, 1873-09-13
THE STATI: CAPITAL.
Developments In tlo Harper Dc}alca-
ton Case.
Twenty Thousand Dollars In Penalties
Allowed TO Go uncolIected.
Rule Adopted by the Equalization Board
for Assessing Of Corporations.

SPRINGFIELD, ILL.,, Sept. 12.-Thoro arc no
now developments In tho Harper dofalcation,
eayo that cortnin penalties which 1t wna his duty
to collect, and by renson Of not doing 30 nado
himself liable, have boon discovered. tho aggre-
cato amount Of which ia about $4,000. sutt
will be brought against Harper's bondsmcn to
rocovor tho amount in addition to tho $4,000.
Mr. Yaryan Is Rtill engaged In m examination OF
tho boolH md Vouchers Of tho ofi!co, mud will bo
able to give tho exact figures Of tho defalohtion
before many dnyR.
opinion Of tho Board that the property
Of tho 8tato Ind beon heaessod at Go
per cont Of It's value, md the amend-
mont thereto otforod BY Slr. McCabo that
1t had been assessed at 75 por cont Of Its valuo,
tho tablo. Tic adoption OF this resolution WAS
intended to sottlo tllo question Of corporate
hsBossnenta in this, that If other properly was
aaseBsed at but 05 por cent Of its value then In
equity aud juBtlco should corporations be 30
aaseBsod. It looks ns though q higher per cont
will be Hottlod upon tho basis on which tho
property Of tho btate has been assessed than
either Of tie proportions embraced In the rcao-
luton.
Tho following preamble and resolution. offered
by Mr.. Miles aone days ago, wore adopted:
WHEREAS, Tho fourth clatao Of Section Of m net
or S Of ab II tor ,ss tns ls arc
fsEo71oN3 j. Tho capital stock Of all companies mud
associations or hereafter crcaet under tho law Of
this State shall be valued by the Slate Board OF
Equalization as nscertan and determine respectively
tho FUR cash value Of Buch capHl stock, including tho
franchise over snd above tho aaseRaed valuo OF
association. said Board slal adopt such ruies and
principles for ascertainiug tho fair caah value Of such
capital aock as to may seem equitable anu nat anu
sc rules and principles when 30 adopted If not con.
sa @ s IL ae sauoe Il
ever to such change, alteration amendment ~ Hay
be found from uuo to timo to be necessary by said
Board provided, that In all ca#es whore the tangible
properly capita stock OF any company or asaocn.
tol is ascsscd undor this net tho sharoa Of capital
aaaessod or taxed In this State. This clauso shall moi
amply to tho capital atock Of banks organized undo1
Therefore, b. It rtsoired, That for tho purpose o.
ascertaninR tho fair cash value Of Tho capital stock
Including tho franchise Of NIL companies and sesoc1a
tions now hereafter created under tho laws OF th
State and for tho assessment Of tho samc or 80 1nuct
thereof 1ay 10 found to 10 In Of tile asHeasot
cqualized value Of the tangible property Or stel
companies and associations respectively, VIC, the stat
Doard Of Equalization, hereby adopt tho followint
rules md principles, viz:
Ftrst-The markot fair cash value Of tic Bharca
capital stock and tho market or fair cas value Of u
dobt excluding from such dobt the inaobtednsss 70
current expenses, shall bo combined or added tt
geter and tho aggregate amount so ascerained sa
bo taken mud held TO be tho fair cash Vaue Of tn
capital STOCK including tho franchise, respectively,
such companies md associations.
seeond-Frofn the aggregate amount ascerta1ned
aforesatd ticro shall be deducted tho nggrcga'
amount Of the cquallzcd Or assessed valuat!o
Of NIL tho tangible property respectively Of euc CON
lanteB and associations, B'irl eciazed or aBsesae
valuation being ialcn In eac. M Tho snrnc may
determined by tho equalization assessment Of prof.
crty by this Hoard, aud tho amount remaining IN eac
case + any shall bo aken an e TO- 10 te nmo.L Y
frachiHc which this Board Is required by lazy TO asset
respectively against companies aud associaiona Ao
or hereafter cFeatcd under the aws of this State.