Los Angeles herald., 1890-08-13

Wldney said he desired the Assessor
and City Attorney to visit the bank
and he would show them that the un-
listed securities would cover the $4,000
which Mr.. Mcfarland wanted taxes
paid on.
Mr.. S. M. White. being present, said
that all mortgages must be taken from
the assessable values of the property of
any individual or else the assessment
was void. This was, he said, according
to recent decision of the Supreme
Court.
Judge Widney asked for time to pre-
pare an itemized report, and it was
granted.
The next bank statement consid-
cred was that of the. Los Angeles
County Bank, and Mr.. Stewart, its CASH
ier, was questioned in relation thereto.
Mr.. Stewart went over the various Sc
curities of this bank in different count
les, including mortgages and deeds OF
trust, amounting to $2S9,266. Mr.. Nc
Farland said that would make another
discrepancy, and then Mr.. Stewart
explained that the county mortgages had
been omitted from the list from the fact
that he had offered them to the County
Assessor, and he said that he did not
wish them. After further discussion,
Mr.. Mcfarland concluded that the items
had been satisfactorily accounted for,
and the matter was dismissed.
The City Bank was given till Thurs
day morning to make its showing.
The next matter for consideration was
that of the farmers and Merchants
Bank. Mr.. Miner, its cashier, was
sworn and made his explanation of the
securities of that bank. According to
Mr.. McFarland's view there were
credits of $4,000 which should be
assumed to this bank after deducting
$513, 900 of mortgages.
Mr.. Shanklin appeared for this bank
and taking up statement from MI.
Miner addressed the board and showed
that the bank had loaned money in
various places, much of it being loaned
in San Francisco, and said these
securities were taxable there.
Mr.. Mcfarland took issue with the
council for the bank as to "credits,"
and contended that all should be taxed
here. But, without reaching conclu-
sion, on motion of Mr.. Frankenfeld the
matter of this bank was continued until
Thursday afternoon at O'Clock.
The East Side Bank matter was then
called up and F. G. Howes appeared
and was questioned. In Mr.. McFar-
lands summary he had concluded that
there were $4,000 of Credits which
should be assessed. Mr.. Howes ex-
planned that he was not an officer of said
bank and was not familiar with it's af-
fairs, and in consideration of this fact
the matter was continued until Thurs
day morning.
The State Loan and Trust company's
affairs were then called up, and Judge
Gardner appeared and made a state
ment as to the assets and liabilities of
that concern; but the judge not being
familiar with the details of its affairs,
this matter was laid over until tomor-
row and the matter of the California
bank came up, and Mr.. Wilmer was
sworn and made his statement as to
location of securities in the way of mort
cages and trust deeds. Mr.. Wilmer
stated that these amounts were equal to
1852 900, which accounted for the dis
crepancy. The matter was dismissed.
The national banks having all been
granted continuances until Thursday,
Col. E. f. Hewitt, division superin-
tendent OF the Southern Pacific railroad
Company, was granted an audience by
Uue DOdTu anu dSkou IOr TeQuCClOIl
on real estate of the company from
$67, ,24O to $50, ,43O, and on improvements
from $40, 900 to $4,000, and on motion
of Mr. Summerland the petition was
allowed.
An incident illustrative of the man.
ner in which the board of equalization
transacts it's business, occurred during
the afternoon session.
Two ladies, Mrs. Mary F. Clayton and
Miss Ellen Mccarthy, appeared before
the Board and modestly asked that
their assessments on their small pieces
of property in the western part of the
city be reduced to the rate at which
they were assessed last year. Their pc
titions were denied, although it must be
conceded that Mr.. Shafer made gal
liant fight for Mrs. Clayton. The ladies
had scarcely left the chamber, however
before Mr.. s. M. Perry, of lumber fame,
appeared and asked for reduction o1
his taxes, which were assessed at $9, 800
Without any inquiry into the matter al
all, Mr.. Summerland moved that Mr.
Perry's taxes be reduced to $4,000. Tt
this Mr.. Brown demurred, but after 60
ing through the formality of looking
through the books, that same gentleman
moved to compromise the matter by
making it $6,250, which motion was
finally agreed to. This is only one O
many such instances, which occur al
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