Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-03

Washington gaslight companies to Sc
cure an increase In their capitalization led
the Commissioners to direct the CORPORA
ton counsel to make thorough inquiry
into the operations of these companies.
and while in the case of the Georgetown
Gas Light Company the report OF the
auditor appointed by the court has been
favorable to the increase. In capitalization,
the Commissioners believe that their eff
forts have resulted in elicting much In
formation which will be of value to Con-
gress should the question of the price or
gas become subject of congressional IN
quiry. The disclosures in regard to the
assets of the Georgetown Gas Light COM
pany led the board of assistant assessors
to report that the service pipes and me-
tiers of the two local gaSlight companies
had been. in their judgment. erroneously
exempted from taxation and. in accord
ance with the provision of an act OF Con-
gress approved August IA. 1894. they as
sessed said pipes and meters against ths
two companies for the years 1.D0 and
1907 and noted them for assessment dur
ing 1908. The assessments for the three
years 1905, 1907 and 1908. amounting IN
the aggregate to So 26s. 1SS, or total tax
of Si9u2o ~ have been placed upon the
ledgers. The assessment may become
matter of litigation between the DlStrict
of Columbia and the gas companies
The personal tax law. approved July 1.
1902 which provides for the taxation OF
public utility corporations and nnanciai
institutions provides for TAX OF per
centum upon the gross receipts OF the
street railway corporations, D per centum
per annum on the gross earnings OF the
gas companies. per centum per annuin
on the gross earnings of electric nsntnS
companies per centum per annum on
the gross earnings of the telephone COM
panies. and ~ per centum per annum
on the value of vessels, ships and boats
owned by steamboat companies. ana o
per centum per annum on the gross earn
= hop
panes 1t is suggested to Congress that
more equitable arrangement of these taxes
might be made. 1t has already been
shown that the tax upon the gross re-
ceipts of the street railway interpretations
might we'll be increased from 4 to 8 per
centum. and it is quite possible that a
similar increase could be imposed With
out detriment upon other pubic utlnty
corporations. On the other hand. reduc-
ton of taxation on national banks and
trust companies would seem TO be equi-
table The national banks hold no fran
chise for the use of the streets. nor do
they possess the monopoly which is en-
joyed by public utility corporations. One
of the main features of trust companies
is the loaning of money upon real estate
mortgages, and upon the earnings from
this source they are. under existing law,
taxed 6 per centum. On profits from the
same class of business Incorporated saw
ings banks pay per centum, while Ju!ld-
ing associations engaging In similar lines
of profit pay per centum. These various
rates Cor practically the same class of
business are Inconsistent. The Commits
sioners have already submitted to Con-
gress a bill for the reduction Of taxes on
national banks from 6 to per centum on
their gross earnings and The tax on trust
companies from to per centum on
their gross earnings. and this measure
will again be presented.
Collection Of Taxes.
TIE aggregate receipts of the govern
.lsnt of the District of Columbia through
tne collector of taxes during the year
ended June 30. 1907. were as follows: