The Clay City times. [volume] (Clay City, Ky.) 1901-current, 1915-01-14
,.hY BOSWORTH IN RACE FOR
y C0VERNORSHIP IN old KENTUCKY

railroad companies and other Cor
porations liable to franchise tax had
been inadcquately assessed for many
years, and consequently were not pay
ing their fair proportion OF the taxes
due the state and the counties and
cities therein. During my campaign
for auditor in 1911, pledged the.peo-
lie that, if elected. would full! y and
fairly investigate this subject and, If
found that the ffanct ses OF these
corporations we're not fairly assessed,
as chairman of tae beard | would use
my power to correct any official de-
linquency that had heretofore exist
ed in that respect.
Soon after entering upon my official
duties as auditor | caused a careful
examination to be made OF the reports
made by all corporations for assess
ment purposes to ascertain whether
these corporations in Il e past had
been adequately assessed for the pur-
poses Of finding out the truth as to
the actual value OF this character of
property in the state.
| had this information carefully pre-
pared, in writing. and when the ms
came to assess these franchises laid
IL before my colleagues on this board.
The result Of the investigation
made Of this subject showed that
most of the small companies doing
business in the state had previously
been properly assessed but the large
corporations of the state. those with
great power and political influence,
bad been grossly under-assessed
teitner by design or through incom.
etcrovN. - - 40 r4~- '7~rant
examples OF favorit,sm extended by
+. GeCt.,' 1t of
tie C.ncinl'ti Gas Transportation
comrany. The franchise of this com
pany was assessed for the year 1911
at $30.s24 and raid to the state taxes
Ca tGG: assessment amounting to
$i54. For the year 1912 the franchise
Of this contrary was assessed by the
present hoard at sl.S66.3s5 and paid
10 the state that year the sum OF
s9.53l IN taxes, and like sum for
each succeeding year.
During the four years of my ad-
ministration this one company will
Rave PAID 70 the state in taxes on its
franchise on the assessment made by
this board the sum OF $37,324. where
as. had this board permitted the as
sessmcnt OF previous yeare to stand,
u would In four years have paid the
state s616. The state will nave re-
ceived from this company on the in
crease OF it's assessment in four years
the sum Of s3570S. enough to pay the
salary OF state auditor for ten years.
The total assessed value of the
franchises OF all corporations in the
state for the taxing year Of 1911 was
s4S.24l ,647 on which the state re-
ceived In taxes the sum OF $241, 21S.32.
The total assessed value OF the
franchises OF all corporations In the
state made by the present board, OF
which I am chairman. for the year
1918 was $132.42l.4i5. on which the
taxes due the state amounted 10
s612.l07. On this assessment In the
increase Of the revenues OF the state
amounted TO sS7O.sss a year. In four
years the increase in revenues Of the
state frcm this source will amount TO
$500 Or0 in round numbers.
Tie four largest railroad compa-
res in the state brought suit In the
federal court in Kentucky enjoining
the collection OF the increased taxes
levied on tneir franchises. The prin-
Oral grounds relied upon by these
companies to maintain their suit was,
in substance. that the farm lands and
other real estate in Kentucky was not
assessed at more than one-nalf OF it's
real value ct was not seriously con-,
tinued his study OF my picture openly,