The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-08-20
Tax Reductions Are
Asked by Railroads
Plead With State Equalization
Board to Lower vaIua.
tons; Cite Poverty
ACTION SCHEDULED SOON
1t Carrier Proposals Are Accept.
ed Slash Of so Per Cent
Will Be Made

Railroads operating In North d.
kota have asked the state board of
equalization to reduce their assessed
valuations by approximately $5o,00o,-
900 under the 1881 valuations of the
property they own in the state.
The board, which Is considering
equalization Of assessments of prop
erty In North Dakota. has the mat
ter under Amusement and will act on
the railroads proposals before the
end Of the month when the equaliza-
ton work Is to be completed.
Assessed valuation of operating
property Of the five railroads in the
state was set by the board of equal
ization at about $187 900 900 in 1881.
Figures submitted by the roads to
the equalization board would bring
the 1882 total valuations down to
$4,000 900.
The 500 Line seeks to have its
valuation cut practically in half. In
1881. the assessed value was placed
at $262l7,025, but officials of the
road claim the valuation for 1882
should be set at $l3,297,145.
The Chicago, Milwaukee, st. Paul
and Pacific railroad has requested
cut Of more than so per cent from
its 1891 valuation Of $685. ,280. Fig
ures submitted by the road would
make the 1882 valuation $4,000, 160.
A reduction of nearly $4,000, 900 is
requested by the Great Northern rail-
way, which was assessed at $780,
9o7 last year. The road requests that
its value be reduced to SIS. loo, 534 for
1882 valuation purposes.
Excessive Says N. p.
The Northern Pacific points to it's
1881 assessment of 68,105,742 as ex-
cessive and asks that the figure be
brought down to $50,849 ,08C, a reduce
ton Of $l7,256,662.
The Northwestern roads property
In North Dakota was assessed at |
1892 ,294 last year, but officials are
asking for sharp cut this year.
Arguments submitted to the board |
OF equalization by railroad represent
atives stressed that the roads are fac
ing critical financial and business
problems.
George A. Kingsley, general attor-
ney for the 500 Line, made a vigor-
ous plea for reduction of that COM
pany's assessed valuation.
He called attention to the 1891 as
sessment Of the 500 Line by the
board. declaring that
The figure was between $4,000,0 900 and
e6, 900 900 in excess of fair valua-
lion.
The railway instituted cou action
and obtained an order in U. 8. dis
'rict court authorizing the payment
of IS per cent Of the taxes as levied
n each taxing district. The action
s now pending in the federal court.
THE railroads." Kingsley told the
BOARD, ARE facing the most critical
financial and business problems of
heir entire history, due to the gen.
'ral cessation In the movement of !
;raffic. and to the ever-increasing
with new and varied
orms of transportation such as mo-
or vehicles, pipelines, aeroplanes and
Il
Highways and Trucks
Public highways, extensively and
constructed throughout I
his country with public funds. are
low being used by thousands Of
trucks and buses for
rivate gain in competition with rail-
Dads that provided their own rights {
1 way, which they are required by
NV to maintain and for the use Of
hitch they are required to pay every
lbdivision Of government, federal,
tate and local, every known form of
axes.
He declared that the gross earn
1gS Of the 500 Line declined from
900 in 1929 to $39, 000, 900 in
$50, while in 1881 the gross totaled
q, 10000. For the first six months :
1882, the gross earnings were 20 =
er cent less than for the same period
, 1881.
w. L. shoettler, assistant right of :
ay, land and tax commissioner for =
re Great Northern railway. submit
I'd figures showing that the net in .
ome Of the road declined 81 per 8
ent In. the last two years and the h
ecrease In railroad values during the 4
st few years, he said, "has been at =
lch q rapid and alarming rate that \
llues computed by the use of five Z
Ear averages are obsolete. Values I,
imputed by capitalization Of income
I'D market price Of stocks and bonds {
" the year l93l-32 are excessive and !
In the light Of condi-
ons at the present time, and which
ave existed for the last eight or 10
onths."
Milwaukee Earnings Drop Y
The Milwaukee road presented fig :!
res showing q sharp decrease in u
'oss operating revenue in North Da- e
ota and claimed It's property sis no q
niger sufficient security for addi-
onal borrowing In the money mar K
t." e.
1T has been compelled to apply to 8
le reconstruction finance corpora Q
on for financial help" A. g. Dudley, e
x commissioner for the road, told
le equalization board. 1.-THE rev. G
tues for more than two years have 81
zen insufficient to pay the expenses 8
: operation, interest and taxes. It lc'
poor policy for the public to Grip q
3 It's own agency through exor- =
tant taxation and Is IA injustice Z
thor who have invested funds IN 0
C6omtiauna a 49,. 6yal