The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-02-08
Board Of supel Yisol

Board Of supe, Wilson's.
His Honor the Recorder in the chair.
FEB e-The minutes Of the last meeting were read and
| approved.
TIE coRosuRs' BILLS
The following bills Of the for the quarter end.
ing lat January 1885, we're observation-disclosures Wilhelm.
Jotsph Hilton Tor holding 100 ipquestr, 81 1906 Robert
e.m pie for holding JAG inquests, 1894; William ODon-
ns ior hodirg lt4 rqussts, COS. Referred 70 Com
Coroner Gamble made return that, October, 1853,
win the body Of Frederick j. Fuller 81 s54 81,
enc SILVER watch two tool cheats and chest Of
hg spPs wnish gave into the possession Of the Pab-
Coroner CANDLES bin fer post norton examinst Athens
| during the came peroo, was s6b
Coroner oDalnsI's bill Tor post motem EXAMINATIONS
| Coroner Wilhelms bill ,or same ssb
| Coroner Hton's bill for fame 500
Each coroner made official return of thu sga,ts
| found on the deceased persons. Referred
! COMMUNICATION ooMMissloNxp
The following comm uncation WAS received from thu
Tax Commissioner, relative 10 bill pending before the
legislature providing for the division OF traon between
the moris.ger and mortgage 10 proportion to thsu
respective Interests IN the zeal e6tate -
TAX COMMISSIONERS OFFICE, Fob. 6, 1854.
| To THE HONORABLE BoAED OF SUrERyIsORs:-
GENTiEMgN--Ws herewith enclose roa COPY OF bin
pending before the legislature of the State and which
provides the division OF taxation between mort
eager sld mortgage in proportion to their respective
| interests in the real estate.
Believing that the adoption OF the proposed Law would
conflict with the general interest Of the St.ts, and
operate with singular severity the city has
direct your this subject brisay refer
Of its Immediate and prominent consequences
The real estate of this CT probably sncornbersd
to The OF 500 COO oO, and only ha OF such
mortgages actually hello by residents within he county.
II This proportion therefore, assessed part Of the
real estate deducted tho ,atsrs or principal
fag due Il is protected from The assessments no. I'M
0ttd upon rs personal property thud hii ~
| sr forty millions be released from taxation.
The bill 10 obnoxious to other serious osjsc.
flows tnan those arising from its inevitable elect Of
hanerg the rses of taxation. very large proportion
Ct the money leaned IL this State AMI city is tom
other states and countries where tbs parties directly
"a 3D. fhq full thatrf nu.s
| come vhish they prodnce.
IT, in addition to this certain liability at hou,s the
eorgsgee we're compelled to pay abroad tax equal to
and half per cent the losnsi It would
questionaby operste aa prohibition and the immense
securities would be withdrawn and diverted TO those
States which adopted wiisr and generous policy.
me esptAM OF Europe. and ths ctzsas OF our sister
states could not Afford to submit to this double taxation
ard even residents would view with evident disfAvor
csss securities to which responsibilities attached
that could not be evaded by any cnArse OF residence or
ceLdition,
Under the existing Law, money in hand s.pitsl In
business net liable to nient when isducog the
OF incorporated companies the party appears to be
|, debted in butiness otherwise but pro-
visions c, the bill those holding securities would bs
CON PEELED to pay assessment posed wh,svsr
be their investment or &C ndition in business
It's not very clear from tbs lansusgs OF the bill
VIII Their ii would not impose all monsi Atious
Liable to sHe@msrt their capital the necessity Of
paying again such proportion Of the STOCK might be
the operation OF the act in this respect w effects
savings backs, life insurance. and mutuai mSrao In
| COH1pAnitH
held by the former class Of institutions from
TAXATION and the assets OF the latter principally invest.
Shh they gre @ The New York s
Trut Company and other similar moor no ding
trust funds under the order Of court and hus invested
would BE- sUbsct 10 taxation on the although
| exempted by law.
The co. Of New York itself which appears BY
the Comp rollers report to Own mortgages to the extent
Of 81 o00 would have deducted from interest
PAID into the sinking fund the proportion of taxes to which
tbs property aubjsctsd Even numerous charitable
societies devoted like th,t Of tss New York Fire Depart
ment Fond to the nobest poses would and their
law fioce with commendsble prudence tsr from
time to time have been inverted in these securities.
1t is unnecessary in this nuuoston to disouss tbs
apparent equity OF the proposed amendmen bscAus s
enactment would accompanied b. disAdvAn' more
than equivalent Every mans estate i In fact eSSy
mor;gsgd TO the extent OF mia ndsbs-dpes and no
be given Why ages should BE- tsd1cted
than any other debt or actual judgment
The equity extended to the Is denied TO
the magsgee for, Wills the former A. liberty 70 do.
cuct when lie the form OF ina latter
is tened the privilege OF setnos on IA, ipdeo-JEt "a
sgAnst the taxes imposed the Sered real estate,
al hough he may In rous forms doubls .,e amount
Of his loan From tfsss considerations 1t peo.fuy
submitted that disastrous consequences would result
from the passage OF the Law thruu hout the State but
especially IN this city. By divertrg both foreign ADD
Domestic capital from irveHtment 10 mortgages IL would
smhSrra,s tie borrower and by striking from the
ment IN important element OF personal property sesi
Gully enhArce ths taxation ON what rsmsnsi
The bill, the principles and effects OF WHICH We have
sossideref Is no~ in possesson Of tn COMMITTEES on
Judiciary COMMITTEES Of the Assembly
In concuson VS. take the opportunity to remind you
h bill mas been introduced 10 the L-si.laturs rsaie-.
deing the stock OF pa0ies taxable in
the hands OF the stockhoiers wherever they may reside
Since SEQ ooo LOO IL invested in the capital Of nsu-
tons Gated in this city, Of which than nall Ia
probably owned In other counties. SAss and ooautitss
the result would be- that $50 ooo ooo wouid DO
leased from assessment in this county contributing ma
tei tally 10 augment the rate Of taxation
Such legislation certainly volss the nizei prin-
and where facility for proat.bs badness
by The enterprise and heavy ouiiays Of
ezsns.
SsS D. 4 Al F6sssEs, IA. Commissioners.
VIM. J. PECK.
An act 10 amend title tecond o, chapter thirteen Of
the first part Of the Revised statutes entitled OF the As
tessmept aud Collection. OF Taxss:-
Tie people Of tse STATE OF Nes 70 k represented In
Senate and 6fiembly, Go enact as folovs-
Tie fifteenth econ OF tile two OK chapter thirteen Of
the OF the fourth edition o. the Revised sta,es
lowing vodr 81 the end said fect;op the
absl Al the time OF making thsir poa real
.sate sered oy sty mortgage or mors,s.s enter
occupants TO exist ssid property, and the
raid mortgages ia separate column In ths assessaent
roll and tbe ssme shall BIS transferred to the tax roll
,sued to The collectors OF taxes and tbs s,i oootos
sh III g-e 20 the osnets or occupants OF such real ess
paying the taxsa evi-e thereon rsctps upon pay
ment conkiDing nscrip, OF the enry upon
tax re II relative 10 said real estate which receipt
send at ths time cf mIkitg any aen inte Or
On account OF principal upon any such rsorty.ge sh,l
ente the occup.rt OF said real sst,e 20 Be Al.
lowed 10 payment aach yaortgsge prorAts propor
op OF said taxes sAii mortgage or mortgages thAu
bear to the assessed value of ssia ogaQed pre ises
snd all suoh rgsgss thsi be exempt from Alssss
or taxation in any other mAnner-so that the aecuon
a. amended. shall read as 70 low -
Sec 10 All real and psrsonI estate liable to TAXATION
sha be eftmAed and assessed by the st its
full and tue value as they would appraiss the 10
payment Of just debt due frou, solvent debtor and
the sesscra nba ~ the tims Of mailing their
\ ment upon all real Estate epcumbred by any mortgage
enter the amount Of any mortgage mort
ges Ecdred by tie owner occupant 10 xiss said
property, ard the zane or names OF the persons holding
owning raid morgsgss In separate column Ia the
iessnent roll and that the shall be transferred 20
the ~ roll stud to the colcsr OF the said
collectors sba give the owners occupants sucn real
estate paying the taxes levied thereon eipt uron
such payment containing transcript the entry