The San Francisco call., 1896-07-21
Money, Stock and Property of
National Banks Declared
to Be Exempt.
i. WAREHOUSES; SYSTEM.
NJ r,
1t Is Closely Followed Regarding the
Southern Pacific Company's
Property.
OAKLAND OFFICE SAN FRANC1sco CALL,

AO 41AC Vi InS 10OdIo VI
died tonight. Three sessions were held
during the day, and the board MADE some
radical reductions from the figures of As
SCISSOR Dalton.
The board had waited several days for
an opinion from District Attorney Shook
on several important points. The opin-
ions were rendered this morning.
Regarding the power of the Assessor to
assess the stock OF the National banking
corporations Mr.. Shook, after reciting sew
eral decisions, says:
Ny opinion, therefore, is that shares of the
capital stock of National banking corporations
cannot, under the law, be assessed either TO
the individual owners thereof or to the bank
as corporation, and that such shares are not
in any way subject to taxation for State and
county purposes.
The assessment of shares of stock of National
banking corporations to such banks could not
be upheld, for it stands to reason that in the
absence of section 360S of the Political Code
shares of the cspital stock OF National banking
corporations when issued could not under any
principle OF law be assessed to the banks issu-
ing the sar1e, but would and should be as
sessed, in the absence of said section, TO the
owners and holders thereof.
In answer to the second question propounded
by you l vii! say that under the principles
hereInbefore enunciated in this opin ion cash
on hand of National banks, held by such banks
In their capacity as National banks, cannot
In answer to the third question propounded
by you my opinion is that under the la no
property of National banks can be assessed for
the purpose of taxation in this State, except
real property belonging to such banks.
The District Attorney fled another
opinion regarding the Adams protest.
This was dispute between the Assessor
and the Adams estate regarding the man
ner of serving and filing blank statements.
Mr.. Shook decided that the Assessor can
lop oil i-a
in such cases, and in conclusion said:
1 therefore advise that under the. condi-
tions presented by your third question
| the board would have right to consider
the testimony and pass upon the question as
to whether any demand was made of the tax
payer.
| As to whether franchises should be as
sessed or not, Mr.. Shook furnished the
following opinion:
If it shall appear to you by competent evil
dence admitted upon the hearing before you
Of said applications. that any or all of these
| franchises have been granted by the authori-
ties OF this county, then and in that event
advise you that such franchises must be as
sessed, under section 362s of the Political
! Code of this State, in this county.
H. on the other hand, it shall appear to Won
| by competent evidence that any or all of said
| franchises have been granted by any other
/ authority than that OF the county of Ala
media, then and in that event l advise Won
that such franchises, and each of them must
be assessed in the county in which the Contra
! Costa Water Company, the corporation owning
! and holding such franchises has its PRINCIPAL
! place of business. The right to lay and main
tain water pipes in and to collect compensa-
| ton for the sale and distribution of water to
| the inhabitants OF city or town or city and
| county is a constitutional right, privilege and
franchise granted by the organic law OF the
| State.
Therefore, any right, privilege or franchise
claimed and exercised by the Contra Costa
Water. Company TO lay and maintain water
pipes IN and to collect tolls and compensation
for the sale and distribution of water to the
inhabitants of the city of oakland or any city
or town within the county of Alameda, is a
| right, privilege and franchise granted and
| guaranteed by the Constitution of the State of
California, and is within the meaning of sec
tion 1928 of the Political Code OF the State, a
franchise granted by other authority than that
! of the county of Alameda, or any city or town
| within the jurisdiction OF said county of Ala
media, and such being the same, must be as
sessed under said section 1928 of the Political
| Code in the county in which the said Contra
| Costa Water Company has its principal place
OF business.
After hearing the opinion of the District
Attorney and few protests the board con-
cluded that it could get through with its
labors tonight and dispatch was sent to
| the State board. informing that BODY that
they did not wish an extension and re-
tracing their application.
The board then went into secret session
| and, after debating several hours. an
nounced the following as the result of
their deliberations:
The San Pablo cable road, reduced from
| $123, ,225 to $64750.
The Telegraph avenue road, reduced froY,
1852 300 TO $40, 2,475.
Both of these roads are owned bv the
Southern Pacific Company
The assessment on the Seventh-street 10
cal line was reduced from S125 600 tn Sf0.
forty miles OF sidetrack from $6O, 900 to SO:
long wharf from $3.50, 900 to $iO; West Gal.
land yards from S277, $50 to $l7I, 200 and i'm.
provements on same from $3S, $50 to S26 5O0
The depot at the mole was cut from sl5O
600 to 500, 900; improvements at long wharf
from $15, 900 to $4,000. The sidetrecks 81
Niles, lrvington and Newark were cut to
S., as asked for, from $2200 The Berke.
ley branch road was cut from 1927. 500 IN
$ZO; narrow-gauge ferry depot, $4,000 to
900. The Centerville line was cnt from,
$500 10 $1,000. A'
The marsh lands claimed by the Pacific
Improvement Company and the Oakland
Water Front Company were not assessed
The franchise of the Contra Cos1a Water
Company was reduced from S205 OOO to
$45,o 600. The stock ana money of the Ma
tional banks were stricken from the rolls
in accordance with the opinion of the Die-
trict Attorney. The Piedmont and
Mountain View Railway was reduced from
$250,875 to $l44, $780, The franchisa
of the Alameda Water Company
from $4,000 to $1,000. The Adams
estate was set down at s904 mn
as against $456, 200 by the Assessor. The
Alameda and Oakland Electric RaiIwav
from 1902 100 to $16S, 500, Oakland ConsoI;,
dated Road from $229, 9,625 to $165. .s45. The
Alameda Water Company of Berkeley was
reduced from $196,675 to $3.50, ,636 and the
Oakland, San Leandro and Haywards
$24U, 200. The board adjourned sine die
just before midnight.