The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-14
MEMBERS OF THE BOARD OF
EQUALIZATION GOING OVER
THEIR WORK.
REDUCE MANY ASSESSMENTS
WHICH THEY HAD ARBITRARILY
RAISED WITHOUT LEARNING
THE ACTUAL FACTS.
STREET RAILWAYS PROPERTY.
COmpany's Attorney Protests
Against the VaIuatiOn-TO BE
Considered Today.

Today is the last day that the board
of equalization is allowed by law to
| sit, consequently all the matters that
| have been referred to subcommittee
and the county attorneys office must
| be recalled and disposed of before mid
night. The principal matters remain
| ing undiSpCsed of are the assessment of
the Jobbers, the street railway COM
| pany and the st. Paul Gas Light COM
| pany, which is to be reconsidered
At the opening Of the session yester-
| day forenoon, M. D. Mum, represent
ing the ST. Paul City Railway COM
! pany, appeared before the board to
| protest against the valuation of $780,
| 600 as excessive. Mr. Mum could see
| no reason for increasing the assess
ment over that of last year, and he
requested the board to appoint a COM
mittee to ascertain the value of the
| taxable property of the company. Aft
er some discussion the board decided
to adopt the suggestion, and the chair
| appointed Messrs. Kirke, Quehl and
Larson special committee to make
the required investigation.
Another matter of special interest
considered by the board at both ses-
sions yesterday, was the protest of
the st. Paul Trust company against
the arbitrary assessment of $4,000 on
the cOmpany'S personal property. Gen.
Bishop represented the trust company,
which contends that it should not be
subjected to any tax for personal prop
erty. The matter was referred to the
county attorney to report in the after
noon Gen. Bishop appeared at the
afternoon session, and in response to
request, produced copy of the COM
panys last printed financial statement.
According to this statement the value
OF the company's capital stock is $780,
| 600 From this amount was deducted
the sum of 100000, the value of the
real estate, leaving $147,000, as the value
OF the personally. Assessing on the
basis Of 70 per cent of this amount
| after, the rule followed in assessing
bank property, it was proposed to fix
the valuation of the trust company's
property at $102, 300. But upon hearing
from Assistant County Attorney Zoll-
man, who gave his oral opinion that all
the mortgages in the possession of the
trust company could be assessed in
| making up the total valuation, action
was deferred until today. The aggre-
gate of mortgages in the possession of
Tie IUpdIy IS over Sl,ZUU UUU.
f. V. HeyderStaedt, whose return of
$3.50 was raised to $25, 200, appeared in
person to protest. The increase was
made to cover several thousand dollars
| worth of tax titles purchased in recent
years by Mr.. Heyderstaedt The lat
| ter explained that he had purchased
them with borrowed money and was
| interested only to the extent of the
| profit arising from the difference be-
tween the interest he paid for the loan
and the II per cent interest that the
delinquent property owners must pay
| if they redeem. Mr. Zollman expressed
| the opinion that tax certificates were
| not taxable, but the board referred the
matter to the assistant county attorney
for a written opinion.
On motion of Mr.. Kirke, the National
Subway company, which is now the
| property of the North American Tele-
graph company, was placed on the as
sessment roll for SIS, 900.
E. W. Peet, the president of the ST.
Paul Suburban Railway company, ap-
peared before the board and protested
against the assessment of the COM
pany's property at $4,000, as fixed by
the board on Thursday. Mr.. Peet in
sisted that the valuation was much
too high, and gave some facts in proof
Of his claim After listening to Mr.
Peet, the board reconsidered it's ac-
S., 600.
On motion of Mr.. Kirke Dr. J. E.
Schadle's name was placed on the as
sessment roll for $4,000.
G. j. Monfort, manager of the Wind
scr hotel, appeared before the board
and asked that the assessment on the
hotel be reduced from $4,000 to $4,000
and it was so reduced.
The Golden Rule assessment was re-
duced $50 900. The return from the
| Golden Rule was $780, 600, this had been
arbitrarily raised to $150000, and yes
terday was finally fixed at $12O,GOO
The assessment of the New England
Furniture & Carpet company, over
which the board had spent much time,
was fixed at $4,000. The report of the
committee made it $4,000, and Mr.. Kali
dunski moved to make it $4,000, which
failed to be carried.
In the case of Ryder, Sitzman & Co.,
the original return of $500 was allowed
to stand Mr. Kirke reported that the
stock showed $2,1S763, and no more.
The New York Biscuit company's as
| sessment was fixed at $4,000 1t had
| been raised from SO 900 to $500.
An application from the Ohio Coal
company asked that the figures be
fixed at $3.50, but the assessment of
| $4,000 was ordered to stand
Bedding Bros. & Co. had been arbf-
trarily assessed at $4,000, and was this
| morning fixed at $4,000. A motion to
make the amount $4,000 did not pre-
vail
Levi & Hauser were fixed at S., 800
a change from an arbitrary assess
ment of $500.
Philip Shufeldt asked a reduction
| from $4,000 to $5,OO0 and the applica-
ton was granted.
Mr.. Kirke moved that the assess
ment of Bannon & Co. be placed at
$4,000, and this motion was carried
The assessment had been previously
and arbitrarily fixed at $4,000.