, 1866-05-22
ASSESSMENT OF NATIONAL BANK
STOCK,
Circular Leaser ffsaa she rsa4as Auditor
.

=, . :. :. {Ksuu Tho sp<nEasd JassnaiI
The following important circular letter has
ocen addressed to the Revenue officers Of tha
state Of Illinois by the Hon. O. H. Mincr,
Auditor OF Stale, IN reference to tbs Assess-
ment of Stock In National Banks. Il will DC
observed that the Auditor under tho dec1s-
iuna Of tho United Staten Saeene ConrtA and
Of the Illinois Supreme Court, not
only that stock N National Banks should
BE- assessed and taxed for tho present
year. but" also, under The Revenue
Laws Of Illinois, for the years for
which they hare oeen omitted. This will
reduce the dividends Of quite number Of
OF them have paid local taxes under the i'm
preston that they were by law exempt:
STAT. Or Tsn Z oxSgseA
:. Your attention Is hereby specially directed to
the fubtst ct the 1syes sment Of shares h thu capt
1al stock Of Hatlonai banks, md the collection Of
preme Coafa Of the United States. tho liability OF
trch sharrs OF stocA to ~ ta1et BY and und~
state authority ha. bsen cstah'.shed. and = tuhst-
declares The SANG 10 b ia1ahie under tbs hTs Of
~ Sat- of1ll1nots. IN view OF these decisions. It
Becomes tne at7J = sseeseHas II -e5sEap NH tstt
VsfEt Of all moreys Invested Ia such 4hares In her
fepecstre countie. or iowa be listed By OF 70 tha
oEnefs lhefeot iof ta1aEon> md 10 euie1 tho
tsme oa me assessment l:s:s Q! The souuy, town
III.
When tuth fh1res arc 70 assessed the County Cierf
should extend aRatnst the yslue OF tha SANE
state. county md other taxes. at the ssme rstes
az nay Be extended against the value OF other
mope1ed espi,al or personal property as*cs:ed In
such county, town o. district
Fer tie purpose Of ofascertalrlnE the ownership of
shares the assessors should appy to The prtaIdenf
OF csahieT OF any hank or banks IN their tespec ya
counties CT loWns for III examination OF the List OF
naMts and Residences OF tho shareholders Of such
list ts required by the national banking law to Be
kept b5 TIE president and cashier Of Ill national
oanks and as. ov the came Law. .arheet to tha n
kpecnun of The Officers authorized TO assess tatpa
under anfhon }, during bu.ness houfg Of each
shonh TIE o65ce1s Of any bank rcfise to alinW The
assessof 10 inspect such list it IS requested tht it'd
tact be at once communicated to this office in order
that surhrefn:a1 may be reported 70 the pfppr de
~ ms,. nn,s =. Washington aud the requisite mtofm.-
1t Il presumed that In some instances eh.re. of
ttock now known to have been .axable wore omit
ted ttom the Assessment or former fe1es: In onv
asd al trch e1ses it becomes the uu1Y OF County
Clerks TO enter tho same Or the tax lists Of lhe
cu1nnt year In The enames OF the then owners there
sanc rates and amounts Of State, eauuiy I'M ;;:nsr
h ,ases a. Would hare hetn charged had such sasres
va used N and for the year. 20 omitted. (Sce
sectlont and u, pp 81. 10 Pub. Lsws Or I55I
such hsttng for back taxes ehould be INSIDE viii
s Telenee 70 sas Ownership and vaine or tbs
years In which listing was omitted, and the Stafe
nxes charged thereon should be reported 10 this
o1lee In separate amounts for each year 50 CHARGED
al the efnc tine that other assessments nre re.
ported Il is hoped that all rereuue clIlcers viii
inlallnent Of the duties pointed ont herein. tsA
very respectfully, OHr1y q. MINER,
Auditor Public Accouutp