The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-16
TUGGING AWAY AT TAXES.
THE EQUALIZATION BOARD STILL
FLOODED WITH PETITIONS.
Oil Mills and Insurance Companies
Given a Hearing-The Banks State
Their Case, But No Action Taken
The Last Day.
Taxation should be equal.
That is the intent OF the law.

That is the intent OF the law.
This is what the board of equalization is
assiduously endeavorng to regulate.
No, indeed, gentle landlord, the State is
not attempting to rob you.
All that it asks is that from the wealth
OF your lucrative property it shall receive
sufficient stipend to conduct your public
affairs.
1t is but natural that the people should
feel great concern in the levy OF revenue
upon their property. More than this, it is
quite proper that they should manifest
such concern, for, as has been pointedly
said by learned Judge, Every species OF
taxation is a species OF tyranny which peo-
pie do not freely fall in love with"
Yesterday being next to the last day
when the board OF eqalization can receive
petitions and listen to complaints, there
was If anything greater rush than on any
preceding day.
There was not an over amount OF bust
ness done, chargeable solely TO the long
winded oral arguments which followed
many OF the petitions.
As announced, it was to be corporation
day, in addition TO the consideration OF
other business. The representatives OF the
banks, insurance companies and oil mills
were promptly on hand at the opening Of
the morning session.
r Col Jules Taylor represented several OF
the banks, and incidentally spoke for all
OF them. lie set forth the fact that there
are three or four banks in the city which
By their charter pay one-half OF / per
cent upon their capital stock TO the State
each year rs tax. In conformity with
this provision there are at least two
banks in the city which pay to the State
as much as $1,000 each per annum.
Those banks would except to the assess
ment as it now stood, and claim the ex-
emption guaranteed them in their charter
But whether the banks should ultimately
resist the law or not, and while they were
not filing any objection to the assessment
in the event they had il TO pay, they did
claim that they should be given credit
for the per cent assessment their char
tiers compelled them to pay annually.
Gen. Luke Wright also represented sew
eral banks and spoke 10 the same points as
urged by Col Taylor.
The board had expected TO settle all
these corporations, but did not find time
10 reach the banks, as the morning session
expired by the time they had adjusted the
complaints OF the oil mills and some OF the
insurance companies.
During the forenoon Col. X. Dudley
FTayscr called the attention Of the board
20 what he deemed an exorbitant assess
ment of the Shelby County Abstract com.
pany, which had been listed at SO, 900.
The colonel at once started out with much
warmth of speech 10 show that the Alb
stract company, so far as its stock was con-
cerned, is perfectly worthless. Ii con-
sisted OF nothing but mere maps. pieces OF
paper with figures and dates upon them,
which ii had cost thousands OF dollars "a
collect and prepare, but which were use.
Less. O., II some one did not come along
and wish an abstract copy OF the title 70
his property.
Squire Powell throw some pretty hot
questions at the colonel that seemed IA
ncttle him no little. Finally Squire
Haynes reached over ON his desk, picked
up an APPEAL and turned to the stock
market. and then he asked:
"What is the stock Of your company
worth, colonelP'
Hesitating for a moment, the colone
replied that the stock Of the company WA
not desirable marketable quantity, ant
that he did not consider IL a. such woril
anything.
Squire Haynes-I see in this pape
that IL il quoted at 81 cents. I'd like 4
know what Il Is being quoted for, II
isn't on the market
Squire Powell SAID that II the stock o
the company was worthless, he move,
that Il be expungcd from the record
Squire Haynes would not agree 10 this
and the assessment was fixed at 2O,OOt
Squire Powell voting no.
As stated above, today is the last day I
which the board will have its doors ope
TO the public. There is still great dea
10 do, and II done they will have 10 do
in secret session II at all.
II is very probable that they will adoT
this method and finish up the work.
Yesterdays CHANGES.
Memphis Abstract company, $4,000
$4,000.
l.. H. Eaton's Abstract company, II
creased from $4,000 to $4,000.
Globe oil works, S2g, 900 TO S27, 600.
llanauer oil works, sl20,00 10 $1,000
City oil works, 1850 realty, stan'
buildings and machinery added; tota
$4,000.
The Memphis oil company, $4,000
$4,000.
W. II. Bickiord, three lots in Mint
ward, ST.. 900 TO $500.
]. J. DuBose, four and one.third acr
Of land, 5000 to 5000
Mrs. $. o. Raynor, one lot, $4,000
$1,000.
Mrs. NJ. Blass, one lot, 33x60 feet, u 81
to 81, 200.
Noah w. speers, lots and 3 on Van'
street, -, 500 TO q, 800.
Peoples Insurance company increase
from 81 900 10 $4,000.
Vanderbilt Insurance company, 5000
10 $1,000.
Arlington Insurance company, 5000
TO $1,000
II. T. Elicit estate, shelby street, $40
toS5,O0O.
Mrs. Pinson, corner Shelby and Table
streets, $500 20 $1,000.
Mrs. Sanrons, Shelby street, $1,000
$500.
Mrs. William Hewitt, lamar avon
and Raleigh road, $500 to s., 800.
WIG. SaiIrons, Pigeon Roost roa
$500 TO g., 500.
Mrs. Fannie Roescher, 50x0j fe'
south side Of Linden street, $500
5000.
w. r. Donaldson, north side OF Lind
street, 5Oxl50 feet, g., 500 10 $4,000.
Thos. ii. Milburn, Pontotoc and
Martin streets $500 10 5000.
W. d. Bethel, Huling and Main stree
increased from sl5, 900 TO 500, 600.
w. +. Hardin estate, south side Ms
street, 1900 10 s2, 200.
X. b. snowden, west side Main sire
5000 10 1880
n m n. Il