New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-02
A JOINT HEARING ON TAXATION.
WITNESSES OPPOSE DISCRIMINATION AGAlNST
CORPORATIONS, AND SAY REAL ESTATE
SHOULD BEAR THE MAIN BURDEN.

WITNESSES OPPOSE DlSCEIMlNAIlON AOAlNSA
CORPORATIONS AND SAY REAL ESTATE
SHOULD BEAR THE MAIN BURDEN.
Albany, Feb. 1.-The Joint Legislative Committee
on Taxation continued its investigation In the Sl"'c
Chamber this cvciIng me first witness called was
William II. Parsons. Of New.lcrk CITY, Vce'rr'>'otH'
OF the Ncw.York Board of Trade aid Transportation
and chairman OF the committee on taxation OF tha'
body In answer 70 u request for his Views on
taxation Mr. Parsons read resolution adop'ei ny
the board December IA. urging that t'e poc! vi
the state should be- rather 20 attract than 10 T'Pi
business organizations ana thnt to TINS end corpora
tons should not be subjected TO greater taxes or more
inQuiS!iOria examination t1nn ines VI pusih''" '"'
ried on by individuals.
NJ. Parsons dwclt upon the importance OF the
commercial Interests Of the state TO the states pros
pelitv lie said he was president OF four ihahuac'u
ing corporations gear AGO II had b'rh Hccdcu u
change his pa,or manufacturing establishment MO
n corporation. the incorporation had been eheceu
under the laws Of Maine. because under the new
York laws the responsibility OF tho incorroratorS was
greater and the tax larger than under the Maine
laws
&; Waldo smith president OF the Wholesale HroccrN
Association and a member Of the Ncw.f0rk state
Board Of Trade. read resolution passed Oy 'he
state Board at last meeting In Albany protesting
against the proposal TO lower the legal raj" OF IN
crcst 10 per cent. lie favored the repeal OF the
usury laws and the establishment Of legal rate
only when a rate has not been agreed urh ih
his own business he had intended TO form cor
porati0n but had been advised to walt until Tue
legislature passed laws more lrnent to corporations
and had decided TO do lie thought that Only
real estate should be taxed.
Judge william II. .irnOuX, also a member OF the
New-Yorl Board Of Trade, thought that the taxation
OF private property In the hands Of individuals was
unjust and incQultable. The law was NOT iairIy
administered and ought TO be repealed lie approved
OF the corporation the collateral and Succession
and the excise TAX Personal property ~
New. York CITY, Brooklyn and Buffalo was taxed NJ
1921 coo 900. and In the rest OF the Stat" al F"'-
900 600: but by the the cattle In the state
were worth than Sl05 900 OOJ or more than the
whole taxable valuation Of the districts O!'sd" me
cities. Apart from the three forms 81 taxation
mentioned, the whole tax should be levied ON real
estate He was In favor OF the local option lax
system. ,
ms of \ "a York CIV thought that Imprisonment
for prepayment OF taXco should l." abolished, becaus"
It taS most arily the poorer cHs'es lhdcr ia"
Collateral Tux law estates were often taxed twice
once directly by the state and asan through the "X-
ecutcrs fer local purposes. p rs0nal pr"p,rN IN
New.York City paid about Onc>iXth Of the 'aN. Estates
should be letters tcstam 'ntarN are -slt
vittU. Ieeald + the residence M executors. TIA" OBJ
Icclcn ~ abo hing the personal property vas
Ina, IL would probably Jesuit In an Increase VI rent,
and this would be "a hardship 10 tenants.
The committee then adjourned 20 hcet ~ the tl'Y
Hell, H. Newlor City, at IL II. ~. OF, week from
Friday.