Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-06-29
WATYLES BEFORE THE BOARD
Gives Reasons for Not Raising Tax As
sessment Of Street Railway.
zrMMAE AND wATTLEs MIX IT
Hot words Between President of the
Company and Men who Appear
Against ths street rail
way Company.

@. W: Wattles, 9r-aident OF the street
railway company. was before the Board OF
Equalization Wednesday to show cause
why the assessment OF the company should
not he raised from original return OF $500
900 10 100000. For over en- hour the at
fairs Of the company we're discussed pro
and con. The board withheld It's decision
until after the other franchise corporations
which IRE cited to appear Thursday. have
been examined.
Az times the discussion waxed very hot.
Mr.. watties objectlng throughout to the
action OF the board as an unfair attempt
to single out the street railway company
as target
wnttiea on Zimman and Ure.
when Harry. Zimman and w. @. IRE
were asked TO tell the board what they
knew about the affairs Of the company, at
The suggestion Of John c. Lynch the air
fairly sizzled with the caustic shots in
duged IN by the railway president at their
expense ~.
''zifnrnan doesn't pay one dollar in taxes"
he said, ''and he is simply boosting his
own little political game. I suppose, OF
course, that he will be around here in full
force. as a citizen. when the light company
is up for a hearing tomorrow"
zimmar and IRE were allowed TO speak
upon the condition that they would cite
facts only and not indulge in generalties.
A. G.. Elck. deputy county attorney.
conducted the examination for the board
When asked to name the value he placed
upon. sthe franchise Mr.. Wattles replied
that. although ho had put It at $1,000 0OO
he didn't consider the true market value
OF It worth 81, In explanation he COM
planned Of recent laws and decisions that
made It possible for city councils TO regu-
late the. amount Of the fare and to levy
occupation taxes. He said that the occu-
patton tax Of 5 per cent last year cost the
company. 5000.
Value OF the stock.
The county attorney produced q news
paper in which tie company's stock was
quoted at 49, but Mr.. wattles laughed at it.
That lie purely nominal" he said. I'VE
have no Board of Trade in Omaha az in
New York. There is no market in our
stock. i doubt II there has been over one
transaction a month during the last year"
In answer TO the questions of the county
attorney Mr.. wattles cited the maximum
price obtained during the last year at ten
shares OF preferred at IS and 100 shares of
common stock at 50. That the latter sale
was rsade to himself was the only admis-
identity OF any parties involved in sales.
The annual report of the company. which
was brought In, was referred to by the
president as only book report. 1t showed
the property of the company to be worth
tl70Oo,OOO. President Wattles placed 1t at
s14.OO0OoO. took off So 10000 for property out
side OF the county and A,5oOOOO for depre-
citation.
sit Action IL Postponed.
The motion TO postpone action upon the
matter brought a strenuous objection from
Commissioner Lynch, who observed that
the board had to close its sittings on next
Monday. and that II farther put off the
matter might not be reached at all. Q. j.
Packard. chairman. voted with Lynch
against postponement The other members
OF the board. which includes the county
clerk. the county assessor and the county
board voted in favor of the resolution