The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1873-11-22
INJUNCTION

bcseged with applications for inJuncuohs u
relieve them from the enormous asscssmeh
which the state Board of Equalization ha
placed upon their property. Several sucl
iniunctions were granted last week in on
crcuit court, one or two in the Grumpy CIR
emit court, and we see the courts at Chicago
Joliet. Rock Island, &c, are besieSea VIII
similar applications, and that injuhctlons are
being granted fright and left"
8The Injunction asked by the Ottawa
Ruldinc Association to restrain the county
clerk from extending the tax assessed against
them was allowed by Judge Leland last week
The Building Association has about 9oo
shares. which, when all have maturcd, VIII
he worth 800 each, but thus far not over ten
or fifteen dollars have been paid on lhcSo
shares, and at the time the assessment was
made, the entire property of the ASSOCIATION
amounted to less than $4,000. The State
BOARD assessed this stock at its full value, as
if all had been paid up, paying no attention
to the actual property of The concern.
4 like injunction was granted the Illinois
Coal and Iron Company of Peru, whose pro
perry had also been assessed at quadruple its
value.
Judge Leland also granted injunctions IN
favor of the towns of Ottawa and South Otta-
wa against the extension of the tax to pay the
interest on their railroad bonds, which the
Supreme Court has decided to have been lille
gally issued.
And the Ottawa Glass Company, on the APP
plica,ion of Judge Cation and son as its attor
news. obtained an injunction from the Grundy
Circuit court on Monday, Judge McRobcrtS,)
restraining the clerk from extending the tax
on the assessment of the State Board against
that company The application was made
to Judge McRobcrts, because Judge Leland
is stock. holder in the Glass Company
The argument of Judge Cation before Judge
McRobcrts, to obtain this last named injunc-
ton is published in Wednesdays TriJuaea and
explains fully how it happens that all these
injunctions against the action of the State
Board are springing pin every quarter The
Judge quotes the law under which the State
Board acted, and then shows how grossly
they misconstrued it. The grave and veneer
able Judge, in unravclAg the misconceptions
of the State Board is unable to restrain his
mirth, their laundering being so gross as to
be simply ludicrous The statute itself is
fair and equitable 1t provides that the State
n ErgIn In m Of, l,,
gblc property Of the company, and then "the
fair cash value of the capital stock, including
the franchises, over and above the assessed
value of the tangible property of such COM
pany." The meaning of the statute clearly
is, that after the fair cash value of the tang.
bic property of the company has been ascer-
aimed, if it is found that the fair cash value
If the capital stock and franchises exceeds
he value of the tangible property, such eX
,ess shall be added to the value of the tang.
Die property This is fair and proper. For
Instance, ferry company may be represent
ID by $4,000 capital stock and its franchises
nay be fully worth that, though all It's tan
,iblc property may consist of a few scows
Opes and horses not worth $1,000 1t would
'e clearly unjust to tax only the tangible
property OF such company. But that State |
board, in constituting the statute, took the
words cover and above" to mean lin addition |
D." and added the entire capital stock and
franchises to the value of the tangible prop.
rty. And it did more. II held that as mon
y borrowed or owing by company
lust have bought or represent something
value, therefore the amount the com.
any owes must also be added to its assess.
tent. Judge Cation is wholly unable to re
ress his mirth at this idea that the more a
ian owes the richer he is, and suggests that
n this principle the assessment of Jay Cooke
ught to be enormous
Judge Cation points out many other absurd
lunders of the State Board as peculiar TO
leir action in reference to the Ottawa Glass
ompany, but it is unnecessary to go into de-
ills. 1t is enough to say that the action of
lc State Board is proved to have been such as
show them to have been little than a body
First class idiots"