The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1913-04-03
nur,soAn TAX urrT,rsI.

d aa fact peil tnsun 10 the ssfs.
ssas - teTmosi tkst fbs rhanEs in
ibs Bas relsiine 90 5he tatatiua q
fAlfaAar maa. ~ shv raeai AsaaaoN
~ the isTlrinlBfe. NJ whwh taoee
w. Us ans srs noA taasd or theit
taanaiiea rather thas appb s2FAinEs
:, fssmeg'y. vss uA6e agoa 80" rec.
omms aaaisou ~ Cos Fletchrr :
eaaht ~ ~ eaualig sea unacrrsfssd
ttAi II mssing thlE recommendation
tts governor pas pFamWrd w -
stf1' a antagonist. ter solely - ,
desire - ob,Ain faI he state TAR
aad gas; rvgenue from corporations
eagogspg f@nthisos Il great sAlhf
under Mhirh theg are o0nductinx =
b0alneps ~ great ard Increasing vol
usBe
gae executives desire $50 70 Sc
rare such changes IN the taxation
iaaa A. woeld require railroads 20
sear their lnm share a the burdens
a. taaaalob.Ahd las legislature r'0of
mixing the force u fairness q ~
propysal euscied il into las The
nrw appraisal under this sew siatu'
was made BY former Tar Conmis'
slap.r ! n Cnshmsa aud from i
appeals pcrc taken by practically al
me railroads. Affected and By the
state ~ weil
II aas the eonteuilop ~ The roads
that the Yaiaatloa reached by the
"A, comm lssloner WA too high. While
that ~ the state WIS that II was too
low and did no, represent the real
,alus Of the corporations Under
The provisions q the statute thee
appeals came before The state board.
consisting ~ the lieatenautgoyernof.
,he secretary II state ard The audi
Tor u accounts and hearings upon
them have bstn IN progress noafly
tso Neefs
90. Fletcher in statement tol
the board o. appraisal when !, began
us lahoss At the state house express
ed the belief that the appraisal
should be BY board rather than
by one man aud that the board
should establish some broad prinei-
pals for the guidance 81 the state
fie made Il clear that IN reaching
fair valuation Of the railroads II /
would be necessary TO consider CAPT
tai stock. floating debt aud the
market value Of bonds This would
give the market value Of the pro
porties aud In fairness 10 tho state
aud 20 the corporations appraisals
should be based on market value.
Tie board Of appraisal has not
yet completed all rs work but il
has after exhaustive hearings made
its appraisals u three railroads
The value 81 the Addison road is fix |
ei at sIs2.6 500 which is lower than
Commissioner Cnshmans appraisal
which was s275.400. The Newport /
a Ricbford roads valuation By the
board a ss46 600 az against ss4O,-
600 By the commissioner while
that Of the Rutland road is Nl,-I
oia.470 by the board in comparison
with ss,0s0.So0 by the commission
or
Here Il will he observed rs a net
gain 10 valuation ~ railroad proper
iies for the purposes Of taxation Of
over the appraisal made
By Commissioner Cusbman or its
fairness there can be no question
The board % appraisal has resorted
10 20 baphazard methods IN reach
Ing rs findings but has carefully
all elements that ought
10 be taken into account IN reaching
4 InHi and equitable valuation
What this means 70 the state can
BE- readily understood when il y
borne in mind that as result, OF
the hoard OF appraisal's review OF
Cnshman's valuations
approximately 100000 has been
added 10 the taxable property OF
the state. Furthermore. II the
board pursnes the same course IN re
gard TO the railroads yet 20 be APP /
praised. which Include the Central
Vermont and which there IS no rea-
son 10 doub, Il VIII do, Il Is plain /
further large additions to the taxa
Bile property within the state win be
made and that the state viii gain !
substantially In revenue. L
No fair-minded citizen will fail 70 !
redlt this important consummauon
% the intelligent and courageous
Initiative Of an executive whose sole
purpose Is 20 secure 10 the state !
hal revenue TO which IN justice aud
saaity il Il entitled Nor VIII such
, citizen fail 70 regard Il az fur
ishing SIMPLE and adequate iastifi
,ation for one. at least 81 the
'hanges reoently made IN an impor-
ant state department a change
hat has prompted severe but I'M
warranted chitlclsm. Montpelier
Journal
improved Touring toBdnitions Ia 1
vermont For 1913 season