St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1912-08-14
RepubIicans and Corporations

Republicans and Corporations
The republicans Of Vermont can
proudly offer the record of the past
ten years as a refutation of the
charge that they have been under
corporate control. In the matter of
taxing corporations the following
changes in laws have been made:
In 1904 this>law was amended
raising the rate upon the appraised
value of the road to one per cent per
annum or two and one-half per cent
on the gross earnings of the road
from all sources. In 1906 it was fur
Their amended making the rate on
gross earnings 215 per cent of such
part of the entire gross earnings
derived from all sources
as does not exceed $4,000
per mile OF the road bed located
within this state, two and three
fourths per cent on gross earnings
between $4,000 and $4,000 per mile;
three per cent on earnings of $2,5OO
to $4,000 per mile and so on up
to four per cent upon gross earnings
exceeding $4,000 per mile.
The same rate of taxation is made
to apply to the operation of steam
boats. The rate for express compan-
les was fixed at four per cent on the
gross earnings of business done
wholly within the state in 1902,
changed in 1904 to eight dollars
per mile of railroad located within
this state over which express COM
panies did business and changed
again in 1906 to apply to all routes
or lines operated by any corporation
or joint stock company or person
transporting express for hire.
The whole list of corporation tax
es has been increased during this
period. That these changes were
not in the interest of the corpora
lions is shown by the increase in
revenue turned into the state treas
ury as the result Of the increases.
In 1901 the total taxes collected
by the State Commissioner of Taxes
was $5O7,69S.54; in 1902, $685.
561.S6; in 1908. $61S,955.9O; in
1904, $649,291.55; in 1905, STA
461.24; in 1906, $766,743.35; in
1907, 1891, 143.42; in 1908, S974,-
O4S.O9; in 1909, $1,O5S,O1O
This shows an increase in corporate
taxation in ten years of $55O,312.39
per year or more than double what
it was in 1901. Some of the increas-
es are as follows: In 1901, the
savings banks and trust companies
paid an annual tax of 2,691.49;
in 1909, 454,461.47, an increase of
1901, 769.9S.
In 1901 the railroads paid an an
nual tax OF $13O,656.3S; in 1909,
$272,2O3.16, an increase of SAL
546.7S.
In 1901 the insurance and guar
anty companies paid an annual tax
of $46,O4S.S2; in 1909, $1SO,363.19,
an increase of $84,314.S7.
In 1901 the transportation, ex-
press, telegraph and telephone COM
panies paid an annual tax of $751;
1861; in 1909. $S1,9S1.6S, an in
crease of $16,7S5.47.
Much progress has been made in
the control of public service corpora
lions. The act of 1908 creating
Public Service Commission gives the
commission general supervision over
all companies engaged in the manu-
facture or distribution of gas or
electricity for lighting or heating,
all express companies, telephone or
telegraph companies, all companies
engaged in the manufacture, sale
or distribution of power for public
use. The commission is given the
power to prescribe the equipment
for and standard of measurement,
pressure or initial voltage of the
products of these companies, provide
commercial units of product or SER
vice, the manner of conducting bust
ness, the price. toll or rental charged
by these companies, the sufhciency
and maintenance of proper systems
and plants, restraining these COM
panies from unjust discrimination
and regulate the issue of stocks,
bonds, mortgages or other securities
to prevent over capitalization.
In 1902 and 1906 laws were pass
ed giving this commission power to
regulate the crossing of one railroad