Putnam County herald. (Cookeville, Tenn.) 1903-1922, 1920-10-28
WEIGH REPLIES TO mis-
LEADING STATEMENT


cans, and distributed over Putnam
county, undertaking to criticise, es
pecially the assessment of the Ten
nessee Central, as compared with
real estate in Putnam county.
This circular was signed by: Nor
man Massa. Oscar Clark, Tice Rob
bins, F. A. Brown, Hop Bohannon
billiard Thomas, Walter Stout, Nj. H.
Ellis, J. E. Oliver, E. Y. Gibson, NJ.
E. Lee, ]. R. Mott.
These gentlemen know, as every
other informed citizen in Putnam
county knows, that the purpose of
the tax law is to assess all property
of whatever kind or character at it's
cash value, and no fair, honest man
can or will offer any objection to this
principle. 1t is not a question as to
whether the Tennessee Central pays
more or less under the new assess
ment than under the old, but the
question is whether or not the Ten
nessee Central is assessed at it's full
cash value as in other property.
I assume in the beginning that the
County Assessor, and the County
Board Of Equalization has assessed
the real estate in Putnam county at
its cash value, according to their
oaths. As far as our board Is con.
cerned, 1t had practically nothing to
do with this assessment, as there
were very few appeals, and the as
sessment stands with these few ex-
ceptions just as made by the County
Assessor and the County Board of
Equalization. This being true, there
is only one question involved, and
that as stated is whether the Com.
mission has assessed the Tennessee
Central at its cash value, just as
other properties were assessed.
Our Board, in my opinion, has as
sessed the Tennessee Central at it's
full cash value, as the following
facts will convince any man, capable
and willing to understand simple
facts and figures.
The Tennessee Central is assessed
as whole at $4,3S2,875.00. The
Southern and Illinois Central Rail-
roads own the first mortgage bonds
on the Tennessee Central, amounting |
to $4,000, 100000 and these bonds are
at 4 per cent interest. The Southern
and Illinois Central Railroad about
four years ago offered to sell these
bonds at 55 cents on the $1.00, or for
a total sum of $2.2OO,OO0.OO. Since
that time no interest has been paid,
and the unpaid interest on these
bonds at the present is $722,0000O.
There is outstanding, Receivers
Certificates Of s33O,O0O.O0 due the
Fourth and First National Bank,
which has not been paid, and neither
has the interest been paid for the
past three or four years. So far this
year. the Tennessee Central has
leficit of $547,OOO.OO, including inte-
est Not a cent for taxes or inte-
'est has been earned. Money was
last year to pay its taxes,
Ind has not been repaid.
On account of the lack of funds I
he trestles. depots, engines and
,ther property are in bad repair. The :
Company is short on engines and .
'ther rolling stock. and cannot now :
ender the service it should to the
hipping and travelling public.
Instead of these twelve gentlemen
rying to mislead the public and Gre
ting sentiment for the assessment !
( the Tennessee Central In its pres !
mt condition at more than it's cash 4
alue, they could do our Mountain :
ection more good to pursue broad 4
curse by advising, as they term it !
an honest deaP' for this road, in
rder that we may have assurance Of !
s being able to exist and continue
some way to serve this section. :
It was stated before Judge Sanford
bout ten days ago by attorneys that ;.
le first mortgage bonds of $4,000
1000 was the only securities on the I
ennessee Central which had or rep
scented any value. 4
l state the above facts, in order I
give some idea as to the value OF !
le Tennessee Central, and If these /
cts are truthfully stated by me, it =
ill be very easy for any man with
yerage intelligence, to see that the y
ennessee Central is assessed for I
very cent it is worth, and the chan y
IS are that the assessment of the 4
Central is higher than =
ly other property in Putnam county. 4
To apply the principle of assessing =
'operty on an income base as advo- 4
ted by Col Taylor, the Tennessee =
entral would not be assessed for =
ly amount as it is not making, and I
Is not made nickel year. .
The circular issued by these gen. Z
emen advises the voter of Putnam :
unty to vote for Julian H. Camp 4
III, as my successor, as one being >
edge dby his platform to give the &
rmer square deal. There would
no way for Mr.. Campbell to pro- Z
ct the farmer any more than he +
s already been protected. except to I