New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-04-20
GENERAL WORK At ALBANY.
COMMITTEE AND LEGISLATIVE MATTERS.
TIE TAXATION or BANKS AND OTHER CORPORATIONS
bills INTRODUCED AND PASSED IN TIE
SENATE AND ASSEMBLY


TIE TAXATION or BANKS AND OTHER CORPORATIONS
bills INTRODUCED AND PASSED IN TIE
SENATE AND ASSEMBLY
ALBANY, April 19.-'The Governors Taxa
tion Commission and the Legislative Joint Committee
On Taxation met together tonight The Commission
ported bill for the taxation Of banks and individual
bankers including foreign bankcrs The average tax on
the amounts used in their business ia to he one-haf
OF one per cent The bill ia a. follows:
To provide for the taxation OF banks and Of moneyed
capital engaged in the business Of banking. receiving de-
posits or otherwise
SECTION l. All banks and individual bankers shall an
nually before February pay to the Controller state
the average OF all sums Of money received on deposit
lAn OF all sums employed In such banking business dur
SIC 2 They shall also file with the Cont roller, before
amounts upon which The tax il based Failure 70 comply
with this provision ncus penalty oflO per cent the
amount of tax imposcd 70 be recovered In On action TO
be brought by the Attorney General.
SIC. g. Detailed statements must he made Ia be
inspected by the Controller clerk designated by him
during business hours Of any day which business may
SIC 4.stockholders shall he assessed on the value Of
their shares OF STOCK said shares be included In the
valuation Of the personal property OF such stockholders
III the assessment Of axee ut the place where such bank
or banking association is located and not elsewhere
Each stakeholder shall be allowed all the deductions and
exemptions allowed by law In assessing the value Of
othcr taxable property owned by individual citizens OF
this state and the assessment shall not he at greater
rate than il asscsscd upon other moneyed capital IN the
SIC 3 detailed list Of stockholders with the amount
of shares owned by each shall be kept In the bank at all
sEc C TR The ocEhGaG! doe, not ,a rG.As the
Treasurer
SIC :. Every bank shall retain so much Of any divi-
dcnd belonging 10 such stockholders shall DE
Hary to pay The tax imposed.
ST. = All obligations. liabilities and taxes hereafter
Incurred under chapter 5o6 laws OF losO, shall be en-
Sc o This act shall take eject Immediately.
MI Van Coti Of the commissions said that tho mem
hcrs had Investigated taxation problems sufficiently
Ia perceive that the bulk Of this money obtained for tho
support Of the State Government should and
might be- secured from taxing corporations and
liquor SELLERS smn tax Wall street brokers opera
lions alone would bring int" the STATE S2OuooOo MI
Van Colt also pr,srntrd communication relative to the
bill entitled To provide for he equalization ~ n-scss-
m'ut and tINatiou and to reduce taxation rial rs-
tate" The Commission thinks that the burdens ~
lion cniin h U,t.u,d and that the revenues Of the
state cannot hc Increased by usofy and unconstiiu-
Tho COMMITTEE decided 10 report 10 the Legislature to-
morrow thc amended bill. which taxes the Interest
the moucycd obligations Of every village town, city and
county.
Tie Assembly at IT. afternoon session considered three
Of the commissions bill.. OF them fStcndne the
tim, for acting upon applications for Reductions OF
-cs~n,ui- IN Ncv York city from April 80 10 June -,
was pa--,d. Another b providing for the taxation Of
mllways. was referred back to the Tax Committee
with instructions 10 report Il complete Several
amendments were suggrsicd ~ little Importance. II
scoucd to Doe the prevailing opinion that. after the Tax
Committee and Commissiou shall have framed taxation
b with much care the Assembly ought to respect their
work. and refrain from making alterations until after
much consideration.
Among the hills reported advcrsl " In the Assembly
introduce improve d - stem ~ t"wagr upon
the canals hy means Of a mi~ny. Agreed 10 and the
bill WH- rejected.
Among the bills passed were the following
Authorizing property owners Ia lay ont two small
paris int Forty -ccouds between First and - C.
one. ave- New-Iork CITY.
Auirudnc the relative 10 public instruction. II
makes provision for the hpporonm'ni ~ school money
and allows women 10 vote ~ school meetings.
Requiring mining companies to make detailed quar-
tcriS statements 10 the state Engineer.
The senate ordered 10 "a third reading to-day by vote
Of > tn 10 Senator Forsrrr amendment to tia COnst
tuition abnshng tol- on the canals.
The hill enabling the Fellows ~ Yale College 10 hold
real estate In this state passed
Mr. Forster introduced hil giving tO the Board Of
Aldermen ~ NrwIork city power To strike from the
rolls the personal estate levied on therein
aud the amount certified by tho Roard ~ Eru
mate. aud Apportonment "a be raised upon the real 20
| tate In said city.
Chnrtcs Aid Association certain powers announced
for n third rradnR. Mr. Mllr moved 10 rrcoinnf II in
tho purpose ~ amendments, and made an earnest nrgu
mrut ia opposition 10 the hill -
Mr. wo0du replied faVoung the passage ~ the bill
saving that would be- forward step IN noble WORK
charity Ic said that the only Icr-un- who opposed The
hin we're mrmhcrs ~ the state onri ~ Charities. ant
their action the matter Was At The solicitation of t'
the state Institutions who DISLIKE ~ hhN
their inspected hy these noble women o the M
| A---oriatlon. Nhu cNpcud their own money III Ten
work ~ charity. 49,
hiil i taken M so O'Clock "Wednesday morning, an,
the motion carried by vote OF l. to The schnt'
/ lien