not worth u dollar. A MILL on the
other hand, capable of earning as large
q dividend as per cent. is not a mill
largely made up Of scrap iron. ana that
these facts throw much light upon the
question Of what it is worth.
Here is the Rivervew milan up-to-
date ana as well equipped mill as any in
the State. You couldn't give the stock in
the mill away this morning.
Mr.. BaSSett: "'Thc Rivervicw mill is
not to be taxed on what it is making but
on what it il worth as 4 mill, materially.
We proposed to view this property in the
light which the testimony of the experts
has given us"
| Mr.. Brown. ''Ncry well. There is n
process by which we can settle these
| questions before the supreme court, and
/ il any evidence IS considered admissible
/ of course it will be sent back. If we
+ could have this admitted this morning it
! would save much litigation and unneces-
/ sary expense"
Mr.. ABBOTT continued. He testified that
I Mr.. Sherwin, another mill expert, went
Iflo nllll ldSl JdIludEN ara COM
I piled a schedule Of the properties which
did not differ materially from that dis
4 cussed Wednesday by Mr.. Sheldon. He
testified that the fall of the Lockwood
dam is about A.. feet near the shore and
I increases to about six feet rs it ap-
I proaches the shore Of Rock island. H.
said that last Monday was the first time
during this year when the mill had been
troubled with back water, which was
! due, of course. to the inability of the
mill dam to receive and dispose of the
superfuous amount. The dam was built
! in 1869 and has stood the test of time,
but few improvements having beer neces-
sary since Mr. Abbott was excused Mt
this point.
The remainder Of the day was consumed
in a discussion Of the cost values of
houses throughout the principal parts Of
the residential sections Of the city, Hor-
ace Perkins being in the witness box dur
ing the entire day.
Attorney Brown entered an objection
to tba aooor.a,ca nj Mr. Perkins ludG-