The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1913-04-04
That Friend an Additional Burden No Resp
To Lay Ones Soul Bear to Friend Frequently Give That Fen

New York side Of the lake and on
this ground he argued that Vermont
ought not to urge such heavy valua'
ton of the property.
The state submitted the following
figures on the Champlain Transports
ton company: Capital stock $l5O,OO0
according to Delaware and Hudson
book value, $4,000; LIST income deben
lures, $250,000 due 1947, As $130,S33,
based on Delaware and Hudson book
value; I'd debentures, s350,000 due
1916, IS Delaware and Hudson, book
value, $1S3,167. Total, $564,000. Six
hundred thousand dollars Of income
debentures were acquired by the Della
ware and Hudson al par in 1910 &C
cording to the New York public SER
vice commissions report for 1911, and
$52,05O stock valued by Delaware and
Hudson at $83,911. Income secured
during the year was $1S4,375. The
second debentures were disposed of
by the Delaware and Hudson during
the year ending June 80, 1912. $94,450
OF the stock of the Champlain Trans
portation company Is owned by the
Rensselaer, and Saratoga railroad, val
ued at $350,44S, these shares having
been turned over to the Delaware and
Hudson in trust according to the
terms of the lease; gross earnings OF
the Champlain Transportation COM
pany. Six months ending June 80, 1912
1923, 1D9.67; six months ending Decem-
Der 81, 1912, $90.036.90; Total for the
year, $113,146.57.
The Hoosac Tunnel and Whining
ton railroad was then taken up. Presi-
dent John T. Kellas, who has been in
Montpelier seven days awaiting the
calling of the case, did not appear to-
day and a director of the road was
the principal witness. The state Sc
cured the admission that it is gener-
ally understood in Windham county
that Rockefeller controls this road. 1t
was ackno wiedged that the road Is
earning 8 per cent on its capital stock
The gross earn ngs of the company
last year were $l02,64S and the oper-
ating expenses were $64, 457. The
state estimates that on a per cent
earning basis the valuation of the com
pany's Vermont property is worth $29
800 a mile and should be appraised at
$492, $50. All but 90 shares OF the
stock of this road stand in the name
of the president.
When the Bellows Falls and Sax
tons River Street Railway company's
case was taken up the company asked
that the valuation of $4,000. made by
Commissioner Cushman, be reduced to
100000. The road claims that its net
income is only $1,000 year The APP
peal of the Barre and Montpelier Trac
ton and Power company and the Bur
lington Traction company were heard.
The state tsked for an increase in the
valuation of the Military Post Street
Railway company and showed that
during the past eight years the COM
pany has declared upwards of so per
cent in dividends.
No change was asked by the state
in the valuation of the Springfield
Street railroad. The state urges an
increase in the APPRAISAL Of the Yer
mont company. which operates an
electric road between Bennington and
North Adams, Mass. The Cushman
appraisal of this road was s350.000.
Sometime ago the road received per
mission to issue bonds to the amount
of $846,000 and at that time the com
pany gave its valuation as $4,000
The state contends that the property
should be appraised for the amount
of the bonds at least.