The herald., 1893-08-10
WARR|NG FORLOW ASSESSMENTS
Lively Times in the Board Of
Equalization.
1t All Arose Over the Bank Of Ameri-
cas- Petition.
Mr.. Nickel, Cashier Stewart and Judge
variel Have Discussion Pune
tuated by MIR. 0affey-Pe-
titlOns Presented.

n Woruy war rageQ aC the 6e6elon OF
the board Of equalization yesterday
morning. The principal subject of dis.
cussion was the petition of the Bank Of
America of this city asking reduction
OF its assessment from $50, 600 to $737.
A motion was adopted favoring the
reduction. Then the heated dis
cussion began. Mr.. Nickel said he
thought the banks Of the city were not
paying their just proportion of taxes,
and said he was OF the opinion that on
March 1st, the bank in question, accord
ing to the statement of Cashier Stewart,
had no funds. The point of discussion
seemed to hinge on the suspicion that
the bank had changed coin for untaxa.
BILE currency for the sole purpose Of evad-
ing taxation.
Mr.. Stewart, as we'll as the other
bankers who were cited, said that no
currency had been secured by the bank
except legitimstely and in the regular
COURSE OF business.
Mr.. Gaffey remarked that the tone of
Mr.. NickelPs remarks would indicate
that he, Nickel, had accused Mr.. Stew
art of falsifying.
Judge Variel, attorney for the bank,
then arose to enter his protest. He be-
gan long statement on points of law
and illustrations dating back to the days
OF old.
Mr.. Nickel told the attorney to con-
fine himself to the point and not deliver
a curtain lecture. The attorney agreed,
and stated he thought it was not right to
question the solvency or insolvency OF
any bank without sufficient cause. This
sort OF thing was kept up for quite a
long time.
The matter came up again in the
afternoon when motion for reconsider
alton was carried. Immediately a mo-
tion was adopted continuing the further
hearing until today at 2 O'Clock. 80
The city attorneys advice was sought
on this and other assessments, and he
presented written opinion on them.
LOS ANGELES SAVINGS BANK.
The petition of the Los Angeles Saw
ings bank came up and was disposed of
by motion being adopted that the
$22, 900 assessed on premiums on gov
ernment bonds be stricken from the ae-
sessment roll. The remainder of the
petition was denied.
FARMERS AND MERCHANTS BANK.
The petition of the Farmers and NJ er-
chants bank protesting against the as
sesement of certain bonds came up. A
motion was carried that the petition of
the bank be denied. This motion was
amended by motion continuing the
!, a a ripo I'll xodou 9 oJo1naH
MAINsTREET SAVINGS BANK.
The petition OF the Main-street Saw
ings bank was denied. Afterward re-
consideration was made and motion
adopted to hear the matter again at
O'Clock today.
THE CABLE ROAD.
The petition of the Pacific Gable Rail-
way company asking a reduction of its
assessment by over $4,000 was denied
as a whole, but a reduction of $125Q was
made on the Kuhrts-stree line.
DucoMMUN's CASH.
The citation Of @. Ducomplun, which
came up some time ago, was dismissed.
MR.. sTIMsoN's PROPERTY.
L. IL OtihhOu proecutou pobitlOu
asking reduction from $50. 900 to $40,
600 on the Third and Spring Street prop.
erty; also reduction troy $40, 900 to $780,
600 on his residence property on Flgn-
roa street. He was granted reduction
OF 500 900 on the business property, the
remainder Of the petition being denied.
UNIVERSITY BANK.
The petition OF the University bank
will come up tomorrow at 2 o'clock,
when all the bank petitions will be
heard.
MISCELLANEOUS CASES,
motion was adopted to assess N. L.
Pitney for $3.50 on solvent credits.
The petition of the Security Savings
Bank and Trust company was heard. 1t
was ordered that the assessment az
premium on government bonds be
stricken from the assessment rolls.
The assessment OF Kerckhoff, Gunner
& Co. was raised $4,000.
The citation of X. Cohn & 90. was
continued until Saturday at 10 O'Clock.
The assessment of N. P. Campbell wae
raised $1,000 on solvent credits.
FOR SCHOOL PURPOSES.