The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1917-09-13
D0INCS AT STATE CAPITAL

The increase by the State Board of
Equalization of the assessed valuation
of the Northern Pacific Railroad o
than 81 per cent over the 1916 assess
|ment has led to much speculation as
to whether or not this corporation will
pay the resulting tax or take the mat
tier into the courts. In view of the
railroads contention that this is an
over-assessment, the semi-annual re-
port or it's officials to the stockholders
December 31st, 1916 is of interest.
For the six months period, the gross
railway operating revenues were $43,-
TAP, 1852. The net rail operating in
come was $18,5 " ,801.65. Adding to
this, the total incorporating income
of $4,660,193.89 we get a gross income
of $22, 632, 1896. "a. A corporation
whose profits amount to more than 45
million dollars annually and which has
more than one-ffth of it's total track
age in North Dakota cannot very we'll
complain of confiscation when the in
crease in their assessment for the cur
rent year will only mean an increase
in their taxation of $350,00O.
This same report reveals the fact
that for the six months period, $780,
222.O4 was carried to the profit and
loss or corporation surplus account.
This was II per cent of their gross
revenues. The total corporation sur
plus on December 31st, 1916, was
$98,253,275.10 or approximately ne
third of the total valuation on which
the corporation contended they should
pay taxes.
The condensed statement of the fin
ancial operations for the six months
lending December 31st also sheds con-
siderable light on this corporation
which contends it is o~ver-taxed. The
leash on hand in banks on June 3Oth,
1916 was $2O,136, 1884. After pay
ing interest, taxes and all other fixed
charges, the net income for the six
months was $15,980,222.04. In addi-
ton there was an income of $780,
|OO4.O 8 which the corporation derived
from it's land department being pro:
leeds of sales and interest on deferred
pavments. This makes a total of $780,
|776,555.O6 which was available during
the six months for the payment OF
dividends and for permanent improve
|ments and for further piling up OF
the already large surplus of 100 mil
lions. It would seem to the laymar
that the courts would not consider
that the State of North Dakota was
confscating this property if they took
s35O,OOO out of these enormous pro-
fits in the way of taxes.
The mass meetings called by the
Nonpartisan League at Fargo and st
Paul to discuss government price fix
ing promises to be of unusual import
ance. The League has invited the
people generally Of North Dakota ano
of the Northwest to assemble ano
formulate their views as to the pro
per manner of price fixing. 1t is pro-
hable that both the meeting at Far,
90 and St. Paul will protest against
the price fixed at $3.50 a bushel TO,
wheat. However, the farmers OF the
state do not appear to be SO much
aroused over this matter OF the price
of wheat if other commodities are
placed upon the same basis. Then
contention appears to be that either
the price Of wheat should be fixeo
HIGHER or that the price Of flour ano
, commodities consumed generally by
the people be lowered to q correspond
!, ing level.
The impression that the Fargo
meeting next Monday and the meet:
ling in st. Paul on the 18th, 19th ane
l2Oth are to be q general protest
against the war appears to be without
foundation. There can be no question
hut that the state administration ane