Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-10-29
ARKLE'S ANSWER.
INTERESTING INTERVIEW ON BANK
TAXATION.
How Arbitrary Assessments are Made
And How the Banks May Dodge
Bouncing the Board.

Since the action OF the Board OF Com
missloners, on Monday, in reducing the
assessments of the Bank of Wheeling
| Exchange Bank and Bank OF the Ohio
| Valley, there has been much talk on the
| subject, and Assessor Ankle has been as
mad as wet hen" To get his views
/ a REGISTER representative cornered him,
last night, and said, after a few intro
| ductOTy remarks on the subject
"An attorney for the banks declared
that your assessment was made without
authority or law. Was this sou
"Any such assertion or declaration
made by an attorney would have its
weight, but law books will not substan-
tate any such charge, as the assessment
was made under sections go and 64 OF
/ chap. 20 of the Code
"What was the object of the Prose
! cutting Attorney in issuing subpRnds
duces tecum for the statement books OF
the banks?"
"To ascertain from those books the
average amount OF legal tenders held by
| those banks, and also ascertain If the
statements, as made by the cashiers,
would compare with the return made to
the Assessor, or in other words, TO as
certain if the statement OF the banks for
! business purposes differed with the
statement made for the purpose OF tax
! alton"
"Do these books expose the affairs OF
| the bank in detail or the affairs OF any
depositor?'
mo; they simply show in the aggre-
gate the assets and liabilities OF the
bank"
"Was there any desire on your part or
on the part OF the Prosecuting-Attorn
TO so expose the private affairs OF any
bank?"
"NO, sir; not on my part, and so tar
as | know, not on the part OF the Prose
cutting Attorney. The only desire was
to get at the facts and ascertain whether
or not the construction placed upon the
assessment law by the banks was in con
flict with the construction placed upon
| it by the county officers.
"Was the action ofthe Board in refus-
ing to sustain the Prosecuting Attorney
as TO the production OF the statement
books, in your opinion, prejudicial to
! the interest of the county, or interfering
in any way with the defense the county
was prepared to maker"
Eyes; the refusal of the Board 10 COM
| pei the banks TO produce those books
was direct stab at the interests OF the
county and indicated the sentiment OF
! the majority of the members OF the
| Board in reference to those corporations,
/ tha,. hai,,,, Of HING in thnga hnnl-G IN
! expose either the banks or any indivi-
dual having any connection with them
This being so, see no reason why the
banks if their returns are honest, should
refuse to produce their books"
"The statements of these banks will
! show that they have not only the whole
amount of their own capital invested in
taxable property, viz, discounts, but
! they have also gone largely into their
| deposits; and not only drawn from to
9 per cent. on their own capital, but are
also drawing the same rate on large
amount of money deposited with them"
"Did you assess the banks with any
! greenbacks or government bOndsP'
"NO sir. | assessed them with the
capital they had invested in taxable
property, irrespective OF greenbacks,
| without taking into consideration the
capital of others which they must
/ necessarily handle. The 9th section
of chap, 90 OF the Code requires the
capital to be estimated by taking the
aggregate value OF all personal property
| of the company not exempt. The state
/ ments OF the banks, showing that their
/ capital invested in discounts, was sufii-
! cient information for making the as
| sessments that were made
"YOu do rot intimate, do you, that
the cashiers OF these banks swear false
! ly as to their returnsF'
mo, Sir, they place their own con-
| structiOn on the assessment law to suit
| their side OF the case, and swear to the
/ best of their knowledge and belief that
| they have complied with the law. While
| they say they 90 not accumulate legal
| tenders for the purpose of evading taxa
| ton. yet they hold and reserve them for
/ the purpose of reducing taxation. a
| prominent banker told me recently, for
/ a notorious fact, that inst preceding the
/ day the assessment has reference to,
! greenbaCkS were a scarce article and
| hard to obtain, but Immediately after
the day OF assessment, you could get
them in abundance.
GLOW did he account for this?'
Gle accounted for it by the reason
that the banks gathered them in and
held them for the purpose OF affecting
| taxation
Are greenbacks an investment, or
can there be any Interior object in ac-
cumulating them"
mo, sir, the greenback dollar is worth
no more than dollar in any other
shape. The bankers say it is convenient
to have them and the demand for them
is greater about the time assessment
takes place than at any other time OF the
year"
care any members of the Board con-
nected with the bank, to your knowl-
edge2'
"None that know OF except Mr.. John
Frew, who is said to be not only a
stakeholder but a director in the EX-
change Bank, and who was elected to
such position after he became member
OF the Board Of Commissioners"
"Did Mr.. Frew vote to release his
own bank?'
1 rs Sll NiIt ttNN anu NNlb
called and he put his vete where it
would do the most good, not for the
county or tax payers but for the banks,
and voted to release his bank
from the assessment made against it,
and the vote being TO >, the vote OF Mr..
Frew decided the issue against the coun-
" ana in the interest of the banks"
"Mr Schultze was absent-hOw would
he have voted 2
81 believe from what he said to me
before and after the meeting, and also
from the resolution offered by him at
the previous meeting of the Board, he
would have voted TO sustain the Prose
cutting Attorney in his demand for the
statement books, believing, as he did,
that the banks should have no objection
to producing their books if their returns
were properly made. He also said he
wanted a fair, square deal, and If it was
found the banks were in error and had
abused the law, he would certainly vote
against them"
a. for aS tho cpunty's finances are