New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-01-27
promin,nl bindings, cOmQIeted IN NewN0TA City !
rNlAirIlnNs OLE BONDS AND MDLTHAGES.


Tie say: I'VE learn from the resolutions Of
the Chamber OF Commerce. from petitions 10 the Lecisls-
tr and tie opinion, OF the press ana ~ ndyld-
uis of large influence in financial circles, thai the people
Of the Git OF NewYOrk desire tEat all bon 3 and mort
CAGES should be exempt from taxation. We would Ss-
grst that Legislature allow the expo lnrlt 10 Oo
made IN that ct az tne belc There s.n' {" De atnot
nh eraa lnat such eNeInp.ion wohd az t'T mtans
of iuri casing In. Improvements oa real csiaie
~ all parts Ot tHo city, ant OF causing
many la..e capitalists TEo ha,s sought homes
elsewhere, T. return ag,in Ia order 10 coh 'ns,;e
the tax ayers Othr portions of Ia state by r'"n 81
.trl, lrsisst,on nf,cirlg bonds ami morn Jgs 10 bo
city. the state may impose tax, Tor st..c purposes,
i5 a.r nr,nc,tv t,onl which the cy derives Income
The incomes for the year ending Aus 80, $50, nv A.
MARS by the report ut the tOutgol az O te ciy Hds
,inal.- az r3IGii47L We can see no cool and sufi-
rcLt reason why TINS large amount OF property heeaiso
II IL owned H. the city sOud escape tx Tor state iuc
.s, ltis property from which income Il derived "a,
sn.c az il il wac owned by persons Il owned by pri-
,aIe l.lsons, II would oil pay city ana state tax
lRRI GUIARlTIES IN ASSESSMENTS
The asecssois call attention TO te Irregularities In tho
present system of assessing railroads and urge TIA:
ass s,menjs railroad companies should Lot bc left ID
The uniformed Judgments Of several hnniscd local
S.essors and that 1t seems unjust TO require railroad
which Is not paying running expenses a. pay taxes IN
the same proportion prOni"bo road Ibry Sugsest
that the iT DC 10 aiohdeI -, u require lhod - ana
al other mcorporadon~ to make returns 10 the Controller
ON which The mlsnt be based they say igy ha'e
.iud ia Oi Tie Giles AMI towns V la. state li.s.
tie Shares 10 National hanks ssal g. tie oanS
and not To the Shareholders" THs ~ al wrong. ~
bauk its mcofpVHted capacity can Ia 3sscs3'd "bY
real estate. IL can not Dc assessed io any Ss.Ne
or lor the value OF aay siares. OF TOR ANY surplus
THO RULES on yALUAT ON.
In inviting the attention Of the Legislature TO tie iaet
that two racs q. assessments exist IN abd onlsic OF
Nrw-YOrl CITY, the ASSESSORS allo 10 the Suggestion OF
the Tax Commissioners, that re estate BE- assessed ~
6o uer cent of It's nominal price ~ value, aud ass
=, b.er tni, WAS the value at which the Legislature M
,nd.d n should BE- assessed when n declared maj II
hui he AS. rssrd az tie rate cor wuich II wOd under
urduary circumstances sell. -,
NJ aggregate wealth OF corporations AMI associations
rnnll Tor variuns business rp Oscs does ~; main
t.in M, inst and equal proportion OF taAuS. ihe great
In1 of IL xaOn Is packed upon real estate. IEcre IS no
hJinr place for thls. Capital In corporate bodies
r.uur,s more police care, employs more time ~ courts
AMI iIics MAINTAIN OF enforce rgnts, ANA Ia Suau
mem the profitable 'ymcnt Of their property thah
do the owners and occupants OF rra estate AZ an M
stance the aSscsAors give the foowing tDle shONins
the condition JOINT stock tire aud fire marine M
surulcc com pdnies "a New Io.k Ia Dec:moer, 1919
Paid nal u'2gg,'V-g
Surplus h,ia lee. i1,ltlO'o
Capital marine nsui ance cDinpli o. '.-- 5'0v.'V
Net surplus scrip and CAPT lal.......... 3H5ige
ssrip not ordered 10 lx redeemed ...... il'S'ho''
The average rate Of dividends pad stoykhoideislo
cau stock OF the joint stocs companies during Tue wear
1874 was - IA aud tho average rate paid by ne MAJ mo
companes was 7o3 The amount 81 nc Anu ~
snran,e capital assessed for taxes In the etdts % New
York was less than $7ooOOOO, from tue Dest es,le
60 can make Tue total capital OF incorporated coii
X, rhc Sommss.opcrs appointed by Gov Hoffman to re-
y Tho TAX laws al $3.50, OO0 exclusive Of surplus
vi md riiual nicfis. which there Was An asssss'
ment Of about sl30o0O,0oo