The record-union., 1896-07-15
OBJECT TO ASSESSMENTS.
Reductions Are Asked by Heavy Tax
payers.
Applications Filed by the Bank OF
D. o. Mills & Co. and the
Rancho Del Pas0.

There was fled with the Board of Su-
pervisors Yesterday a sworn statement
by Frank Miller, President of the Ma
taonad Bank of D. O. Mills & Co., re-
garding the property of that corpora
tion liable to taxation. The bank is
assessed for $4,000 ON safe and fix
lures, $S00,000 on money ON hand, and
$4,000 on solvent credits
The affidavit submitted by President
Miller alleges that the safes and
fixtures are worth but $4,000;
that the money on hand on
March 1st did not exceed $343,-
4D4 40. and that the solvent credits are
more than offset by the sums due de-
positors. While not waving any Of its
rights, the bank offers to pay taxes on
100000 over and above the Valuatlon
of its real property for the purpose OF
avoiding litigation
President Miller said yesterday when
asked by a Record Union" reporter
concerning the ground ON which the
bank bases its application:
''The County Assessor in 1893 increas-
ed the assessment of the National Bank
Of .. o. Mills & Co. some SS0O,OOO, ana
the bank rendered the tax ON S16O,O0O.
This year he has raised the assessment
TO 81, ,429 900, and the bank has made
application to have this reduced to
100000. The city assesses the same
hank for $175. 900. and there is no con-
test
1.-The State Board of Equalization di-
rected the Assessors in each county
20 assess National Banks under the pro-
visions Of the United States law which,
briefly, are as follows: Assess all realty
and mortgage loans against the bank;
assess the shareholders for the value OF
fheia' shares, less the sums Qike realty,
mortgages and bonds) already taxed or
exempted; nonresident shareholders to
pay the tax into the funds of the county
where the bank IS located.
''Our County Assessor decided not TO
follow these directions. AS each Ma
tiona1 Bank publishes a sworn report
five times each year, it is easy to get
q general idea of the taxable quantity
in the National Bank of D. 0. Mills &
Co under the State laws. laying aside
the United States law.
THE bank has a capital Of about
100000, and holds usually about 81
300, COO In deposits. OF course, it has
an equal sum in assets. OF the S2,OOO,-
600 of assets, some 81 800, 900 are debts
sFhich are Offset, under the State law,
by the credits to the depositors. About
100000 more are United States bonds
(not taxaible) and mortgages and realty.
on which the tax is regularly paid with
out dispute. Some S12o.OO0 Is money
in Eastern cities. This leaves the sum
of 1925, 900 to be taxed, and the bank
officials consider that, as values are as
sessed, they should get reduction TO
100000. In our application we say
that such a reduction is equitable, and
that this tax will be paid cheerfully.
1T seems that there are about thirty
National Banks in this State, and At
torney W. S. Wood of San Francisco has
IN charge the tax litigation for all the
hanks. He is expected here in few
days to ask for a hearing before the
Supervisors"
RANCHO DEL PASO.
County Assessor Berkey assessed the
Rancho del Paso ait 1868, ,750, @ $751;
go short Of S1,000000. The land is as
sassed at $706, 700, the improvements
at S61, 900, and the Live stock at S2o1,-
600.
John Mackey, Superintendent of the
place for ]. B. Haggin. has filed a petit
~
1888, 125, amounting to S129,62o less
than the Assessors figures. No reduc-
ton is asked on the S706,700 assess
ment on the land, but that on the i'm
provements is asked to be cut down
from SCI 900 to $33 900. On the horses,
aIr. Mackey asks the board to reducs
the figures from $201 900 to S99,425.
LESSER REQUESTS.
G. S. Wait-From 81 800 on improve
nlents on a fraction Of lot 5, j, K, Fifth
and Sixth streets, to $4,000.
John Donley-From s., 600 on lot 3, f,
G, Eighteenth and Nineteenth streets,
TO $1,S00.
Sarah Shauer-FTom 81 500 on i'm
provements on fraction of lot 4, K, L,
Front and Second streets, to $500.
Michael Fay-From S1,75O on 16C
acres near the Costumes to s., ,2SO, and
from $3.50 on improvements to $3.50
from $500 on 81 acres In Hartwen grant
30 S436
NJ. McManus-From $500 on frac-
ton of lot 1, I, J, Seventh and Eighth
streets, to S2,350: from 1850 on i'm
provements to 1.200.
l. J. Simmons-From $1,000 to S1,50C
on building Improvements only) known