, 1873-08-31
EQUALIZATION OF TAXES.
Tho Question Of Assessing tho Capital
Stock Of Corporations,
Attorney-General Edsall Gives Els
Opinion on the Subject.
Such Assessment Declared TO Be
Within the Purpose Of the Rev.
enue Law.

enue Law.
Special Dispatch 10 The Chicago Tribune.
SPRINGFIELD, ILL.,, Aug. 30.--Aa intimatcd last
night in my dispatch, tho State Board Of Equall-
zatlon arc considerably exercised over tho ques-
tion Of asscaalng capital Of corporations in this
State. Some discussion WAS had upon tho sub
1oct todny during tho session Of tho Board, when
MIR. Miles, tho Chuirman of the Committee OH
Corporation, Hont to tho Clerks desk to be read
the following opinion Of tho Attorney gonoral
on tho yexcd question:
srkyE or In11xoss, ATTORNEY. aEsERAr'a oerzoE,l
SrIl1NaF1ELp, ILL.,, Aug. 10, 1871 /
B1B In compliance with the request contained
In tho communication Of tho Committee of tho
Board of Equalization of AssesBmontu, dated tho
20th inBt., I have considered. and herewith
stato my opinion Oh, tho following points:
First, Is It necessary in order that the
State Board OF Equalization may legally
nRsoas tho capital stock, including tho franchiseH
Of corporations rs required by tho fourth clause
Of SEC. 8, 5tnto rovonuo Law, TINT tho RtatemontH
required by Soc 80 Of aaid law should bo OBJ
tainod aud reported in tho manner specified in
Sections 90 and 50 Of said law7
Second, IN the event Of Assessors
fniling to obtain md return tho
required s,a By ssa Soc ca"
Heem proper to obtain, such statoments, or
tho Information required BY such state
monts, In order to perform tho duty To-
n5sd q asa said Board %; ,, BY the fourth ,a
Third, is it competent for this Bonrd to ill.,
Rtruct it's officers or Committee Of tho Board
to cause suits to be commenced against any AZ"
mcnts Of the Revenuo laws Of this State
The fourth calso Of tho second section of
tho net concerning assessments, go far as Ia ma
erlal to tho present question, is In these words
tor created under lilo lava Of tho State sha be yal
~ 10 ascertain md etormno respectively tho fair
ch!scH aud above tho assesscd value Of tho tangi
blo property Of s'oi company Or assoc!ationt Said
taning tic fair cash value Of such capital stock to
! may see'n Just aud equitable. ana such rulea
5npSs we@ n doo 4 not 81
aae effect is If contained IN this act subject how
eyer, to such change alteration, amendment nAy
| Board.
The statute makes 1t tho duty Of the Doard Of
| Equalization to directly value, and not nlorely
cqualzo,. tile assessment Of capital Rtoclk, i',-
| referred to i'll the statute. Tho 82d section
| OF tho act makes it Tho duty of tho officers Of
| tho corporations concerned to furnish cortain
! information which would bo worry usofnl to tho
ti,oir failuro to furnish the asme It is made tho
| duty of tho Ascossor to mako auch return OF
statement from the best information ho can OH
| tain. The thlrty-thrd section makes provision
! for laying this information before tho Slate
Board Of Equalization and concludes tllllb:
Aud snd Board ahall snluo md assosa tile capital
stock Of auch companies associations III tho unuer
provided in this act [Laws Of 1s72.l
|
claros that tho State Board Of Equalization
shall tho capital stock Of each company Or
| assocxton respectively, now or hereafter ilicor-
poratel under tho laws Of this state, in manner
heyeinbefore in this act provided Laws of
the law, the State Doard Of Equal
ization cnn mako o Wild anseHsn,ent
of such stoc's, in cano both tho corporation nnd
town and county ABaossora fail IN making anu
second 1ection Of tho act. From tho synopsis
wo lays mado Of tllo provisions Of
tho State Inv, tho following propositions
aro plainly doduciblo: FirHt-1t is tho absolute
Equnlizatto to mako the assossn,ont Of tho
capital stock Of tho class. Of corporatons
referred to in tho statute. Second
While tho. statute eutit1eB tlle Board
docs % not require the ne Board to - make tho atate
mentB referred to III Section 90 the basis Of
t!lolr assessment. 1t would be competent for
tho Doard, il they Thought proper, wholly
to disregard te7e statements h nd, in making !
derived from other sources. fhe quotation wo
haye u,edo from tho third section of tho act
shows that it WAS hointontiou of tho Legislature
that tho Board should not DO confined to any
specific means Of lnformntionin aacortalning tho
yaluo of Buch capital stock for the purposes
Of assessment but leaves it open to tho
Board to adopt suctl means to obtain the requisite
information aB may he found most feasible. Tho
AZ re $1.o
Constitution pertinont thoroto. require that nil
property subject to taxation should be fairly and
equally In proportion to it's value, so thai
Each porson or corporation will be required to
ton 70, tho valuo Of his Or its property. II my
considerable portion OF tho taxable property Of
tho 6tnto eRcRpel assessment, all undue
burden will thereby be imposed on that which
il assessed. Tho etatuto should therefore
RECEIVE sueh construction aB will mako it practie
ab1o to assess all property liable to assessment II
the failure of tho officers of the corporaaions te
give information rcquiiel BY tho statute, or over
the failure Of the Aagossora to make
such statement from the best informa.
tho State Doard Of Equalization Of tile powo1
to mike The aasosanent. then the plain pur.
po3o and intont OF the statute would ho defeat
cd. It would onnblo tho corporation to dorivo n
benefit from their own wrong. In Wow Of thcao
oonsldo1ations, it ia'ny, opinion that in eaaet ,
local AHHesBora both fail to give tho information
or statement as to capital stock Of the corpora.
tiona as required by Boo. 90 Of the act The Statt
Board is not therehy deprived of the powol
to proceed to mako tlo asBoastuoilt oi
such stock, but It may In my manner leotnot
most feasible obtain. tho requisite information
and ascertain the yaluo Of such stock and make
tho assessment M provided In tho statnte.
Sccond-Upon tho aaue grounds, tho aeco,sf
! question above stated Should be answered in tht
. affirmative.
Thtrd-Aa to tie third question, tho ntatute
authorizes suits to DO Instituted III the nan.o y
tho people of tho Blnto of Illinois on the con,
pllint ot any poraon against Assessors nil
other Qllcarh who raluao or kuowingl,