The Owosso times. (Owosso, Mich.) 1897-1926, 1910-10-21

Cent of Their Actual Value, Yet He.
mans Raves over Upper Peninsula
Mine Taxation Question.
Is Mr.. Lawton T. Hemans, the Dem.
ocratic candidate for governor, inter
| ested to the slightest extent in the
| question as to whether or not the cor
porations of Michigan shall pay their
share Of taxes, or is he playing the
part of political demagogue?
Thus far in his discussion of the tax
subject, Mr.. Hemans has referred only
to the upper peninsula property. He
evidently has it in mind that these
properties represent a very limited
territory and a comparatively small
number of people and that an attack
In that direction will yield very large
prejudice and the sectional division he
hopes to create.
But as a matter of truth and fair
ness, is Mr. Hemans at all interested
In the question of equal taxation In
Michigan? Is he even interested in
the matter of having all the corpora
lions of Michigan pay their fair share
of taxation? Let us see as to that
In Ingham county, where Mr.. He
mans lives and which he has represent.
ed in the state legislature, there are &c
corporations. The aggregate amount
OF the real and personal property of
these corporations subject to assess
ment, as represented to the secretary
of state, in sworn statements. amounts
to $7,64S,4S2.
Yet these Ingham county corpora
lions are paying taxes on a valuation
of only $1,495.575, less than 20 per
cent of their actual value, as shown
by the sworn statements filed with
the state by the corporations them.
selves.
When Mr.. Hemans says that the
mining companies of the upper PENN.
sula are not assessed to exceed 20 per
cent Of their actual value, he should
also include the further statement
that the corporations of Ingham coun-
ty are assessed at less than 20 per
cent of their actual value and on less
than IL per cent Of their value based
on the amount of capital stock sub
scribed.
1t is known to be true, however,
that Mr.. Heman's comparisons are not
based on the value of mining prop
critics as shown by sworn statements,
but largely on the market value Of
their stock. If he will apply this same
market value test to the corporations
of Ingham county he will find that the
percentage of assessed valuation to
market value will not exceed 10 per
cent.
The market value of the REQ Motor
Car company, for instance, is over &c.
100000. Just recently it was an
nounced through the newspapers that
negotiations were under way for the
purchase Of the REQ company by the
General Motors company and that the
price asked was $7,000,O0O. This COM
pany is on the assessment rolls of
lngham county for only 1891, 800. Based
on its market value it should be on
the assessment rolls for $6,00O,00O.
When Mr.. Hemans is discussing the
question of dividends paid by the
mining properties he should also men
ton the fact that the REQ Motor Car
company has returned in dividends
since it's organization, less than ten
years, $40 for every dollar of the
original investment.
While these facts must be known
Mr.. Hemans, unless he has given his
attention to the subject of taxation
for political purposes only, he has
made no reference to 1t as a citizen,
and not the slightest effort to bring
about any of the conditions of fair
ness or equality in the sharing of tax
burdens to which he is giving so much |
of his talk as political speechmaker
The purpose here is not to single |
out the corporations of one county or |
OF single section for discussion and |
criticism as Mr.. Hemans has thought |
best to do, but to make 1t very plain |
to the people of Michigan that the |
Democratic candidate for governor is |
either not possessed of the informa- |
ton which enables him to fairly and |
fully present this question or he pur-
posely avoids fairness and truth in |
order to assist his personal and party