The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1854-04-19
Bank Taxation, SC.

IL. II. BARNEY,
| Commissioner of Common Schools.
| Bank Taxation, SC.
On Yesterday, Mr.. MoRGAN, Auditor oil
State, in response to resolution Of the
Senate, sent to that body report show
ing the condition Of the various banks oil
the State, the dividends for the year past.
the taxes assessed and unpaid, &c. The
report develops some rich facts, which.
when it is printed, will make bank advo-
Gates stare.
For instance, the Athens Branch, which
commenced operation less than six years
ago, on a capital of $50 900. (subsequent
ly increased to 800. 0.OOO,) has within that
time divided, and has on hand, in the
shape of undivided profits, ST., 7,24l 81
lass year twenty per cent.-just double
the amount allowed the private citizen by
law-with $8.23l Sc still on hand to di-
vide. With these heavy earnings-while
thus making money hand over hand, as
only bankers know how to do it--this
bank refuses to pay its taxes. amounting
to $4.974 SO, assessed in 1853. That
is the first bank in the list. sa
The second, the Akron Branch, shows
a still more fragrant instance of the utter
falsity Of the assertion that bankers do
not make money. The Akron Branch
went into operation in 1845, with cap
ital Of $4,000, which, like the Athens
Branch, was subsequently, increased to
100000. During the year past. this
bank divided go per cent, on its capital.
Since its creation at the close OF the year
f845, it has absolutely divided, or has
on hand, in the shape of undivided pro-
fits, 1886. 900, being $4,000 more than
its entire capital stock at the time it was
/ largest This bank. like its twin brother
of Athens, Notwithstanding its heavy and
enormous profits, refused and still refuses
to pay its taxes for the years 1859 and
1853. as Niae nox'
The Muskingum Branch, at Zanes-
vile, commenced business February l2.
1848, has capital Of 800, 900, and8du-
ring the year divided ss12 ,OOO-or l2 per
cent on its capital, leaving $i7.655 e38
Of undivided profits in the bank-making
over t,oenty- per cent. during the year.
In less than six years which this bank
has been in operation, it has, after pay
| ing all expenses. deducting bad debts. &C.,
4 divided over seventyfv per cent.-and
yet it refuses TO pay its taxes, and char
4 ges that the Democracy are preventing
} bankers from making an honest living!
I The Chillcothe Branch, which only
divided 12 per cent on its capital stock,
amounting to O,OOO. still keeps in its
vaults $21.746 Al Of profits undivided
: Since the institution commenced busi-
ness in l845, it has made. by loaning
, money and otherwise, 1888, 1856 2l on a
} capital of 100000 at starting. but which
was subsequently increased to $3.50, 900.
It too, Notwithstanding these enormous
profits, refuses to pay its fair proportion
Of taxes to the support of schools. the
payment of the State debt, &c. sr
These immense dividends, il will be
} borne in mind, are clear net profits, after
paying all expenses Of house rent, sal
, aries Of cashiers, tellers, presidents, por-
ters, &c.
When the report is published. we will
give full synopsis OF its contents.-D Dem
. Acc1DENT.-Y Yesterday, at the Hemp6eld
, Railroad tunnel, at the eastern boundary
. Of the city, a man named Peter Daily, a
( quarryman. after having waited several
minutes for the explosion of blast, ap.
preached it, thinking that the fuse had
r burned out, and was instantly thrown q
Q distance of at least 100 feet over the cliff
j. toward the shore Of the creek, and, strange
TO record. is likely to escape with his life
r Dr.. Campbell, who was Immediately call
!. ed. says that Daily's clothing was literally
8 torn from his person, one of his hand.
9 badly shattered, and his head, body ant
limbs cut in more than twenty places
!, One OF his eyesis destroyed, and altogethe
, he presents most horrible appearance
: : The escape from instant death was Ger
: tainly almost miraculous. tseems to us
', that too little time is allotted for the ex
= plosion of these blasts, and that culpabl,
!, temerity is too frequently manifested in ap
: preaching them. We have frequently o
iatssbeen compelled to notice accidents o
this nature in our vicinity IHheeliug Ar
e gus, Of Friday. -
3 or Jonathan Harrington, The last sur
& vivor Of the Battle of Lexington, died a
y Boston. on the 26,h ult. The Legislature
e the Militsry, and the Masonic bodies at
st tended his funeral, 3Stf