Publisher's Synopsis
Excerpt from The Taxation of Public Service Corporations
In what form, then, does the property of such a corporation exist? Taking its chief terms, it is represented by long strips Of land, expanded here and there for the location of switches, station yards, city terminals, etc. On this land is Constructed the roadbed with its cuttings, embankments, viaducts, bridges and tunnels, and these carry the track with its ties, rails, switch ing and Signal systems, etc. There are also the station build ings, freight sheds, elevators, machine shops, round houses, coaling stations and the costly city terminals and offices. Then there is the vast amount of rolling stock of all kinds and its equipment. To maintain and operate this great array of property there is employed an army of men, from general managers to porters, involving a heavy payroll. I leave out of account all the secondary enterprises in which a railroad com pany may be involved, in the way of hotels, parks, mines, timber limits, mills, lands, etc., as being not strictly essential to the functions of a railway as a public service corporation.
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