The Ely miner., 1911-03-03
|NOU|S|T|VE TAXPAYER
Wants to Know Why Such Small Valu-
atiOns
Why !
ations
ANSWER TO w. j. OLCOTT

the Oliver Iron Mining company,
you must also admit that the min
ing concerns are not here simply
to give you and 1 employment and
that in their general estimation you
are a good fellow as long as you
help towards the ultimate total of
dividends yearly declared by the
Steel corporation, and that when
your quota towards this end falls
short you no longer fit into the
landscape. Bear this in mind.
For figures let us cite Our own
city for instance and try and get a
little insight into the taxation
scheme as it fits into your and my
system.
You build a little house, it costs
you $4,000 of good hard earned
money. The assessor at once
places you on the tax list; value 15
or about $3.50. At 57.4 mills your
taxes will be in the neighborhood
of $36. You pay it, and remem-
Der, there is nothing coming back
and no cost sheet to charge it onto.
At the least calculations, the
Pioneer mine could not be pur-
chased for SIS, 100000. The
Zenith is probably valued at little
less than the Pioneer or say $12,-
100000, making a total of $27,-
900, 900. This estimate is not
very large, many putting the actual
valuation of the properties at con-
siderable more. At one time it
was stated that the Pioneer alone
had ore enought in sight to mine
900, 900 tons a year for so years or
100000 tons. Basing this ore
at a valuation of only S. ton in
the ground would give us $50, ,OOO,-
900. Taxing this property on a
valuation of Is (the same as your
house and cow etc. would give us
$40, 100000 valuation on the
Pioneer with all the other taxable
property about the mine thrown in
for good measure.
These figures appear somewhat
voluminous alongside of the paltry
little, one million nine hundred
and somewhat odd thousand total
valuation of the City of Ely. Don't
this look strange to you? With
two of the best mines in the world,
whose ore is of value not even
made public, our valuation should
be in the neighborhood of six or
eight million and our tax rate
should be about IL or 13 mills in
stead of 57.4. Last year the
pioneer shipped over 600, 900 tons
and valued at about IS ton selling
price, Ga low estimate) would
amount to $3,OOO,OoO. The taxes
on the ore mined alone would be
much more than the company pays
now. And then they get it back
as soon as the ore is sold. Think
of it. Figure it up for yourself
from what you know of conditions
as they exist right here at home.
Why is it that every year a little
is Topped of the valuations of the
mines, thus raising the tax rate?
Mr.. Olcott states that during
the past year more improvements
have been made in the range towns
than in any other towns in
the country and then intimates
that you know full we'll who pays
the bills He probably had ref
erence to the school houses, sewers,
water and light plants and other
improvements put in. Is the COM
pany even begrudging the people
the bare necessities? People who
are here it seems seems to assist
in the accumulation of divi-
dends for the 0. I. M. Co!
People whose only hope is to have
their children educated and them
selves exc along on the ragged
edges of the high cost of living
solely for that purpose. The most
humble community in America
furnishes schools, Besides, are
we not paying for it ourselves this