The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-07-16
WILL THE FIRE COMPANIES PAP UP,
There's a Chance In sight OF Avoiding tho
Local Tax This Year.

President Coleman Of the Tax Commission
| had little symposium yesterday with the rop-
resentatives OF eighteon out OF the twenty two
! fire and marine insurance companies doing
! business In this city, whose stock Is hold Ia
! part by residents. Mr. Coleman and his asso-
clates have taxed as personal property the
! stock so held. and 1t Is liable to tho amount OF
$4,000. Since 1856 u similar tax, amounting
| to $4,000, has been levied on these compa-
| MES and paid without protest. Tho tax Is con-
| sidered reasonable by tho Commissioners. in
view OF the fact that insurance business is
done in New York on SOS 100000 Of capital,
while only t2s92, 220 OF stock held by residents
is held liable for the $4,000 Of tax. In view OF
the fact that the APPROPRIATION this year for
| Fire Department purposes alone is s2lSs, 543,
and that that Is only one OF the beneficial re-
turns that the companies get President Cole
man thinks that they ought not to complain.
He was greatly exercised. therefore. when he
heard that the companies not only intend TO
for the s160.O0O previously paid. SO ho sent to
ask them il 1t was so.
tho SSGe s ns are aye b 20 6y OF
companies to relieve them OF an onerous direct
state tax OF eight Of one per cent. on the
noted the legislation ms a representative Of all
the compapies; was afraid that the bill would
Albany and opposed 1t on tho ground that
under its provisions the companies could wade
taxation Ky the local authorities. Hehastened
10 assure Mr.. Coleman that the companies had
no such intention and would do no such thing,
Attorney General O'Brien In an opinion satt
that the clause that disturbed Mr.. Coleman
would not operate to relieve the companies
from l0eal taxation On personal property. and
Two weeks ago tho Court OF Appeals, In it's
action brought by the Commonwealth Insur-
aneS Company; decided that the act t Of 1856
which 1t reduces to one half OF per cent. and
the Fire Department tax on foreign companies.
that Judge O'Brien. whose opinion as Attorney
General was opposed to II, took no part in the
case whom It was before the court OF last re-
sort.
ON this state OF affairs President Coleman
asked the assembled insurance men yesterday
to declare themsolve and cay whether or not
they would keep the agreement made for them
by Mr.. Brown, Incidentally he remarked that
get legislation next winter that would be much
more stringent. He read q letter from Mr.
Brown, saying among other things:
If Il, Ss aPs Sy ny az S
S:pt ana Sny iCr state pTrnS.e:, When scms tins
T:sS Is 5.S
press the question Of exemption from local taTation
e hat Clause Acting ON this Of
make no such aItemPs Nj Hes!d was Tie Chairman
and st NO III G SoSs,
OF such meaning as the total abolition Of local taxeG
ried ont. no claim would be made under such bill for
exemption from local taxation by the companies Of
Now York city.
But the representatives OF the eighteen COM
panies united IN saving that they know not
Brown or his agreement and that their clients
and companies had only sent them to meet the
Tax Commissioners to see what was up and that
they were unable to say whether there would
be any unwillingnesS to pay the tax or not
They thought that they could give an answer
by week from to-day. and another meeting
will be held then.