The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-01-08

brought to his mind by the various inquiries made
Of the department, during the. past season.
Accompanying these inquiries Of assessors, there
has almost always been request that they might
be furnished with the pamphlet containing the
latest laws regulating assessments. No such COM
pilation or pamphlet exists. Such an one, with
some few additions, would 20 far to secure aRd
perfect the practical Improvements 80 well begun
during the past season. II is not only exceedingly
desirable that such a manual should be placed in
the hands Of these officers, but more general dis
tribution, In acceptable form, Of laws directly
concerning every citizen in the State, would seem
to be among the very first duties Of those having
the direction ct these affairs.
One Of the subjects of taxation on which infor
nation has been sought, is
RAuRoAps.-There are several considerations
connected with the assessment of railroads which de-
serve, and will doubt, soon receive, the attention
Of our Legislature. The amount expended in their
construction is already very great, and continually
increasing. The expenditure of this immense
the community by increasing the value Of pro-
property, facilitating the trade and commerce of
the country and enhancing and extending the plea.
and benefits OF social intercourse, does not,
however, exonerate it from liability to just and
sonable taxation. In what manner these taxes
should be imposed, to be thus just and reasonable
may not be easily determined. Some metho ishould
be devised for ascertaining their full and true value
Then question arises as to the nature of the pro-
perty to be assessed and where itshoud be assessed
and III what manner.
That the fair and true value should be put upen
this, as we'll as any other property real PERSONAL
stock which may have been created by the company
fer its construction the actual cost of the road
determine its value Some Of our railways are
known to be werth, and will command in market,
far more than was expended in their construction;
others will command much less How, and by
whom, then, shall their true value be estmatedl
Certainly this cannot be conveniently or sasisfac-
toriy done by the assessors of the towns which may
be int rested in this question Shall the duty be
assigned to county State ofi ,ers; shalt some in
dvidual body Of individuals be charged with this
duty shall the returns from the corporations be
made the ground Of procedure in the IN after! If
the latter, il becomes important that the law be
viewed in regard 20 the facts to be m5raced in
those returns and measure; taken to secure the
boards of assessors.
As to the kind of property to be assessed in the
respective towns through which a railroad passes,
there may be some diversity of opinion. Hitherto,
the personal property of the corporations has been
assessed where the principal business Of the COM
pany has been done.
In EDITION to money in hand, our railroad COM
panies all have greater or less sum vested in
and engines These machines are used continually
on the road in its whole length, and not like the
goods OF merchant, or the capital OF bank, in
some enc place exclusively. There are various rea-
SONS why it is practicable to dfuse the bene-
fits Of this tax among a large population, making
many towns instead of one, the recipients of what
ever advantages result from it, than it is thus to
diuse the tax on the property Of some other corpo
rations.
BY adding the value of the engines and cars to
that Of the road in making the valuation, and dis
tributing the tax on the aggregate among the
towns, 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,
deserves some thought The town or district in
which heavy expenditures in depots, or upon struc
lures ofvarious kinds, have been made, almost in
variably claims an excess of tax corresponding with
the excess fsuch outlay; SO also whore much more
earth is used or occupied on account Of the road,
an increase Of tax is claimed for that reason.
And again. when the road passes in direct line
through q town, such town will complain Of rule
apportioning the tax by the length Of the line Of
road because other localities gain largely by that
rule in consequence of the windings and curvatares
which very much lengthen the line within such To-
cality.
After some reflection on this subject, the Comp
troer has come to the conclusion that the railroads
in the State should be estimated at their 'fu and
true value, as property generally is directed by
law to be estimated; that the movable or personal
property Of the corporation sheqld DO added, (ex.
cepting perhaps, the money on handy to the value
Of the railway ITSELF and that the road thus esti
mated should be assessed in the respective towns
and school and highway districts, in proportion to
the length Of the line Of road within such or
district.
INSURANCE COMPANIES Uniform and precise
rules do Lot appear to be followed by the Boards Of
Assessors, l. srch rules are prescribed by our laws
IN reference to taxing these companies, especially
such as are conducted upon the plan Of mutual in
surance.
1t will be recoe :ted that in the last report from
this department (page 81, alluson was made 70 the
unpaid taxes levied several insurance CON plnies
in the city of New York; amounting, in all, TO up
wards Of 100000 A suit against Buffalo insu-
rance company, involving the aestons IN dispute,
as to the liability of such companies, was pending
and in progress the time the adjustment referred
to in the above mentioned report, was effected.
That suit received its final adjudication by the
Court Of Appeals during the past seasons the court
Of the company was taxable. which, in case Of in
solvency, would pass into the hands of sewer.
The opinion OF the court in this case, not having
it does matter Of public interest, is appended to
this report, marked l., 20.
After this decision, it was supposed such OF the
companies above referred to as were solvent would
Of the Comptroller. One co npany only, the Allan.
tic Mutual, did SO paying into the Treasury
sl6,9l4 u.s. After some hesitation, the other com
Ranies declined to pay, alleging geheraly, as the
to- was imperfectly argued and considered, and the
decision would probably be reversed on q more
thorough examination. The matter is with the
Attorney General, and new suits are understood to
be instituted against several of the companies
A diversity of opinion has heretofore prevailed,
as to what should be taxed Of the property. of a
mutual insurance company. Assessors are At
loss, not only whether premium notes should be
assessed, but whether they should be treated as
debts against the makers, far forth to justify
an exemption Of SO much other property from taxa.
ton. There is, within the State, vast amount Of
this kind Of indebtedness.
PLANK RoAps.-The same questions arise here
as TO the distribution of taxes among the towns
through which they Lead as n the case If railroads
The question to personal property applies with
less force; still, hese roads are multiplying ra-
pidly throughout country. the propre,y Of def
mite legal enactments concerning then, cannot oe
doubted.
MOVABLE RANKs.-A certain class Of banks
within our State, are engaged, from time TO time
in CD angling their location. In many instances the
removal Of a bank is followed by a controversy in
regard to the taxes
Difficulties also arise where bank is Withdrawing
lis circulation, and perhaps the securities which con.
sti,ute its capital from the Bank department: aud
where, constqueIily, tina, capita! or The true
amount to be assessed, is continually varying. In
both ,hee cases well as IL some others there i