Evening journal., 1893-04-21
STRUGGLING SOLONS.
Catch-as-Catch-Can Wrestle
at the Capital.
TAXATION THE ABSORBING TOPIC.

mittee ON Revised statutes-stin Far
From Satisfactory Adjustment Of
the Matter.
Star Correspondence Evening Journal.
DOVER. April 81 The enlarged
House Committee on Revised Statutes is
still struggling with the subject of tax
alton, but 1t seems to be as far of from
satisfactory adjustment of the matter
AS it ever was The Fulton Farmers
Institute bills have been shelved and the
students Of taxation are now revelling in
new fields.
Yesterday afternoon the committee
met and received a substitute bill which
Tax Commissioner John B. Pennington
and J. Alexander Fulton had drawn bv
order of the committee.
IL provides that In addition to real and
personal property, all investments. pay
ing interest or yielding an income. shall
be taxed for all county and school pur.
poses. II includes ali bonds. MORTGAGES
and stocks Of every kind not herein ex-
Pressly excepted. All judgments, recog-
nizances and decrees. All promissory
notes, due bills and certificates OF in
debtedness Of whatsoever kind or nature.
except such as are given in good faith
for goods sold and delivered for such
notes as may be given for short periods
IN the course OF business and not used or
Intended IS investments All contracts.
articles OF agreement aud alienation
bonds, bearing interest, or where the
interest Is included in the body thereof.
All interest bearing loans TO any person.
firm, company partnership, limited
partnership, bank, banking association,
corporation Of whatsoever kind, whether
doing business in the state or elsewhere
Payment Of interest in advance or add
ing it TO the principal shall in no case
exempt the lender OF creditor from the
payment of the tax
The following are excepted and ex.
ciuded from the operation Of this act
All loans and evidences of indebtedness
Of the United States Of the State of
Delaware, OF any Of the counties thereof,
Of religious or benevolent associations
whose real estate is by law exempt. and
OF such other securities as are now ex.
empt from all taxes by express provis.
ion Of law and also such loans as are
made to local manufacturing companies
where their real estate is expressly ex.
empt by law.
IL is the announced intent and purpose
OF the act TO assess and tax all classes of
property therein named, wherever the
same may be situated, owned or held.
whether in this state, any other state.
territory, District Of Columbia. foreign
country OF government whatsoever. and
whether the same be held as owner. or
in trust for the owner, by someone act
ing Ia q hduciary capacity for him. such
as an executor, administrator. trustee.
agent, attorney in fact, de 5ositor; and
the returns required, shall expressly and
distinctly show where the same Is stu
ated, owned or held, and also who are
the owners, and in whose name the same
are held. And when such returns are
received by the assessors from the tax.
ables they shall be arranged alphabet
cally and be included in the list of the
other taxable property.
For the convenience Of the assessors
and taxpayers. as well as to insure fair
and uniform assessment Of this kind Of
property throughout the state. the
state treasurer shall, at the expense of
the state, prepare and furnish suitable
blanks on good paper Of uniform size.
and in sufficient quantities for the listing
of property taxable under the provisions
Of this act These blanks shall be de-
posted with the several clerks OF the
peace, for the use Of the assessors Of ali
county. school and municipal taxes.
respectively. They shall contain proper
heads for each class, with convenient
and sufficient spaces for a return OF
each, which spaces shall be filled up By
The taxable when presented OF left with
him by the assessor or tby the assessor
on the information and at the reQuest
Of the taxable.
All mortgages and recognizances whicl
are specific liens on lands shall be as
sessed and taxed in the county scboo
district, or other division in which the,
may lie and for the benefit thereof: am,
the other property named In the act. II
the county, school district, or division n
which the taxable resides, and for tn
benefit thereof. and where the same farm
or tract Of land lies in two or more hun
dreds, or districts, the whole shall b
assessed and taxed ia the one In whicl
the principal dwelling house or mansion
is situated.
The president and cashier, or the pres
ldent and secretary of all banks an
banking associations and Of all othe
corporations and associations liable [
taxation, in this state, shall on or befor
February 1, in each year, make thei
respective returns TO the state treas
urer. in the manner in the act reouire
showing the whole number of shares Il
said bank or banking institution or othe
corporation, and the market value of eacl
share, and the aggregate real value o
all shares with the names Of the owner
and the number Of shares owned bv eacl
respectively; and when this is done th
state treasurer shall compute, and ascer
tain the aggregate amount Of all taxes
state, county and school, due and payabl
or TO become due and payable, on th
aggregate amount Of the capital stock o
each bank and banking association. an,
transmit by mail a statement thereof, q
the president cashier, treasurer or secre
tary of each Of said banks, banking asso
ciations or corporations and reuues
payment OF the said aggregate tax. Tn
request shall be made by May 1, 1894 an,
annually. If payment be made within
twenty days after the mailing Of sair
notice, then and in that case, the sal,
capital stock shall be exempt for eacl
current year in which said return ha
been made. The tax by law now paid b.
banks shall be part of the aggregat
taxes specified and not an addition
thereto The officer paying the tax shal