Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1933-04-06

| Henrik Sh1pStead, Tor not DelnS AFRAID
to speak his mind: by SO doing he has
quite clearly shown that haste caused
state banks to be overlooked In the
banking bill. This oversight certainly
causes every customer of state banks
to loose some confidence In the wis
dom of the man asking for dictatorial
total valuation at the present time
of S55, O0O.O These two companies
during the past five years have paid
1882 per cent of the total gross
earnings on telephone companies.
Estimating the value of the re-
naming companies at $12,5OO, 900.
would give total valuation for the
telephone companies of the state OF
6S million dollars. The property OF
light. heat, power and gas COM
panies is, under the statutes of the
state, assessed at 40 per cent OF
true and full value. Placing the tele-
phone companies in the same class
on account of similarity of property,
they likewise should be assessed at
10 per cent of true and full value.
The average rate of taxes In Min
nesota for the past five years is 62.4O
mills. Taking then the value OF the
telephone companies at 6S million
dollars and levying tax of 62.4O
mills against such property would
give us resulting tax which would
require 8 per cent of the gross earn
ings of the telephone companies to
meet it.
From the engineer of the Rail-
road and Warehouse commission of
the state we have received an un-
official estimate of the valuation of
all of the railroads in Minnesota.
This valuation is fixed at $50 million
dollars. The Interstate Commerce
commission several years ago placed
the valuation somewhat higher. But
if the total true and full value OF
such railroads were placed at $50
million dollars and an assessment OF
: 30 1-3 per cent is arbitrary, of
course; but we believe it Is COM
parable to manufacturing concerns
: and also perhaps comparable to the
assessment of farm lands. Using
that as a basis and the average tax
rate within the state for the past
five years, namely 62.40 mills, would
result in a tax amounting to the
sum of S9,360,000.
1.-The gross earnings taxes on rail-
roads during the past five years, be-
ing the years 1928 to 1892, inclusive
have amounted to $31 1868, O56, or an
average tax each year of S6,273, 811,
that being 5 per cent of the gross
earnings for each year. In order
that the railroads of the state would
bear a burden equal to other prop
erty assessed at one-third of true
and full value, it would require a
gross earnings tax of 7.46 per cent
"The valuation of the Minneapolis
Street Railway Co. by the Railroad
and Warehouse commission as OF
January 1, 1888, was $27,54S,6S7, and
of the st. Paul City Railway Co
S16,932.424. For taX-making pur-
, poses, the Minnesota Tax commits
sin figure, as of May 1, 1882, was
S11 ,O71,365 for the former and only
80
full and true value of the properties
with the exception of a small lOca!
. real estate value. In other words,
the full -taxmaking valuation is only
slightly more than one-third of the
rate-making valuation.
I'm order to secure more industries
and bring about the local manufac-
ture of farm products and other raw
materials produced in Minnesota
cheap power is necessary. To secure
this the people must own trans
mission system connected and inter.
, connected with the available source
of electrical energy. A network oil
transmission lines would make cleo
, trical energy available to every city
!, and village at low cost. Power car
, be secured from the many dams now
, built or to be built on the Mississippi
river.
: MANY municipalities within the
state of Minnesota own and success
fully operate power plants. Cities
towns and villages now or hereafter
4 owning power and light plants
}, should be permitted to sell electric
current to purchasers thereof beyond
} the boundary lines of such cities
0 town and villages, so that farmers
D and others may have the benefit o.
0 cheaper electricity.
: "The question of public utility
e operation cannot be permitted to drift
e along indefinitely. Private control
: operation and ownership have proven
e unsatisfactory to the public, which
# has been made the victim of higf
finance and corrupt business prac
e tices. The problem must be tackled
e and tackled vigorously, without feal
n of being branded by isms of any
g kind, especially isms created for nj
: other purpose than to defeat the
r things that are of interest to the pub
n lie"