The morning call., 1892-06-28
EQUALIZATION.
Supervisors Close Their LabOrS
on the Roll.
Pacific Nail Steamers Allowed to Go Uataxed.
Will & Finck's Assessment Raised
TO $4,000

The Board OF SuTeTyi s0rs met yesterday
forenoon for the last time IS Board Of
EQUALIZATION. The law required that the
personal property roll be closed and turned
over to the Assessor at noon yesterday.
la behalf OF the Produce Stock Exchange
stephen Otis asked for a reduction from
500 10 $50. He said that in reality the
seats were worth nothing. The request was
denied
r. II. Lloyd made his appearance TO
answer the complaint Of Expert Dunn re-
gardng The assessment Of NJ. II. de Young.
he maintained that the assessment was too
much as it stood, as properly the Chronicle
presses were attached to the building, and
should be assessed with the realty. The
board declined to raise the assessment In
accordance with Mr.. DuDn's request
Regarding the matter Of assessing the Pa
ejfc Mail Steamship Company steamers,
an opinion was read from the City and
County Attorney to the effect thet uhoer
the decision of the United States supreme
Court the board had no right TO tax the
steamers, as they were registered IN New
York and had TO be taxed there.
motion was carried to sustain the pro
test Of the company against TIE assessment,
and the same, amounting 10 Sl'1320O0 was
Cancelled
THE MARKET-sTREET RAILROAD.
The board then took up The protest Of
Expert Dunn against the assessment Of
c21477O against the Markej-street Cable
Railway Company, which amount be claims
was altogether TOO low. Mr.. Dunn figured
thar a fair valuation would be s., 301, 800
net. He presented some figures 10 show
that the cost Of building the cable roads
was QuadTuple what IL was assessed FOR.
Deputy Assessor HeTZeT then explained
the Market-street c0mpany's assessment.
.E~H rrrfrm OF q
company is 81, $50, $50, Of which 100000 Is
for the franchise. This valuation includes
the selling price Of the stock, which repre-
sents the company's property. The total
value OF tie COmpanys property Is de-
Quoted from the selling value Of the stock,
and tie difference is assessed as the fran
chise. This rule was based on the rules
b laid down By the Supreme Court in the gas
company case, and under it none OF the
property owned by a corporation could es-
cape taxation.
Hr. Dunn's protest was placed on file.
The case Of viii 81 Fnck, wherein Expert
Dunn wanted their assessment OF S25.245
raised to $4,000, was then taken up.
Simon Blum of the firm, through bis attor-
uey, stated that the Assessors valuation
was based on bis sworn statement and was
fairs lie admitted that the bTm now carried
$4,000 insurance, but 1t was on a large
amount Of stock in unbr0Ren packages
which is rot assessable and the remainder
IS on the selling price oil the g00ds. he oid
not believe the goods could be fairly assessed
for the insurance
Deputy HeTZer said that the Assessor had
investigated the matter and was satisfied
with the assessment.
THE ASSESSMENT DOUBLED.
The members of the board thought, how
ever, that it should be higher.
Nj Burling moved that the assessment
be raised 10 500. co.,
Supervisor TabeT offered an amendment
that it be fixed at $4,000. On a vote being
taken, the amendment and motion we're lost
by TO votes.
On motion OF Supervisor Aver, the as
easement was fixed at $4,000, Supervisors
Antiques and Carpes voting no.
In the matter of the estate Of Mrs. Theresa
Fair, City and County Attorney burst sub
mitted an opinion recommending that tue
assessment on the estate be reduced by
$4,000, 10 Sl,921,5 93 He held that the
Southern Pacific bonds of Arizona held by
the estate had been properly assessed, and
that the assessment Of 1900 on the
Mackay- Bennett cable bonds, and West
Shore Railroad bonds, should be Cancelled,
rs they were not here on the first Monday IN
March. The reduction was made.
In the Hearst estate, Dir. burst main
tanned that the stock in the mines in Utah
and Montana owned by the estate should