The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-09-26
TAX ASSESSMENT
| FOR STATE FUNDS
Annual Report of State Cor
poration Commission Is
Made Public.
COMPROMISE IS PREFERRED
Commission Tries to Get Parties
observation-disclosures OF
Charter Business.
COMPROMISE IS PREFERRED

During the past year the sum OF
$l.4ll.sl2s5 was assessed and collected
for State purposes by the state Cor
poration Commission. according to Its
annual report. made public yesterday.
This was divided as follows: Proptrty
and franchise taxes on steam rail-
roads and canals. ts99.2nl.2e; electric
railway companies. $s7,ss5.sc. steam
ship companies. S7.s7s.Ss: water. light.
heat and power companies. $59,oS2.es;
telephone and telegraph companies,
$53,97029: express companies. $27.o3a-
So; sleeping. parlor and dining car
companies. S5.4335S; registration fees
and general franchise taxes, $22S.f46;
charter fees on domestic charters. $685.
00l: fees on foreign corporation He
enses. S2s.412: clerical fees. tax on seal
and fines. ss.sss.77.
The franchise taxes alone assessed
against canal and railroads amounted
to $55S.S5s.37. The franchise tax
against water companies, light. heat
and power companies and gas com
panies was $35.s45.s0. The registration
fees were s7l.s2s. while the franchise
taxes assessed were $l55.i2a.
Property Assessments.
Steam railroads in Virginia. were
assessed by the commission with
property to the value OF SOS. $4,000
Canals were valued at $403.372; cleo
trio railway properties at $7.53e.42b:
telephone, telegraph. steamboat ex-
press and sleeping car companies at
$4,2ee,s27.9l: light. heat. power, gas
and water companies at sS.s0+.S9o
The gross transportation receipts OF
the steam and electric railroads in the
State last year amounted to $55,753.-
043.6l, against s5s.ss5.i73.c5 in 1910.
The total miles In Virginia Of single
second. third and fourth tracks and
sidings Of steam railroads in 1911. was
s.77s.40, an increase of iSe.ss over
1910. Mileage Of electric railways was
4sS.Os, an increase of 23.4S miles.
On January i. 1912. there were gal
domestic and 5s9 foreign corporations
authorized to transact business in this
State net increase Of 244 domestic
and ffty-one foreign corporations dur
ing the year. In 1911 S65 charters
were issued. against $50 in 1919. Two
hundred and eight amendments &c char
tiers were granted, five charters were
revived and four mergers permitted
Eighty-fve foreign corporations were
licensed during the year, and twenty
three amendments to foreign charters
were filed. There were 3lS voluntary
dissoluti ons in 1911. while the charters
Of 4O5 domestic corporations and the
licenses of sixteen foreign corpora
tions were revoked for failure to pay
registration fees for two successive
years.
Prefers Mediati0n.
The commission has," comments the
IN h.
erto announced policy with reference to
complaints against the railroads and
other public service corporations. That
is to say. whenever a complaint is
lodged with the commission (unless
frivolous upon its facet. however in
formally IL may be presented. the COM
mission presents it to the corporation
complained against and seeks. and gem
orally succeeds. in bringing the COM
plainant and the officials OF the cor
poration into a conference in the pres
ence of the commission or some mem
Der Of il. We thus attempt BY media
ton to avoid formal judicial h. arings
because we believe that by this method.
in meritor;ous cases. such relief as is
just may be speedily secured without
the delays and expense of litigation.
Because OF this policy there have been
few judicial hearings Nd record Of
matters OF this character appears ex-
cept such as may be gathered from the
correspondence in each case, but we
believe that much has been accom-
plished and many causes OF friction re-
moved during the past year.
The report Of the chief examiner
Of banks appears in this volume and
needs no comment except that the ex-
amtners OF banks and the clerks in that
bureau deserve commentator for their
faithful attention T. their duties.
The clerk Of the commission and
his subordinates continue to be faith
full to their multifarious and la oorious
duties. and il is believed that the public
business is properly attended to in this