The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1888-03-28
Letter OF Auditor Jones to President
Wardlaw.
EXHIBIT &C."
AUDITORS OFFICE,

ABBEvILLE, s. c., March %, 1885,
To the President and Casfie7 Of the National
GENTEEMENWYour attention is called TO the
laws governing banking institutions Of this
State.
tie iii, Chapter XI, OF the assessment and tax
" SEC. iss. All Shares Of the stockholders In
any bank or banking association, located In
this State whether now or neaealtef m INC nbnieorpor
or OF the United States, shall be listed at their
true value in money, and taxed In the city
ward, town, or Incorporated village where
Prouidsd, @ That the words atrue value in mon.
ey," al used in line three OF this Section, shall
be 80 construed as to mean and include all
surplus or extra moneys, capital, and every
species OF personal property OF value owned
or in the possession OF any such bank.
SEC. 199. The real estate Of any such bank
or banking association shall be taxed In the
place where the same may be located, the
SIC. 200. There shall at all times be kept in
the office where the business of such bank or
banking association is transacted, full and
correct list Of the names and residences OF the
stockholders therein, and the number Of
shares held by each; also, list of all persons,
parties, corporations or agents, who may at
any time have any deposit either personal or
general, In such bank, which shall be at all
spection of all State and County officers who
are or may be authorized to list or assess the
value of such shares for taxation.
dent and Cashier OF every such bank or bank
ing association, between the first OF June and
twentieth Of July, annually, to make out nnd
return, under oath, to the Auditor Of the
ciation may be located, q cull statement Of the
names and residences Of the stockholders
therein, with the number Of shares held by
each, and the actual value. in money, OF such
shares, together with description Of the real
estate owned by said bank:
SEC. W5. II any bank or banking association
shall fail TO make out and furnish to the
County Auditor the statement required by
1t shall be the duty OF said Auditor to exam
Inc the books OF said bank or banking associ-
alton, also to examine any officer or agent
thereof, under oath, together with such other
out the statement required by said Section,
ard enter the value OF said shares on the dup
licate for taxation. Any bank officer failing
to make out and furnish to the County Aud
statement, as herein required, shall be liable
to o fine not exceeding one thousand dollars,
together with all cost and other expenses in
in obtaiiing such statement aforesaid.
You will please comply with the law and
file statements at once, as I am now making
up my duplicate keWSPeeJtofSNllEgs ". JoNEgs, Auditor
United States statute referred to by Auditor
Jones:
SIC. 52l9. Nothing herein shall prevent all
the shares in any association from being in
cluded in the valuation Of the personal prop
erty Of the owner or holder Of such shares, In
assessing taxestmposed by authority OF the
State within which the association is located !;
but the legislature of each State may deter
mine and direct the manner and place OF tax
ing all the shares Of national banking associ-
atlons located within the State, subject only
S.ta bat Ift tln1,n
not be at greater rate than Is assessed upon
other mopeyed capital In the hands OF indiv-
idual cstizens OF such States, snd that the
shares Of any national banking association
owned by non-residents Of any States shall be
taxed in tho city or town where the bank Is
located, and not elsewhere. Nothing herein
shall be constructed to exempt the real prop
erty Of associations from either Strte. county,
or municipal taxes, to the same extent, ac-
cording to Its value, as other real property Is
taxed.