Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-25
ESPECIAL TELEGRAM TO THE DIsPArcH.i

| SPECIAL TELEGRAM TO THE DIsPArcH.i
PHILADELPHIA, May 24.-All the men,
bers of the State Revenue Commission were
present this morning when the commission
convened in the Hotel Lafayette. General
| McCamant, who was unable to agree with
the report prepared by his colleagues on the
committee, and which was read at the first
| days session, presented a report that he had
prepared as representing the minority OF
| the committee.
The act drawn up by General McCamant
is to provide revenue for county purposes
by the taxation of personal property. The
first section of General McCamant's act
provides that all personal property owned
or held either by individuals, corporation s
or companies in this State shall be taxed at
the rate of 2 mills on each dollar of the
value of the property. Under the act the
following property is taxable:
THE LITTLE LIST.
All mortgages, all moneys owing by irsolvent
debtors, whether by promIssory note. Or penal
or single bill, bond or judgment; all afslcles of
agreement and accounts bearing interest; all
public loans whatsoever except those issued
by this Commonwealth or the United States; all
loans issued by shares of stock in any bank,
corporation, association. company or limited
partnership. created or formed under the laws
of this Commonwealth or of the United States
or of any other State or Government, including
car trust securities and loans secured by bonds
or any other form OF certificates evidence of
indebtedness, whether the interest be included
In the principal OF the obligation or payable by
the terms thereof. except shares of stock
in any bank savings institutions in
corporated under the laws of the Common
Il, r6aV VVr1rta n aIn
lect from its shareholders and actually pays
into the State Treasury, or before the first
day of March each year. the slx-mill tax pro-
vided for in the twenty-ffth section of the act
entitled, "A further supplement to an act en-
titled, An act to provide revenue by taxation"
approved the seventh day of June, 1889; all
moneys loaned or invested in other States
Territories, the District of Columbia or foreign
countries, and all other moneyed capital in the
hands OF individual citizens of any county of
this Commonwealth; provided, that this Sec
tlon shall not apply to notes of issue used as
circulating medium and commonly known as
bank notes. nor to prOmissory notes discounted
by any bank, banking or savings institution.
AFTER THE MEAT MEN.
The second section of the act provides
that on and after the year 1892 there shall
be levied and collected for county purposes
tax of eight mills on each dollar of the
value of all apital in excess of 81 900 en-
ployed or used by either individuals, cor
porations. companies or associations. The
same section also provides that a tax of
eight mills shall be levied upon all butch
ers, drovers and dealers in live stock, on all
sales in excess OF 81, 900 made by them.
The third section provides that on and
after the year 1893 tax of 10 mills shall be
levied on the gross earnings of all private
bankers and brokers and all unincorporated
banks and savings institutions, and tax of
like amount on all moneys realized from
business investments made by any person or
persons, frm or corporation; provided, said
person or persons, firm or corporation are
not liable for and do not paw
the 8-mill tax provided for in the
second section of this act. Provided,
also, that no tax shall hereafter be collected
on the net earnings or income of private
bankers and brokers and incorporated banks
and savings institutions that pay the tax on
gross receipts as aforesaid, but the right to
collect all such tax that is accruing or has
accrued up to the time when the tax on the
gross earnings is levied is hereby reserved.
THE BANKS, TOO.
The fourth section provides for the col
lection of taxes from national banks or
incorporated State banks. The section
says:
'That every national bank and incorporated
State bank, savings bank or savings institution
which shall fail TO elect to collect from its
shareholders the 6-nill tax provided for by act
entitled an act TO provide revenue by taxation,
shall. on or before the lst day of April make to
the County Commissioners or Board of Re-
vision of Taxes report in writing setting forth
the full number of shares of the capital stock
issued by such bank and their actual value
When this is done it shall be the duty of the
commissioners or Board of Revision to assess
them at the same rate as other moneyed capi-
tai in the hands of individual citizens,
that Is at the rate of 2 mills on
each dollar of the actual value thereof;
that if any bank shall fail or refuse to
make said report or pay said tax at the said
time herein specified, or shall make any false
statement in said report, or shall fail refuse
by it's officers 70 appear before the County Com
mlssioners or Board of Revision of Taxes upon
notice as aforesaid, or shall fail refuse to
produce Its books for examination when re-
quired to do so, the County Commissioners or
Board of Revision of Taxes, alter having as.