The record-union., 1895-07-13
MERCHANTS AND BANKERS EXPLAIN
lnterrogated by the City Trustees as
to Property Values.
The First of March Evidently Not a
Good Time for Levytng Taxes
in Some Instances.

trustees yesterday, In response TO CHA
tions by that body to appear and snow
cause-if they could-why the assess
ments on their property should not De
Increased above the statements returned
by them TO the Assessor.
A communication was received from
Frank Miller, President of the D. Q.
Mills National Bank, requesting that no
action be taken in the matter OF the
banks assessment until Monday mex"
The request was granted.
+. d. Adams appeared for Adams,
Booth IL Co. He said he could see no
reason why the firms assessment on
stock l540,000) should be increased, con-
sidering the heavy cost attached to doing
business here. lie referred to the ire
Quent demands made on business men
1or celebrations, etc.
T. b. Hall OF Hall, Luhrs IL Co. said
his firm had given in its assessment at
time when business WAS III better shape
than it is now. They were, however,
willing to pay on the same now. 1he
larger wholesale houses, he thought car
ried about the same lines OF STOCK, and
probably about the same quantity OF
goods.
ID. A. Lindley said his firm was satis-
fed with its assessment of $4,000. but
did not see why it should be increased.
On the county roll The assessment Is tue
same. The store Is open Tor the lnspec-
tion of the Trustees or anyone else who
might choose 10 VlsIt 1t and satisfy then-
selves. He had known The stock IN hand
10 tiuctuate as much as SlO.0G0 IN one day,
but the rule was to keep the stock up 10
the average. MIR. Llndley said they had
based their assessment on about 6O per
cent. basis.
p. c. Drescher of Mebius, Drescher u
Co. whose house had put III It's as
sessment at S3l, 900, said he had no idea
what other houses carried, but MS hrin's
assessment had been put in at what was
considered a fair valuation. he did not
think they carried as heavy a stock as
some of the other houses. CsualIy
grocery stocks are quite low about the
nrst or March.
q. NJ. Mott of Crocker q Co. said his
house here had put III an assessment
of $40, 200. 1t is apparently low, but the
stock carried here is not 80 large as
formerly. The firm is Incorporated, and
the bulk of its stock is in San Francisco,
and is going aud coming all the time.
The assessment put in is fully up TO the
so per cent. limit of the stock carried.
In San Francisco the company pays on
couple of hundred thousand dollars.
Manager Sent OF the Western Union
Telegraph Company said no thought the
assessment of Sl3, COZ, as put IN, was about
right. The company has some two aud
one-half miles of wire within the city.
They had always valued their wires at
$500 mile.
]. e. Pierson, manager for the Capital
Gas Company, said the assessment OF the
company is So, 900 on personal property,
and altogether $40, go.
AS members of the Board Of Trustees
had several questions to ask regarding
the number OF miles of electric light
wires, OF gas-plpes, ETC., the figures OF
which Mr.. PierSOn was not prepared to
give, AIr. Kent moved that the matter of
inQuiring into the same be referred to a
committee.
Mr.. Pierson said he understood the idea
to be to equalize things. His company
was willing to be assessed in proportion
TO other and similar corporations.
William Ingram of Schaw, Ingram IL
hatcher said his company's assessment of
SIT, COO had been put IN conscientiously.
fortWo years past they had been selling on
q declining market. In five years past the
cash value OF stocks had greatly declined
i'll many lines. They buy daily to avoid
carving an unnecessarily heavy stock
OF goods. If placed on the market to-day
he did not believe their stock would sell
at forced sale for more than the amount
of the assessment.
r. IL. Hawley, representing the Occi-
dental and Union Building and Loan
Associations, whose assessments are re-
spectively $1,000 and $4,000, appeared
and answered a number of questions
asked by the Trustees. This matter was
also referred to a committee Tor further
inquiry.
Mr.. Hickman of the Sacramento Build
ing and Loan Association said the associa-
ton has no property of its own. 1t pays
taxes on mortgages held on property. On
ba in he
had probably $500 on hand.
Thomas ii. Perry appeared for the
Postal Telegraph Company, whose as
sessment is $500. He said the company
has about two miles of poles, with double
wires. He thought it was fully assessed.
L. Il. Dray of the Sacramento Bank
which is assessed for $50, 800 on money
and bank prOperty-Said the bank was
also separately assessed on lis mortgages.
The money, ne said, represented the coin
op hand on the first Monday in March.
William Beckman appeared for the
Peoples Savings Bank, which was as
sessed for $4,000 on the first Monday in
March. On the lst of January and the
lst OF July all the banks have more
money on hand than at other times OF the
year. At these dates they pay their divi-
dends. The Peoples Bank has an inter-
est in the building it occupies, but the
assessment thereon is made in the name
OF the Odd Fellows Hall Association.
ii. j. Goethe of the Germania Building
and Loan Association said the ST., $50 for
which the Association was assessed was
correct. 1t did not include mortgages.
w. T.. Gerber, Cashier OF the California
State Bank. said the $50, 500 given IN The
banks assessment on the first Monday
IN March represents the money on hand
on that date. The bank building pays
about per cent on the investment, and
after allowing per cent. for taxes 1t
leaves l per cent. for the owners. The
bank property is assessed at $50, 500.
1.-The owners" said Mr.. Gerber, "are
perfectly willing that you gentlemen
should tx your own assessment on the
bank building, believing that you will be
fair Ii we can't maintain it, why We'll
quit"
Mr.. Sage, manager for Baker 81 Hsmil-
ton, said the company's stock OF goods is
less than it was year ago. he put III
the assessment on stock and credits at
$4,000. aud the Assessor raised it to $751;
600. Ninety thousand dollars, he said,
would more than cover the full cash
value of all the stock. He thought the
assessment is fully $4,000 too much.
}. g. klune, the jeweler, said that bus
1ness at present did not justify jewelers.
IN carrying the stocks they used to keep.
de thought his assessment of $1,000 on
BLOCK anu SoO0 on fixtures was fair.
=. D. Nc oack, another jeweler. said that
Wltnln the last two years he had not
purchased new goods, but on the con-
trary had reduced his stock. When the
hard times came the jewelers. were the
first to feel The pinch. Where they used
to sell fine goods. they now have to deal
in cheaper things. His assessment of
1000. he thought, was high enough nm
der the circumstances. When business
A @Pure a.