The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-02-26

opinion. DC taking a step backward to
overturn the provision of the Con-
stltutional Convention, and would be
the worst mistake the people could
possibly make. The Republicans in
their platform last summer declared
for election of these officers by the
| people The Democrats took up the
gage and went to victory by 35,0Uo
| majority on the declarations of it's
| candidates.
| Reverting to the achievements Of
the commission. Judge Williams said
that questions of railroad taxation
| were formerly determined to some es-
| tent by tho railroads themselves in
politics. Under the old regime rail-
| ways paid a smaller proportion of
| taxes than any other kind of proper
| ~. Now, by virtue of the work of the
| commission, they are assessed at Il
| higher rate than any other class OF
| property.
What has been the RESULT" he said.
| When this commission was organized
| in 1909 we find the assessed values
of railroad property in Virginia was
Ss0,S10,31TS9; whereas in 1909 1t
| reached the enormous sum OF Sloo,324,-
| oots DUI some VIII say tiidh s.AN v -
| ginian Railway was built and entered
| into this large increase. answer
this by saying that in 1909 this road.
| having Just been built. was assessed
at only s5.032,716, leaving a total IN
crease during the life Of this commits
sion in railroad property alone of S3i.-
| 4Sf,553.11.
AIR. Stuurt's Report.
| IN April, 1907. Henry C. Stuart.
I ~, c,I tn, la .--it IA
| ton of the passenger rate question,
said: The law as laid down by the
courts requires the asccrtainment of
! some value of the property as basis
| upon which, as a matter of constitu
tional right, the company is entitled
| TO earn a fair return: in any event. at
| east SO far as that can be done with
reasonable rates The law must con-
template then that there is some prac-
ticable method by which this value
can be ascertained. and this commits
| sion knows of no better or more re-
| liable method than to give due and
| proper consideration and weight TO the
following matters among others:
First. The original cost of the
| property SO far as it is shown.
Second. The amount of the capital
and bonded debt of the company APP
| plicable to the property in this State,
Third. The market value of such
stock aud bonds.
Fourth. Tho cost of reproducing
! the property anew SO far as it is
shown.
"Eifth. The cost of reproducing
the property in its present condition
so far as it is shown.
sixth. Tho properly assessed
| taxation.
Seventh. The personal knowledge
Of the property by the commission.
BY this process the commission
has arrived at the conclusion that the
entire Virginia property of no raflroad
company assessed by it is really worth
more than $4,000 per mile for the
! entire mileage in this State. while the
| property of most of such companies is
worth less. The Southern Railway
Company's entire property. composed
as 1t is largely of branch lines of
| cheap construction and not well main
| tanned. on which is operated light and
rather cheap class of equipment, is IN
the opinion of the commission, worth
greatly less on its entire mileage in
this State -
This shows the value OF railroad
/ property.
Assessment Rate.
Now, what of the assessment, Aside
IRON the question OF the franchise
tax, the actual assessments OF tha
principal railroads in Virginia TO-DAY
are as follows:
49,. Per Mile
20. o5o
Carolina, clinchheld & Ohio $500
NY . -. 1855;
~ oliio Railway. 2S,351
totk Ky 1870. .-........... 3s,41t
. soiioiN y Nes.erh Ry........ o4,45c
ro'ol'la0 iaiiIoad. .....s......... 22,00t
Seaboard Air Line Ry % ga,
southern Railway. IN 20,
} Nirginian Railway. 1sos,
: Virginian Terminal Railway .1sG az
! (Washinston Southern Railway 4s.391
And II we are to apply this proposi
$ ton further, and figure on the aetna
! taxes collected from railroads in vir
GINA, as compared to other Soutber,
States. we find that Virginia collect,
1884 per mile North Carolina st7s nor
mile. South Carolina s167 ner ,,i,o
Georgia Sl5s per mile, Alabam, $40,
per mile. Florida $40 per mile, Yves
Virginia Se1t per mile, and Loutsian;
s14l per mile. These figures are take,
from a statement compiled nv 1,,dr
4 Prontis in discussing the physical, tay
alton question in October, 1907 rro,,
which We see that as soon as We 60
this great Corporation Commissio,
away from the aroma of politics. and or
a business basis. the State of yirrin,.
has almost doubled its assessmen
against railroad corporations thereby
almost doubling its tax receipts, /,
say nothing of the 100000 we ar,
now collecting from the one item o
franchise tax
"But / could go even further an,
say to YOU that this Corporation Com
mission has not only done this wonder
full work in regard to railroads. INT il
has exercised not merely a supervisor,
smaller corporations of VirrIni,
Mineral Taxation,
I For instance, take the minera
lands of this state, ninety per cent
!. of which are now held by large an,
small corporations. This Commission
, increased the assessed values on mi
| one class of property fron, 60 noo nn