Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1909-03-17

valuation. My opinion is that while
gas plant is In some respects diner
ent from a railroad, that a railroad
property, properly built. and properly
managed, should over and above ex-
penses make return of six per cent
per annum. And considering all the
evidence, the evidence fairly shows
that all of these roads were properly
and economically built and are being
properly and economically managed,
and that after paying the expenses for
maintenance and operation, that there
is less than six per cent of returns,
and not more than three per cent, up
on any of them and as to some OF
them a deficit, taking the property as
above stated within the state of Miss
ouri at its fair valuation. And this is
so without reference. to bonds, be-
cause in no case do these bonds bear
six per cent interest. But taking the
bonds into consideration, there is still
not to exceed three per cent returns,
and many cases deficit after consid-
ering all debts and credits upon the
true valuation for the state business.
There is no evidence that any of the
existing bonds were improperly issued
either as to amounts or rates of inter-
est. In fixing the value the court
has considered the evidence of wit
nesses as to the stocks and bonds out
standing, and the state board for tax
ing purposes has valued these proper
ties. Vi course those findings are
not binding nor conclusive, but they
are persuasive. Both independently
of stocks and bonds, and independent
ly of what the state board has valued
these properties for taxing purposes,
the evidence shows the valuations to
be as recited in the findings of fact
herewith filed, and to which reference
will be made in the DEGREES.
''It is absolutely necessary that
many trains both passenger and
freight do both local and interstate
business. Even the first trains STOP
ping at but few stations in the state
carry state passengers between such
stations. And the same is true as to
freight trains carrying freight both in
carload and less than carload lots.
"The passenger earnings under the
two cent fare law of 1907, allowing
nothing for extra cost over interstate
business, give no return whatever to
the Rock Island, ST. Louis & Hanni-
ball. Kansas City, Clinton & Spring
field, and the Great Western. The
other companies will have the fol
lowing: The st. Louis & San Fran
cisco between three and four per
cent; the Santa Fee between four and
five per cent; the Kansas City South
ern small fraction over two per cent;
the NJ. K. & T. between two and three
per cent; the Burlington between
three and four per cent. But all this
is arrived at by allowing no extra
cost of service. But to add the extra
cost for freight and passenger, there
are no earnings over expenses. This
is confiscation under the constitution.
st being legislative act, and not a
judicial one, this court cannot fix
rates. If it could, two and one-half
cent passenger rates would be fixed
for the stronger roads, and three for
the others But this is for the legis-
lature acting itself with experts, such
as the state employed in these cases,
or through commission with like as
sistance.''
Not Vet Ended.
Jefferson City, Mo-, March 9.-Fol-
lowing the adverse decision to the
state in the federal court at Kansas
City yesterday speaker Speer, of the
Missouri house Introduced a bill pro-
hibiting the issuing of passes by rail
roads under penalties of fines of $40
to $100. Officers, employees and char
ity workers are excepted from the
BILL 1t is expected that much adverse
railroad legislation will be started.
Representative Cross introduced bill
requiring all railroads doing business
in the state to incorporate in Mis-
souri,. This will give the state con-
troll of the railroads