Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1913-03-20

an incentive heretofore to develop, to
give to the Rutland and the Boston
Maine and the Central vermont proilts|
Just think of that for moment.
"Our law provided for a physical Nalua-
ton of the property, and it gave the rail-
roads the option to pay certain per
cent. of gross receipts or earnings. was
the spirit of that law for 20 years such
as to build up the profits of those roads?
I think not not that the roads have
violated any law. no. If there has been
any error here It has been by the state
of Vermont itself. 1t gave the option. 1t
has seen tho error Of its ways, however,
and changed that law
"lGow under such conditions, are you
going to get mt the net earnings of these
properties? Must the state Of Vermont
90 into every rate that is made for every
station in this state and say whether 1t IS
fair or Just, or the proportion that that
particular road gets of the whole rate is
fair and say what the net earnings or the
roal earnings Of that property or OF the
properties OF the State are? That Is
physical impossibility. in the sense that It
would cost YOU moro money than the
State can spend for any such purpose.
You are driven, think as matter Of
state policy in fairness To the state, and
in fairness to these corporations to the
plan have suggested to YOU: That is to
tax them on the market value of their
property.
-
OWNERSHIP is UNKNOWN.
The day has gone by when ii is mp to
Vermont to examine into the relations be-
tween these corporations inside the state
ana those outside 1t would require a
force of experts to keep the state in touch
with that situation, and therefore made
the recommendations that dld. Because
of the difficulty of getting at the earning
capacity of these roads suggest 10 you
tn" Fundamentally cardlnal underlying
proposition OF state policy FOR your auop-
ton which VIII be iair to THESE corpora
tons. who really knows TO-DAY VINO
owns some OF them You doH ohIE us
the public service commission reports
may disclose the nominal ownership OF
some of them Now 1t Is matter OF evil
dence that such mas oeen the pollcy OF
some OF these roads mat II certainly u'u
not tehd To increase inc taxes oi vermont
or 10 ihcr'aS" 'he net earh'hES VI inc
pI"pe'.>' "oSc i''o''' az ''''''s
you cam get AT II you so ueSiie'
So an '0ii' !, '''''' ~
'''''.N ''''t III ''le mann Eo" WIN oe ie"u
&C. " s''''''7 an '''' '"' "".' a.
inc "atd So" can @pout l'e value oo''
o' ''' STOCK anu 'i'e i'iueo'euhoss o'c""S'
"',E oo''. 'oSe'"'I comprise ''' 'ed
N"'"c Vi wv p'"poi'E VI ''' Nd'io"S i'"'S
Vi .''9 ''"t'' anu WIN '"'' "'io'' ~"
VIII" Hu"' "'S' '"uE'i'eH" 20" '"" uc'
if't'N Jay Gown question OIL o'at'
ponce why" VIII D' '"'' u '"e "'t'.'
"hlch VIII EiNe II III proportion 10 'h'
49,, '''''7 '''''' 10
NIT IN Won that boforo I made the roc
concentrations IA the Iogis,o+ura no
came convinced ohsoluto,v TIM, M inius
,ico was hoirg dorc hoc,,,ec y-,r,,,o,,,
was M. rocoivir,, ,or nropor,ior NJ tave,
os cnnnarod Win these ohio. States tax
| tho bor ,,iIoopo into corsid.rotin,, an,
other conditions and Won ,,iu find If va,
COO g., to ,v,n,i,., tho .,,,b,,it,,, o.,
l.,yt tb, law, oC oro otbor ct,+. that -,
/ Connecticut .b,+ ,h,. ,,ro,,o,i+t,, ,,,o
cont ~ ,,,,;,,, nj ,t,o ,.ai,,.,t,., a.. 90,
| ,dor,od tr.,o
| 90, MAJ. ,a .,,4 ,t,, ,,,. .,i,,
ot,,,,, ,r,,, ,,.,..,,, H.
| ,,'oao -. 49,,
l,i..., ""'
'"r
| =. way may '1' ''S
| +,
~ ya'''.' !" my ',''''' "nu
WV" F'' 80 i"'o '''' mater 'Ho'
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