Licking Valley courier. [volume] (West Liberty, Ky.) 19??-current, 1912-11-07

$50. whereas the Board found their
1919 assessment should be $18,79S,690
The G., N. o. & T. P. R. r. in 1901
paid taxes on a franchise valuation
Of only $3,110,197, and in 1911 on
Of only $3,559,320, whereas
the Board found their 1912 assessment
should be $10,674,200. The |. G. in
1901 paid taxes on a franchise valua
ton of only $1,9S9,S7O, and in 1911 on
a valuation of only $4,510,32O, where.
as the Board found their 1912 assess
ment should be $14,746,S57 The L. &
N. r. r. in 1901 paid taxes on fran
chise valuation of only $6,504,s79, and
in 1911 on valuation of only $11,-
$4,000, whereas the Board found
their 1912 assessment should be $45,
42S,074.
The Covington companies in the
past paid as little, proportionately, as
did most of the above mentioned COM
panies, and without exception all
these companies and the two others
suing wanted the same assessments
for 1912 that they had in 1911. The
Board Of Valuation and Assessment
based their 1912 assessments on con-
vincing proof of values placed before
them, and the assessments are uni
formly just and fair, and of the more
than four hundred corporations as.
sessed, only seven have protested in
the courts, and these are among those
that have always proportionately paid
the least.
In the last twelve years the State,
counties and cities have been robbed,
and the word robbed is the only word
that fits the case, of more than ten mil
lion dollars in taxes.
In the years from 1902 to 1911, in
elusive, a period of ten years, there
has been an average increase in the
franchise assessments Of the four larg.
est railroads Of the State of only Ia
per cent yearly, and this almost un-
believable record of astonishingly
small increases was made in the ten
best years for earnings that the rail.
roads of this country ever saw.
The picture here presented Of the
previous inadequate franchise assess
ments is astounding, but when one eX.
amines into the situation regarding the
tangible assessments made by Rail-
road Commissions of the properties OF
six of the corporations now suing the
State, the word astounding" is made
quate and must be here supplanted by
the word .dumfounding to state more
correctly what the Tangible assess.
ment picture actually presents.
Work Is Delayed Decade.
Take the case of the G. & o. r. r.
and the records show that the tangible
property Of this company in 1892,
twenty years ago, was assessed at
$s.019,577. In 1911 Notwithstanding
the extensions made in mileage of
road, double tracking Of vast system,
acquiring much new real estate and
probably more than doubling theil
equipment OF engines and cars thi.
company's tangible property was as
sessedS at only $6,270,270, or 21% pei
cent less than in 1892, twenty year!
ago.
In 1892 the market price of c. & o
stock was around II cents, and to-day
the stock OF this company Is selling
at SIS cents, and the capital stocl
has been increased to one hundred
million dollars. Further comment tC
show that our state has been iobbeC
IS unnecessary. The tangible property
OF the c., N o. & T. p. R. R. WAS as
sessed in 1911 for less than 1t was as
sessed in 1900, and but little more thar
in 1890, Notwithstanding the great i'm
provements made by the company
The other railroads have been similar
ly lnadequately assessed on their tang
BILE property for many years,
In May, 1910, prominent official @
one Of the companies suing, stated tha
the special interests had in years pas
controlled the states taxing board
and the records apparently prove h
told the truth In that instance. II
+! also stated that he would control tn
present Board OF Valuation and A,
sessment, but in this he has proven a
ignominlous failure.
] Board Acts For People.
To date the people have won, and tn
Board of Valuation and Assessmen
consisting of Henry NJ. Boswortl
chairman; Tom s. Rhea and C.
Crecelius, has finished its work fC
1912, and, thank God. for once It ha
acted In the interest Of the people.
Until this year the Board of Valu
tion and Assessment has been CO
trolled in the interest of the big CO
: poratlons by some hook or crook, cit
er friendship, political favor rendert
or 10 be rendered, bribery or intlm
dation, but never before has the stat
county or city been given what 1t We
rlghtfully entitled to.
The eight suits that have bee
brought against the state must !
fought through all federal and stat