The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1919-09-12
State BOARD LET $105 100000 OF CORPORATION PROPERTY
GO FREE-RAISE LAND AND LIVESTOCK HUNDRED PEI CENl

The work of the boldest brigands
in history, the robberies of the James
and Younger gangs were as childs
play compared to the unblushing rob-
berry of the taxpayers of Montana OF
the taxes on property of seven big
corporations in this state to the value
of $1O5, 100000 perpetrated by the
State Board of Equalization which
practically concluded its session last
Saturday.
This is no wild statement. The fig
ures which are given below prove
that, despite the fact that the law
plainly says all property must be as
sessed at its full and truS value, the
State Board fixed the value of these
even corporations at $105. 100000
LESS THAN THE OFFICERS OF
THE CORPORATIONS SWORE THE
PROPERTY WAS WORTH.
SWORN STATEMENTS ON FILE
1t is an easy matter for any one
to prove these assertions, because
most of the seven corporations named
later in detail, have their sworn re-
ports filed with the Public Utilities
Commission at Helena FOR THE
PURPOSE OF KEEPING THEIR
RATES UP TO THE HIGHEST
NOTCH.
A FAIR PROPOSITION
Is it not, therefore, fair PROPOSE
ton to set the value of a corporation
at the figures upon which that cor
There are three ways. OF arriving
at the value of the assets Of cor
poration. One way is to add capital
stock and bonds; another is to take
the NET earnings from hree to flve
years. and find what capital would be
necessary to produce that sum at !
per cent; the third method is to COM
put the physical value of the pro-
perty, which, taking a railroad for
example would include right-of-way
trackage, rolling stock terminals,
etc. Z
STRUCK AN AVERAGE
In the forms prepared in the office
of the attorney general this year ALL
| THREE METHODS WERE USED
AND AN AVERAGE STRUCK. This
plan was eminently fair, and is the
basis upon which the State Board Of
Equalization should have assessed thu
various properties. But did they dt
it? Not by $105,500, 900!
DIFFERENT WITH FARMERS
This same State Board of Equal
cation, however, very rehg1ousi!
raised the farm lands from 3 pc
tc,rt to 33 1-3 per cent. This sam'
| State Board also raised cattle, hogs
and sheep from 5 per cent to loo pc
tcent in an effort to place everything
!, owned by the farmers and laborer g
IT'S FULL AND TRUE VALUE.
CHILDLIKE EXCUSES
1 And when Attorney General For
!. protested at permitting the railroad
and Montana Power Co. escape taxa
, tion ON s105, SOC, 600 worth of pOrpel
ty what excuse do you suppose tn
!. othe, members of this august boar
5 gave. Listen! This is what the
! ! said ''Oh well, the railroads are ha,
! ing such q pretty tough time OF
and TO increase the Montana Pow'
Company Assessment we will have
give them 10 days notice AND iii
WILL HOLD UP EXTENDING TIL
5 ASSESSMENTS IN THE VARlOU
COUNTY OFFICES AND HAMPE
n THE WORK OF COMPLETING TIL
q a TAX ROLLSw
e IN DESPERATE POSITION
These champions of the big "a
= !, lodging corporations were sure
- desperate straits for excuses TO u
such subterfuges.
The consummate gall Of a bunch
pirates letting the railroads esca
E paving taxes on millions OF dolla
r worth of property because tn
were having a pretty tough time
/ it'' and then raise the assessment
re livestock 100 per cent in some cas-
1e Who is "having the toughest time
= it." the railroad maggots or the dr1
- out farmers in Valley and other cor
~ ties? ~,
ell THI, BUNCH THAT DID IT
he The State Board of EQUALIZATION
co composed of Gov. Sam Vamp. Ste
art, Sec. of State c.. T. Stewart, st;
III Auditor Porter, State Treasurer H
m and Atty. Gen. Ford. To the ere
ty Of Attorney General Ford be 1t s
h he fought the corporation serv'
~, majority but was in a hopeless m
ority.
DISTRIBUTION OF TAX GIFT.
In permitting and encouraging t
- lodging by corporations at the
IN pense of other taxpayers, the st
ipt Board of Equalization puts its OIL
of 10. K. on the following unjust assf
ch ments in round numbers:
ty- Great Northern, real valuai
ev. 500, 900, 900; assessed at $S1 ,OOO,t
the Northern Pacific, real valuat
md 500. 900, 900; assessed at $72,OOO,Ot
ng Oregon Short Line, real valua'
av- ss. 800, 900; assessed at $1,000, 600.
no Milwaukee, real valuation S6O,o
Law 900: assessed at $49,000,0O0.
IL Butte, Anaconda and P, real
ere ST, ,589, 900; assessed at s3,OOO,ooo
ter ONE ILLUSTRATION
ex- lust to illustrate the method
was used to arrive at the assessn