The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-03-18
FIRST COMES IN. STRUCK IN A Foe.
Kansas City Southern Makes Big Prnz
Return of Property. Wilhelm i'm Collision.
Places Value of Hold Another Rams
ings at Two Millions. in Her Side.
MAKES BIG INCREASE. ON HER WAY TO DOCK.
Last Year 1t Was Assessed She Had Cabin
Half Million. Aboard
Only Two More Days Res Nobody Injured
to Come In. of the Vessels
Kansas City Southern Makes
Return of Property.
Places Value of Kansas Hold
ings at Two Millions.
MAKES BIG INCREASE.
Last Year 1t Was Assessed on
Half Million.
Only Two More Days for Res
to Come In.

Only one railroad-the Kansas City
Southern-has thus far made to the
state tax commission its property
statement under the new law, and it
places a value of s2,000.0O0 on all its
Kansas property. Last year the road
was assessed at 100000, the year be-
fore at 100000. This road has only
Is miles of main track in Kansas and
0miles of side track.
While the Kansas City Southern
does not object to having its former
valution multiplied by four, it is not
at all likely that the state tax COM
mission will allow it to stand on that
basis. The S2,000,00O which the road
itself gives as a guide to the value of
its property is not binding on the tax
commission. The tax commission will
possibly find that the companys fig
ures can again be multiplied by two
without exceeding the real value of
the company property in Kansas.
March 20 is the limit fixed by law
for the railroad companies to make
their returns to the tax commission,
and this gives the companies only two
days more to come in with their re-
ports. The Kansas City Southern Is
the only one which is in the clear.
Some of the big companies are get
ting worried, and have applied to the
tax commission for an extension Of
time IN Wn1Cn TO get III Cnelr reports.
The tax commission has refused to
grant any extensions, so far as known,
and all the members of the commits
sion are now out of town. and will not
be back until after March 20 If the
railroads fail to get in their reports
by March 20. they do so at the risk of
a fine of $1,000. The tax commission
has authority to collect this fine from
every road which fails to get in its
report.
10
allow the tax commissioners of the
various roads to take about their own
time to getting in reports, and there
has never been any effort made to col
lect the $1,000 fine. The railroads seem
to be operating on the theory that the
same rule will be applied this year. In
this theory they may be disappointed
for the present system of assessment
and taxation is entirely different from
the old one.
There have also been hints that the
railroads may be disappointed in the at
titude of the board concerning the real
value of railroad property. The rail-
roads will probably follow in a general
way the lead of the Kansas City South
ern and report their valuation about
four times what it was last year. There
is some probability that the tax COM
mission will, by its Investigations, con-
vince itself that railroad property IS
really worth eight or ten times what
it was turned in at last year. The to-
tai value of railroad property in Kan
sas, for assessment purposes, has varied
from 60 to 80 millions during the past
few years It would create a profound
sensation in railroad circles if the tax
commission should find the real value
to be from $500, 900, 900 to a billion dol
lars And yet there is some probability
that this represents about the value OF
all railroad property in the state.
The reports which the tax commits
sion is receiving from the county as
SCISSORS show that people are complying
with the new assessment law in good
spirit The property of the state is be-
ing put down at it's full value in cash,
and there is feeling of satisfaction
among the taxpayers when they dis
cover that the law is being strictly and
impartfally enforced.
The returns are now coming in on the
telephone company valuations, and they
show a large increase all along the line.
The work of placing a value on tele-
phone companies rests with the tax
commission as does the valuation OF
railroad property.