The record-union., 1897-01-17
ASSESSORS CONVENTION.
Things That Are Recommended to the
Legislature.
Passage of Laws Asked to Assess
Shares of Capital Stock and
for Bank Statements.

The late State Convention of County
Assessors decided to ask the Legislature
to make a number of amendments to
the revenue laws of the State by which
a gain of income will be insured, as we'll
as a saving of labor to the Assessors.
They recommend that stock in cor
porations be assessed to the holders
thereof by taking the value of the prop
erty assessed to Incorporation from the
capital stock and dividing the remain
der by the entire number of shares into
which the capital stock is divided
They also recommend a new section
for the taxation of foreign corporations
TO be added to the Political Code, to
read as follows:
Every association or corporation or
ganized under the laws of any other
State, or of any country foreign to the
United States, and doing business in
this State, as a bank, banking associ
alton, or banking corporation, shall be
assessed and taxed as are like associa-
tions or corporations existing under the
laws of this State
The passage of alaw compelling banks
to make an annual statement to the
Bank Commissioners showing their con-
dition on the first Monday in March
each year, the statement to be verified
by a majority of the directors of the
bank, and is very full and sweeping in
its provisions. The statement must set
forth the amount of capital stock and
number of shares into which it is divid-
ed, give the names of the directors and
number of shares held by each, state
he q N "a mo IF
the reserve fund. total amount due de-
positors and amount and character of
any and all liabilities The statement
must further set forth the value of it's
building and real estate; the amount
loaned on real estate, no matter where
situated, and the name of the person
who owns it; the amount invested in
bonds the amount loaned on bonds, the
amount loaned on other classes of Sc
curity, the actual amount of money on
hand. and any other property held, de-
posted, invested or placed, not other
wise enumerated.
The oath of the officers must state
that they have a personal knowledge of
the matters contained In the statement
and that they believe them to be true in
every particular, and any willfully false
statement shall be perjury and punish
able as such. 1t further provides that
a copy of the required report shall be
forwarded by the Bank Commissioners
TO the Assessor of the county in which
the business of the person. association,
partnership or corporation is located or
transacted
To obviate the difficulty experienced
by Assessors in eNacting statements
from property-ownerS, another law is
proposed which it is thought will rem
edy the evil 1t provides that every one
shall be required to give a statement
under oath of the amount value of all
of his property. The Assessor may fill
out the statement at the time he pre-
sents it, or he may deliver it to the per-
son and require him, within an appoint
ed time. to return the same to him prop
erly filled out. II any person, after de-
mand made by the Assessor, neglects
or refuses to give under oath, the state
ment provided for, or to comply with
the other requirements. the Assessor
must note the refusal on the assessment
book opposite his name and must
make an estimate of the value of the
property of such person; and the value
50 fixed by the Assessor must not be
reduced by the Board of Supervisors.