The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-07-21

1&&1 &Aka AAs
Hillman, did you care7"
e. w Hiilman-The Minnesota Expert
The same attempt was made In tn.
minnesota case TO impeach Hlllman
but ne stood the test-the Legislature
or Minnesota was INDICATED and Hill
man testimony was accepted as cor
rect II Hillnan looks up the tree
when he picks UP an corn let u
warn Gregory and Plant and Matthews
and Brann and Jones, railroad expert
witnesses all. hat the OK knoweth its
owner and the ass his masters CRIB
and what Is Mr.. Hillm ans testimony
He says that there is no doubt what
ever that the Atlanti Coast Line and
the Norfolk and Western can stand
the Justice rates and earn more than
6 per cent under the same. When ne
comes 10 consider the Seaboard Air
Line and the Southern he is compelled
10 use the figures which they give
hlm-he has no other data but theirs
20 go upon he must accept the result
OF their train rulings which Forester
and Creighton say are quite unsatis-
flying and which We have seen are so
scant and inadequate as to be mis-
leading. But he must use their figures
and using them he declares that the
Justice bill will yield 10 Seaboard Air
Line 500 per cent and will yield 10 the
Southern 4.05 per cent, and will yield
to the Norfolk Southern As per cent
IL ASGS SUI H nix
following
Suuis-rn T1ali~ay.
Assessed valuation in round num-
bers S46, 000, 0oe.
Increasing this from 10 per cent TO
Toe per cent we have total valuation
of southern Railway property in
North Carolina in round numbers
$50, 0O0, 900.
Value for intra-state freight uses is
$5,47O, 600.
Net earnings per year after paying
expenses, $221,7e1.So.
Dividing the larger sum into the
smaller shows an earning of 4.e5 per
cent.
Mr.. Hillman then proceeds to sho"
that a reduction of II IL per cent III
the present revenues will develop G.
per cent as follows, to-wit:
Value of property for intra-Stat,
freight $5,470, 600.
Net earnings after deducting IT /:
per cent of present revenue, s350,SSo
Net earnings GA per cent.
The Justice bill reduces the preseIt
net earnings of the railroads about u
per cent and MIR. Hillman shows III:
the Southern can stand a reduction .
y 1-2 per cent from The present reve
lrtc al still ea~1 O. PEI cent on ~
lntt ,inent as abo.. si,pn.
Seaboard Air Line Railway.
Total valuation of properties il
North Carolina increased from III
taxable valuation of 20 per cent t
100 per cent is about $4,000, 600.
Value of property devoted to mira
state freight, $2,83S,225.
Net earnings for year after deduct
ing all expenses. $S5,S67.35.
- Per cent earned 3.03.
: Mr.. Hillman then proceeds to sho,
: that a reduction of 10 per cent of tn
a.
Line will yield to it 6.71 per cent j
fellows, to-wit:
Value of intra-state property fo
freight, s2,S3s,225.
. Net earnings for year after deduct
! iEs 10 per cent from present revenu
$~190,56S.49.
Per eent armed on this basis, 81
Norfolk Southern Railway.
Value of the road for ~intra-stat
Z freight, as shown by the calculatio
for other roads, $3.50, 600.
Net earnings per yea after dedGCi
e ing expenses, $41,589.
Per cent earned, As.
n Mr.. Hillman then shows that a e
n duction of Is per cent from the pres
t revenue will yield to this road 6.
r percent as follows, to-Wit:
e Value of property as above show,
: 100000.
e Net earnings after deducting all e1
e penses and Is per cen reduction !
e gross earnings, $56,743.S0.
e Per cent earned &C..
In all Of the calculations made h
e experts for the railroads and by M
d Hillman, the value OF the property
q tire railroads has been arbit, arily a.
sumed to be the tax values, increase
r from 10 per cent to 100 l'er cent. w
q stTenuously contend, however, that tf
division of the valuations of the raj
road property as betWeen the passer
q ger and freight business and as b'
IL tween intFa-state freight and intel
state freight is as again
!" tie state.
And so our experts stand as 70
- lows:
Forester and Creighton say tn;
the rates in the Justice bill will vie
= a fair IetuYn to the railroads.. Hill
man says hat a reduction of 20 o
cent on the will yield fair r
y turn of over 6 per cent to the Soutl
- ern, a reduction Of - per cent on Il