Evening star. [volume] (Washington, D.C.) 1854-1972, 1880-01-06
during the time he may have been engaged in

such business.
Transient or non resident dealers or mer-
chants shall be liable to taxation on the same
at the rate Of taxation assessed and levied upon
resident merchants, and the collector OF taxes
shall forthwith call upon such dealer at the
place where he may locate and assess his stock
In trade at its true value in money and collect
the taxes herein authorized to be taxed thereon.
The capital stock of national banks and OF all
other corporations not exempted shall be re-
turned to the assessor at its true cash value by
the president secretary or principal OFFICER
thereof, but from such valuation shall be first
deducted the value OF any property in the Dis
trict which may be separately taxed against
such corporation,
BILE for the tax thereon and the shares Of stock
shall not be liable for assessment against the
individual owners thereof.
Banks are required under oath to send to the
District treasurer the following information:
1st. The average amount of the notes and bills
receivable, discounted or purchased in the
course of business.
Cd The average amount of accounts receiv-
able.
80. The average amount of cash and cash
items in possession or in transit.
4th. The average amount of all kinds OF stocks.
bonds, or other evidences Of Indebtedness held
as an instrument, or in any way representing
assets.
5th. The average amount Of real estate at its
assessed value.
9Th. The average amount of deposits.
7th. The average amount of accounts payable
exclusive of current deposit accounts
sth. The amount Of capital paid in or en-
ployed in such banking business, together with
the number of shares in proportionally interest
each shareholder or partner has in such aSSo-
citation or partnership.
From tie aggregate of the first five items
enumerated the treasurer shall deduct the ag.
gregate sum of the 5th, 9th and 7th items, and
the remainder thus obtained shall be entered
upon the book of the collector In the name of
such bank or banks and shall be subject to tax
alton the same as is provided for other personal
property.
Incorporated insurance companies, the prln-
cipal office of which is located beyond the Dis
trict shall return to the Treasurer in the month
of April annually the amount OF gross receipts
of such agency, the losses paid in the preceding
year. The remainder shall be entered upon the
list aid be subject to taxation as other personal
property.
Railroad companies, whose principal officers
are located beyond the District, shall be taxed
upon their real and personal property situated
within the District as other property Is taxed,
and in the valuation of the real property shall
be included the tracks, which may be laid in
the District, together with the value of the use
of each street and highways P,Ocided, That
where the act Incorporating any such railroad
different mode Of taxation is prescribed, the
provisions of this section shall not apply.
Each assessor on or before the second Monday
in May, annually, is to make his return to the
treasurer in alphabetical form. He is to attach
to it an oath that he has presented to each per-
son in his sub. district a blank inventory, and
required by law such person to list all his per-
sOnal property; that the return is the same made
case where the assessor has made returns he
has sought diligently by the best means in
his power to ascertain the items and value of
the personal property, and that full list, with
the value thereof. is set forth in said return:
that in no case did he knowingly omit to de-
mand Of any person statement of the descrip-
tiOn and value Of the personal property, and
that he has returned all the original inventories
to the treasurer. In case any person. company
or corporation refuse or neglect to make a re-
turn, the treasurer, after the bond of equaiZa-
tion shall have completed their work add to the
amount returned or as ascertained, so per CEN
tum OF such amount, and the amount so in-
creased shall be the basis of taxation.
TINE OF PAYMENT.
One-half of the tax levied annually shall be-
come due on the 1st of November each year;
the other half on the 1st Of May next following,
unless the Commissioners by general regula-
tiOnS prescribe a different time.
The general feature Of the bill contemplateS
rigid observance of the fundamental principles
asserted in the organic law of almost every state
in the Union, that every person should contri-
butte to the support of the government in pro-
portion to his worth in real and personal prop
erty; to throw as little embarrassment around
the trades, pursuits and professions of citizens
as possible by the imposition of special taxa
ton. The object is to put the burdens of taxa
ton upon property and not upon persons. So
says DR., Henkle OF the committee.