Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1913-04-10

and it's statement shows surplus from
operation of the electric road of SG.T3.53
1t is appraised at $1,000 Tho State asks
for $4,000 Mr. Adds, tho manager Of
the road, estimated its value Mt not over
$4,000.
he Bellows Fails & SaNtous River road
has 4 capitalization Of s2i2,N9, appraised
at $4,000, was satisfied with the appraisal,
but the state wants more.
BURLINGTON TRACTION COMPANY
The Burlington Traction company was
shown to have S2oO,CO Of stock, paying six
per cent. dividends and $4,000 bonded
debt paying six per cent. 1t also owns
the Nergcnnes power plant bought last
year for 100000. The appraisal was $40
600. The State did not ask for more and
&. w. Browncll for the company accepted
the appraisal though he thought it would
be a hardship for the company.
The Military Post street railway with
stock and debt of $l7jOn and a surplus,
after paying dividends of eight per cent.
OF sS.5S33S, was appraiscd"at $l1l,360. \
ma jority of the stock is owned by the
Traction company and administration and
superintendent is paid by that company.
MIR. Brownel thought the appraisal was
too high, and that the post at Fort Ethan
Allen is likely to he abandoned which will
ractically destroy the value Of the road.
Very little time was taken with the
street railroad cases as their affairs are
not so complicated as those OF railroa ds.
There was no contest in the matter OF the
Springfield road. The cases Of the Yer
mont company and the Barre & Montpelier
Traction and Power company were heard
and the hearings were closed.
NEED or PERMANENT BOARD.
While the statute provides that the
decision of tins board shall be final
it is not at all certain that if a cor
poration should be dissatisfied with
the findings. it may not force the
matter into the courts. 1t is claimed
by some attorneys that writ Of Ger
tiorari would compel review of the
matter by the courts. or the com
panv may refuse payment Of its tax
and compel the state to sue for the
amount. or, should . federal ques-
tion he raised, the case might he sub
iccted to review by the United states
court.
The few decisions that have been
rendered and he agreement between
counsel have shown no disposition to
deal with the companies in any un-
reasonable or unjust manner.
The present board is not constituted of
experts in railroad valuations, nor is it
likely that any succeeding board will
possess that special capacity. Nor has
the board sufficient time 10 make the
complete and detailed examination it has
become evident is necessary. The brief
time remaining, in which the report must
bc made mp ana filed, ncccssitates a
superficial examination.
1t is the opinion of some Well-informod
mon who have followed these proceeding:
that it would be prolltabl" and desirable
to establish a permanent board to have
Jurisdiction over such matters and with
authority to carry on thorough in
ve-tigation of the entire question There
is no doubt that such a board might well
spend year in securing the desired in
formation. This Is a matter that really
requires early action and there IS not
| much doubt that sufficient interest viii
be aroused by these cases to warrant
the special So sion of the Legislature
which is expected to he called next fan
in creating or establishing such
permanent board