Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-03-09
GOVERNOR FORTS MESSAGE ON RETALIATION OF RAI[ROA

rollnlent Of the floating equipment Of
the Pennsylvania Railroad Company
partly in the city Of New York and
partly in Perth Amboy, and further 10
the fact that a considerable portion. In
value, Of the equipment is not entered,
enrolled or documented IN any district.
The broad use and purpose Of the
floating equipment is not affected by
the district in which it is documented.
or whether it is documented at all. or
whether the managing owner resides
in the State of New York or in Hudson
OF Bergel counties. New Jersey.
The equipment Of the Pennsylvania
Railroad Company under consideration
is enrolled by Lewis Nelson. secretary
Of the Pennsylvania Railroad Company,
with offices in Philadelphia. 1t would
appear. therefore. tina the Pennsylvs-
MIA Railroad Company have declared
the domicile Of this equipment to be
nearest TO the district of the city OF
New York, and since this district in
cludes Hudson county and part Of
Bergen county, New Jersey, the term
Port of New York includes the vari-
Gus terminals of the Pennsylvania
Railroad Company N the Jersey shore.
where the equipment is operated from
and where it is berthed.
If the Pennsylvania Railroad Com
pany hold that the domicile of the
owner Of this equipment was at Phila-
delphia or in any part of Pennsylva-
MIA. they could not have enrolled 1t in
the district of the city of New York"
If we determine. then, that the do
micile of the equipment under con-
sideration is in New Jersey or IN part
of it, or in "the district of the city Of
New York. We suggest consideration
of the opinion of Chief Justice Beasley.
Central Railroad Company VS.. State
Board of Assessors, 40 N. J. L. Gao
Vroom) l..
Your committee does not attempt to
interpret the laws of his State in ref
erence to the assessment of floating
equipment owned by railroads operat-
ing in this State. except to determine.
il possible, the scope of our survey, so
az TO prepare our inventory and ap-
praisal in accordance with our instruc-
tions set forth in the Joint Resolution
No. 81 sin form available for use for
the purpose of taxation under existing
laws"
Your committee has proceeded with
its survey on the supposition that II
was it's duty to survey all of the float
ing equipment of the Pennsylvania
railroad operating in connection with
owned. leased or operated railways OF
that in this State. 1t Is
manifestly important therefore that we
have definite instructions to guide US
in u survey of the floating equip
ment of other railroads operating In
New Jersey waters. so that we may
direct our work to cover the Informal
ton necessary to obtain as well as to
/ avoid surveys not properly within the
| scope of work delegated to your board
If we are instructed that we are TO
survey only the floating equipment useo
entirely in interstate business. and tnat
no other floating equipment VIII pc
considered, hen We will ind our work
confined to the two dredges and a few
fat scows used in maintaining the d.
and r. canal.
After thoughtful consideration OF the
true value of the floating equipments OF
the PENNSYLVANIA railroad, We have
concluded that We must ignore the use
and occupancy value, and the bargain
and sale value, for we cannot segfegafe
this equipment from the other machin-
cry of the railroad system and con-
sider what effect the annihilation OF
such equipment would have upon the
railroad and the multifarious interests
iit serves. The traveller and shipper are
! best served by that railroad which
delivers him or his goods safely,
promptly and quickly to his destina-
| ton. Consequently he must consider
hat for the purpose of carrying pas
sengers and freight every part OF a
railroad is of equal value, since every
part is necessary to the continuity OF
service which forms an ~rnbroken line
for his conveyance from start to finish.
If ~perchance two or more f~erryboats,
tugs or other important floating equip
ment were suddenly destroyed and the
loss was sufficient to seriously cripple
the service. it is likely the railroad
would willingly pay a premium, If by
so doing the equipment could be
promptly replaced. This use n &C.
cupancy value should, we think, be con-
sidered and appraised. but should not
be considered in our determination OF
true value aside from the franchise.
We have e~ndeavored TO determine the
cost OF production for eac of the va
rious kinds end types of equipment,
and with these figures before III we
have applied a certain depreciation and
believe that the system used gives the
true value" or naked value aside from
tile franchise value. and we respectful
" submit the results of our work.
which has extended over a period of
four months.
EI A d re NSEy T.