The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-06-14
CAPITAL OF THE STATE.
CENTRAL STOCK ON LEASED LINES
MUST PAY TAXES.

An Important Decision by the Attor-
ney General-A Decision as to Ex-
emption from Taxes of Bank Prop
erty-The Furniture in the New
Capitol
ATLANTA, Ga, June 1S.-Attorney Cen
eral Anderson rendered an opinion to-day
which is of considerable Importance TO the
Central railroad In the return of the
road recently made to the comptroller gen
eral, it was noticed that no rolling stock on
che lessed lines was given in for taxation.
When the comptroller made an investigation
of this omission the Central explained that
their own rolling stock and that of the
Southwestern road was used on the leased
lineed and, under their charters, it was ex-
ernpt. Theicomptroller dissented radically
from this position, holding that the rolling
stock, when used on line5 not having
chartered exemption, is subject to the tax.
THE ATTORNEY GENERALS OPINION.
The opinion of the attorney general was
asked, and he advised the comptroller to-
day that the Central's position is wrong and
that they must return all the rolling stock
of whatever kind used on the leased lines
for taxation. He holds that the exemption
of rolling stock from taxation under the
charters Of the Central and Southwestern
roads is limited to such as is necessary to
operate the lines to which the exemption
applies. If they have acquired by lease or
purchase other roads not en-
titled to the exemption, they
cannot supply them with rolling
stock from exempt lines and claim exemp-
ton for taxation for such rolling stock.
This decision will catch the Central very
heavily for back taxes on the rolling stock
which has for years been used on its leased
lines The decision also effects the Georgia
road, which is similarly situated as to its
leased lines.
BANK EXEMPTIONS.
The attorney general has rendered an
other opinion which will relieve the banks
of the state of a large amount of taxes.
Section or the tax act says that no tax
shall be assessed upon the capital
of banks or banking associations
organized under the authority
Of this state or the United States, and
located within this state, but the shares of
the stockholders of such bank or banking
associations, whether resident or non-resi-
dent owners, shall be taxed in the county
where sueh banks or banking associations
are located, and not elsewhere, at their true
and full market value at the same rate pro-
vided in this act for the taxation of
moneyed capital in the hands OF private
individuals, provided that nothing
in this section contained shall
be construed to relieve such banks
or banking associations from the tax on
property owned by them, as provided for
in section of this act; provided further,
that nothing herein contained shall be con-
strued to levy any taxes on real or personal
property held or owned by any bank or
banking association, the value of which is
represented in the market value of its
shares of stock; and that each bank and
banking association shall pay the tax on its
surplus and undivided profits
The banks contend that the surplus and
undivided profits are also represented in the
market value of the stock, and the tax is
therefore double one not contemplated by
the legislature. The comptroller decided
that the act made no qualifications as TO the
surplus and undivided profits The at
torney general has decided differently, con-
strung the section to mean that the
surplus and undivided profits are not to be
separately taxed when it is clearly shown
by the bank officials in their returns that
they are represented in the market values
of the shares Of the stock
THE NEW CAPIroL's FURNITURE.
The parties having the contracts to fur
nish the new capitol having notified the
furnishing commission of the completion of
their work, that body met at the capitol
to-day, and after careful inspection of the
chapets, furnitureand gas fixtures, accepted
them. The state treasurer was authorized
to pay the bills, aggregating S70,919 80
When the treasury safe is paid for the COM
mission will have a balance of $2,000left out
OF the appropriation.
GRIFFIN AND THE COLLEGE.
A committee from Griffin went through
to Athens to-day to lay before the board Of
trustees at the meeting tomorrow propo-
sition from the mayor and council, tender
ing $4,000 for the agricultural college.
and begging its location. The site offered
is public square, on which is a beautiful
grove, owned by the city. Gov Gordon
and Chancellor Boggs arc both friendly to
this move.
An executive reward of $500 was offered
to-day for the murderer of Conductor f.
8. B. Whigham, who was killed in Wilcox
county yesterday.
At Ponce de Leon Springs this morning
an unknown negro attempted to outrage
Miss Burdette, a lady of 40 years, and
daughter of Alfred Burdette. The negro
was frightened away by the screams of the
lady and little sister with her. Officers
made pursuit with dogs but without sue.