Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-08-25
I'M uANI;EUs' pnorF u.


10 tho Board OF Equalization.
Gentlemen. ho undersigned national
AMI o,hor banks, in behalf ui themselves
and their shareholders respectively, re-
srortiully represent; The properly 81
and shares IN said banks have boon as-
sesstA higher thHn muuUt and other
capital no tho hands Of individual aud
other corporations. such cSccs- ui
valuation operates o. u dlsorimlnn-
ton against your petitioners 20 Tho
extent VI from - to 90 per cent Mouiod
Genital IN al! forms loaned out on tyu
csAo recently Is entirely exempted nom
taxation. Tho value ~ such muulCd
capital 4. several million dollars. Your
petitioners ur1 Informed and believe that
certain priyt banks arc assessed only
fora small percentage OF the value NJ the
capital employed la their banking hu~i-
ness. Real estate and merchandise Ia
the hands OF individuals and corpora
tons nfo also asso.sui, not at thor actual
cash value, but ut uniform nto much
lower while the shares representing tho
capital employed by your petitioners are
assessed alta rate equal to cor exceeding
ihtlr actual market value. Tho ASSESS
mont notices. showing tho amount OF as
t0ssmcnl against your petitioners aud
their shareholder. nrc hereto annexed
tui made pant Of th!s petition.
Your petitioners arc informed and he
loye that ly reason " tho discrimination
trlns. ihDm ug Aforesaid such assess
iuyuls arc erroneous ard Illegal, Your
ltiliionors offer 10 pay such proportion
dtuch assessment ~ may be- equitable
and just ~ compared with the Access
ments on moniod capital in tho hands OF
individuals, II your honorable body wall
tuaie The residue. lisuuh abatement *
uenicd itnny To necessary for your petit
TONERS TO resort to other legal stops "a
Tender nbor i've Tho auomp ed di-criml-
lation against them.
Your pet itloners ask that a time mny
le liked when your petitioners may
nave an Opport unity To furnish evidence
1.-THE ituui Of the statements heron con-
l,incd and To present other and addition.
Aieasons why they should have rusicL
Desorot National bank,
State Bank OF Utah,
nosortt Savings Bank.
ulAh Commercial a savings Bank,
ltAh National Bank,
National Bank of tho Republic,
Union National Bank,
Bank Of Commerce,
American National Bank,
commercial National bank.
~ J, 5. sutherland and Rawlins a
N'WNHloNi thtll attorneys.
JUDGE SUTHERLAND
vas then given the floor In behalf OF tn,
ahn, lie said that the greater mum
Tot The protesting banks held rea
.''Ale securities, and TO that extern
MY claimed exemption under th'
,sul'orial statutes. AS to the disctim
,uslon alleged, no said that It woulC
~ ~ eome time to hear the testimony
,nuosuso was common one, and h,
uoaght the Council would save tim,
nearing all Mt once. He set up tina
@ uanks were assessed az the pa
,lue OF their stock with the surpln
Iueu, anu ngaiust that set up Ia,
'n fhaI moneycd property general,
a, N'sessel ut considerably les. thar
~ actual value. On this WAS base,
,i' elAlm Of discrimination h0 slil
,n N Vueft was only about $4,000, UO
,''eu 10 shares OF national banks n
i,,oN''y eut that there WAS u mucl
,nt' amount I'm mortgages which wa
u."vy exempt, The Jaw lcclarel
XII 'uo.e HthfeE must not be taNu
s'.,Dl lhau mnnryed Cauilpl ia gen
uuhn IN Wow Of tho eEemutlon q
.Ih,Vuey loaned on mortgages thpr
. no,, nele very evident discrimiun
to euu ne suggested that the feur
iro6 gwen opportunity 10 present IN
nv Mn 20 the opinion Of CityAlioi
b mduse, Judge Sutherland said TIA
m,.is J' ,,i We city attorney had beol
bnpks wneh he said that rs Nationt
hanir, were prohibited by law iron
lrp,,,. money directly on real rstal
Man w. ,aty could Claim no oxemr
nrrsna,. NM ground. The Natiopl
kaUtnsi Jaw, no said, permitted Ia
Ncvss vhnks to hold mortgages
ueblh due them. and anv,pa