Omaha daily bee., 1908-05-23

aversg &c Of S4s 44O a mile, but M. Follegs
gave & computation showing how il mignt
be $4,000 q mile. Secretary Christopher
schavland Of Madison, recently elected,
met with the board today At noon, after
having listened 10 M PoneyE for two
morning
M Polleys said IN part:
Roads Not overvaIued.
II il is the purpose Of this board this
I year TO assess railroads al 100 per cent
I Of their present actual value. and u
estate al its fan present value then
but not otherwise. viii probably be
justified in increasing the railroad as
the state Of about S46.ODo per mile, which
would produce an aggregate Of q little
/ more than S2gl 900 900 against an RgEre-
gate last wear Of S9d5. .00d.038 II the board
shall place this year an average actual
value Of more than S46.e00 per mile upon the
railroads Of the state. 1t viii in my Judg-
ment, he vAluing them al more than 100
per cent Of their fair present value
The determination Of the system true
value per mile Of the operating property Of
any railroad company owning and operat-
ing lines in Nebraska and IN other states
y necessary prerequisite 10 the actual
anc equitable determination by this board
or by anyone else Of the true value per
mile Of the operating property Of any
company within the state Of Nebraska
wish, very briefly, 10 lay before the
boare certain calculations, made upon sew
lem value, total and per mile, Of the oper-
sting property q the c. St. P. M. q Q. Ry.
After giving the valuation Of his road by
the various processes on stock and bonds
cases, capitalized net earnings, physical
property basis, commercial value on com
pound gross and net earnings, Mr.. Poneys
sad:
Thus we have worked out four dfTsrena
system valuations per mile for 1905: Stock
and bond basis s42k42 per mile; capitalizs-
LION OF mel earnings basis, S40,sl1 per mile
physical property basis, SsS,656 per mile and
} commercial value on combined gross and
net earnings basis 81 $50 per mile. The
= composite system value per mile, being the
D average Of the four separate values just
; stated is S42,744, which would produce q
total system value Of S7b 657S72- This COM
posite system value Per mile ts4s.144 eX-
: ceeds by less than per cent the assessed
? actual value pei mile fixed by this boaro
for the last four years for our Nebrasks
lines, namely, t42.500
2 But instead OF adopting the composite
system valDe per mile Just stated GsS,7
argument only the highest one Of the foui
separate values above stated namely, 1hs
3 commercial value Of $3.50 per mile.
We have seen that the highest amOuu'
per mile, as computed by the use Of tn,
2 four different plans. al which the system
value Of the ChicaEu. St Paul Minneapoli
! d Omaha in 1908 can be placed is 7.560 pei
mile. That being 50, At what amounu pei
mile should our Nebraska lines in fairness
B be valued?
/ Census Figures.
- The census authorities in 1904, as ] tx
platEed IN my argument Of year ago
RppoTtlOned system values TO the severE
states crossed by such systems on the basil
/ Of the gross earnings made within the sew
ersl states. Reference 10 The gross earn
2 inEs table on the accompanying slauistica
sheet Will disclose, that during The tel
D wears lsst past the gross earning power @.
P our Nebraska lines has ranged between
20 / minimum Of 80 81 per ceLt and & maxim IN
OF S0.H per cent Of our sysle mgrJss earn
2 ingE per mile. For the entire Ten years IN
average gross earning power per mile O
( I the Nebraska lines was l0b per cent o
q I The sy stem gross earnings per mile, ana 70
E the last five wears Il was i47S per cent il
e then, crossing earning power would b
2 taken as the sole basis Of spporroning sys
e / lem values, our Nebraska lines should b
: valued a. not more than 1s-7e Der cent %
l. our system commercial value OF 81, ,56O pc
e mile. or al SIS "a per mile.
in 1876 the average commercial value pc
u.-. Of all railroads in Nebraska as com
by the com DIned gross ana net earn
process, was $42,I7b or 54.@ per cen
.e average value Of al railroads Of III
oslulry Of that year. S5s,9b per mile Tn
average actual value fixed by the board i
2 thai year for an railroads in Nehrask
IT. 1897 The average commercial value pc
mile for all railroads in Nebraska was 50
- -. which bore d ratio Of 80 pei Ger
railroads Of the country 81, 800 Ihe actul
% value assigned by tins board 10 The RAJ
.
= practically Identical with The commercif
= value as computed by lhe process refeTre
to.
= cial value per mile 81 all railroads In N
\, . country is S69 S45, against S4b.se4 per mi
: for the railroads Of the stale OF Nebrbski
= The latter amount bearing 3 ratio Of 20
Il uer cenI 10 the former. Ihe average Eros
= F earnings Der mile Of al The rHllrosus
y Ihs country for The five years endlng uI
\, 80 1877. Sere SloW1, whereas Tor Al ~
. railroads Of Nebraska az whole The
- vsere about 8 20 per mile, OF only t-as p'
cent q The average for the country
!, Railway CommissiOn RuIinE.
r. The Railway commission this aftei noe
rs gave the Douglas County Telephone con
I pany permission 10 lower rates al Va
c ley. Waterloo snd E-khorn. proviuiI
re charges are pEid six months in advance.
,e All the railroads in Nebraska Joins
he In asking permission 10 change rates 4
excess baggage. The commission grants
ne the request 20 reduce the charge fro
= Is 10 1853 cents per hundred pound
zif with q minimum charge Of IS cents ,
hundred and a minimum charge for a.
So shipment Of % cents
'i The Union Pacific Railroad UompEi
2 was allowed 10 refund overcharges 10
T. 3 Hoard Of Central CITY for hEulil
y corn The same road was given leave
IS make corrections in It's new rates for "a
n ssnEers on account Of me Lane Cute
- n Nebraska.
--- Pine Suburban Home
Another handsome suburban rsslden
III VII. be erected southeast Of Lincoln
o7 J E Hourz, formerly uf Fnis city nov
- Omaha on ten acres Of ground winch
II mas purchased from ths old Lyons ira
. The price paid FOR the land and buldin
z nov upon il was 5000. A house custu
tb from $4,000 10 S15,ooo VIII be built
~ Ar HoutE. ana Es soon as ~ is cJmplet
- be viii take up his abooe there. i
"a daughter. Mrs Rankin, and her husuz
1r- viii come from Omaha 10 live Win hl
- The ground is quEdrangulEr ia shai
q wing between Fortieth street ana Norm
rs boulevard q short distance north