Hopkinsville Kentuckian. [volume] (Hopkinsville, Ky.) 1889-1918, 1912-11-05
JUsTUs coEBEL.

CONVENTION, BALTll
$50, whereas the Board found their
1912 assessment should be 1878, 500.
The c., N. o. & t. p. r. R. in 1901
paid taxes on a franchise valuation
of only $3,110,197, and in 1911 on a.
valuation of only $S,559,32O, whereas
the Board found their 1912 assessment
should be $1O,674,20O. The l. c. in
1901 paid taxes on franchise valua.
ton of only $1.9S9,S7O, and in 1911 on
valuation of only $4,51O,S20, where
as the Board found their 1912 assess
ment should be $14,746,S57. The L. &
~. R. r. in 1901 paid taxes ON fran
chise valuation Of only $6,504,S79, and
in 1911 on a valuation of only $11,-
S99, 200, whereas the Board found
their 1912 assessment should be $45,-
42S,O74
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 a Decade.
Take the case of the C. &c o. R. R.
and the records show that the ngible
property of this company in 1892,
twenty years ago, was assessed at
| $8,019,577 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 their
equipment of engines and cars this
company's tangible property was as
sessed at only $6,270,270, or 21% per
cent less than in 1892, twenty years
ago
In 1892 the market price of G. & o.
stock was around IL cents. and to-day
the stock OF this company is selling
at 81.5 cents, and the capital stock
has been increased to one hundred
million dollars. Further comment to
show that our state has been lobbed
Is unnecessary. The tanglbls property
OF the c.. N. o. e T. p. R. r. was as
sessed in 1911 for less than it was as.
sessed in 1900 and but little more than
in 1890, Notwithstanding the great i'm
provements made by the company,
The other railroads have been similar
~ inadequately assessed on their tangi'
Bile property for many years.
In May, 1910, a prominent official OF
one of the companies suing, stated that
the special interests had in years past
controlled the states taxing boards,
and the records apparently prove he
told the truth In that instance. He
also stated that he would control the
present Board OF Valuation and AS
sessment. but IN this he has proven an
ignominious failure
Board Acts For People.
TO date the people have wen. end thu
Board Of Valuation and Assessment
consisting OF Henry NJ Bosworth
chairman, Tom 9 RhQa and & +