New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-01-08

tor Is already very great, an1 co,asualiy ps-e,F
. Tag The eT ,cndiiUro o. tais lnusnss css.t n
I this snrtr much - 4 may bcnchs -1nnl ~ ~
Increasing the Vaine pf property. fs1lirti.-g the
trsce sud commerce % tn cyu1Iy. and eaaag-lns
and extending tie p.eiNiss -ni bensi.s 81 s1'tL
lhterrourse. does no. ID Ncvor eK0oe l,G Z. rom
/ liability 70 jur sui reasonable AK iton. Ia SHAT
mailer these lakes should be Imposed. - - thus
Ju'' sho feasonsDc. may mt De easily csfeF II rel
some method Should Oe devised for ascer rnIn,
( ueu M snc true value. Then squss.ioa arses
as - the nature o. the n-orertv TO he tsSesse art
Were u should he assessed. and IN what manner
F Ihat the Tar aud true value should be pls uDoa
this aswell as any o.ler proosrtv res' or per,o,l
odmlis perhaps OF no serious iou5t bu. uelther the
stock which may nave been ere aleI By the Company
Tor rs construction the ac.ual cot ~ me 70 al
ce'eTmne ITS value Some OF our rail Savs sre
known 10 De worth, and n command IN m 40, ar
more man vas expended IN their conS.rg,uon 9TH
err will command much less How AM by w1on
then, sasI thei' true value ne es mated Certainly
this "a not be conveniently sans Sr.orly eone by
the Assessors Of the towns ~h,h may b.. intere,,sd
IN this question. snail the caty assigned TO Coun-
& or State officers shall some individual or body of
INDIVIDUALS be charged with this duty or shall tho
returns from the corporations be mate the ground OF
PROCEDURE IN the N Nter' II the latter, Il becomes
important that the law De reviewed In regard - the
facts to he embraced IN those returns aud measures
taken to secure the Punctual distribution Of those
facts among the Boards II Assessors.
AS to the kind OF property be assessed in the re-
s9ectiVe towns through whlca a railroad passes,
there may be some diversity OF opinion. Hitherto
the personal property OF the corporation has been
assesSet where he principal business OF the com
pany has been done
Ia addition to money on baud, our Railroad Com
panles all have greater or less sum vested IN
ard engines. These machines are used continually
on the road IN It's whole length, and not like the
goocs OF a merchant, or the capital Of bank, in
some one place exclusively. There various rea
sons Why II IS more practicable 10 duse the benefits
of this tax among large population, making many
towns nse az OF one, the recipients OF whatever ad
vautages resuk from ~ than 1t is thus 20 difuse .hs
TAX On tne property 81 some other corporations
by acCng the value OF the engine, Sua to
tina, OF the road. IN making the valuation, and dis
uloullns thetaX on the aggregate among the loves,
school and highway districts along the line. one OF
the annoying inequalities OF our system OF taxation
is avoided
The manner in which the tax should be levied, de.
serves some thought The town or district IN which
heavy expenditures in dcpo,s or upon structures OF
yareus kinds have been made, almost invariably
claims an excess OF tax, corresponding with the ex-
cess OF such outlay so also where much more earth
is used or occupied on account of the road, in
crease OF tax is claimed for that reason.
After some reflection on this subject, the Comp
trOller has come TO the conclusion that the railroads
IN the State should be estimated at their full and
true value" property generally is directed by law
10 be estimated thai the movable or personal prop
erty OF the corporation should DO added, excepting
perhaps the money on handl TO the value ofthe rail-
way itself, and that the road thus estimated should
be assessed IN the respective towns and school and
highway districts in proportion to the length OF the
line OF road within such town or district
INSURANCE COMPANIES.
Uniform and precise rules do not appear II be fol-
lowed by the boards OF assessors If such rules are
prescribed by our laws In reference to taxing these
companies, especially such as conducted upon
the plan of mutual insurance.
II Will be reoolected than in the las. report from
this dt parment, (p 81 allusOn was made TO the un
paid taxes levied on several insurance companies
IN the City of New-York amounting, in all, TO up
ward OF 100000. A suit against Buffalo FIRE IN
surance company, involving the questions in dis
pute, to liability of such companies, pending
and In progress, at the time the adjustment referred
20 in the above mentioned report effected
That suit received ITS final adjudication by the
Court of Appeal during the past season the Court
deciding among other things, that all the property
of the company was taxable, which, In case of In
solyency would pass into the hands OF the receiver
After this decision, It was supposed such OF the
companies above referred to as were solvent would
pay the sums charged against them upon the books
OF the Comptroller One company only, the Allan
tic Mutual, did 40 paying into the Treasury Slo-
9li 3d. After some hesitation, the other companies
declined 10 pay, alleging generally, as the Comp
troleT advised that the above referred to was
mperfeoty argued and considered, and the decision
would probably be reversed on more thorough ex-
animation. The matter is with the Attorney Gene
raj, and new suits understood TO be Instituted
| against several OF the companies
diversity Of opinion has heretofore prevailed as
to what should be taxed OF the property OF Mutual
Insurance Company. Assessors are at loss, not
| only whether premium notes should be assessed
but whether they should be treated as debts against
siu fuI forth as to Justify an exemption OF
so much other property from taxation. There IS,
within the State, vast amount OF this kind OF in-
debtedness.
The same questions arise here to the distrIbu-
ton of taxes among the towns through which they
lead, as is the case Of railroads The question as to
personal property apples with less force sun, as
these roads are multiplying rapidly throughout our
country, the propriety of definite legal enactnens
| concerning them, can not be doubted.
MOVABLE BANKS.
4 certain class of banks within our state are en-
gagged from time to time, i'll changing their location
In many instances the removal of bank Is followed
| by a controversy in regard 10 the taxes.
Difficulties ais) arise where bank is withdra"ing
its circulation, and perhaps the securities which con
| stiiute its capital from the Bank Department and
where, consequently, that capital or tho true amount
TO be assessed, is continually varying. In both these
cases. as well some others, there is an uncertain
| ~ as TO tle precise time when the bank becomes
legally chargeabe with the tax.
Whether the Sd Tuesday in August, which, by seq
ton of the act OF 1851 is the termination OF the
time the rolls LEFT for examination IN
the hands of of the assessors or some day there
after when the assessors, under the 5th section OF
the same act, shall have completed their roll, and
made and subscribed the oath required or the day
Oh which the supervisor to whom The Toll mas Deen
delivered, shall dispose OF the same a. directed IN
sec "a, p Az X. =, still later, when Me super
vsofs, as required IN sec. 81 p i4s H. 8, shai anx
their hands and seals 10 the warrant, Is TIE exAc!
point Of time when the tax may be said 10 attach 10,
or become lien on, the property assessed or
whether the boards Of assessors and supervisors
have tie night TO give themselves the necessary
space TO perfect the rolls questions not known
to have been sdjudica,ed and appear to be nosdeh'
nitey settled.
If TIE h8diRsl az
sec q, page 100 X. s., makes 1t the Comptrouers
duty 10 hand the claim - the Attorney General
who 10 required to institute proceedings before mo
Chancellor, &C. II the inconvenience OF the delay
incident TO these proceedings could be obvlated ~
requiring payment OF the tax at once, by the BANK
Department, from the securities IN the hands OF sne
SUPERINTENDENT, much Of the evil now felt by sho
counties, and by this department. would be pre-
vented or mitgated. The tax, II It should prove to
have been rrongfuiiy paid, might be refunded u
not its prompt payment will have been right and
proper
Pennies.
The owners Of these ffanChiSes, In some cases,
fisputo tho Icxat right 81 ossesS shsHn' ney Ms
no, IL euuOued By khat lssne, n the law ana may
be that axsessoIs, feeling some doubt as 70 taxing
thing so intangible, have for that reason oml'seo
thtnI Another, and q moro operative reason Is
probably 70 be found IN an assessors unwlillngaes
IL dnukt fnl faTLnl lAtiOn.