The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-17
ASSESSORS FIX VALUES
RATES AT WHICH COMMODITIES ARE
TO GO ON THE DUPLICATES.
OIL Wells, Gas Wells and Pipe-AttOr-
ney General on Banks and
Telephone Plants.


committees appointed the day before to
reach conclusions as to uniform rates of as
| sessment on particular kinds of personal
| property assigned to each made their re-
ports, which were then adopted by the con-
ference as whole. The discussion, aside
from that on the reports, brought out many
interesting cases of hidden property and
values that have escaped taxation by reason
of oversight on the part of tax authorities.
During the afternoon Attorney General
Ketcham, whose legal knowledge of the
fine points of the tax law was in great
demand among the assessors, was induced
to attend the meeting that he might an
swer the questions Of the whole conference
at once.
One of the important committee reports
was that relating to oil, gas wells and pipe
lines. This report favored a system of
graduation of pipes beginning, say, with
three-eighth-inch black gas pipe, not Older
than three years, which should be valued
for assessment at IS cents hundred feet,
and then running up to an eight-inch drive
pipe to be valued at $50 hundred feet for
new and 500 a hundred feet for pipe more
than seven years old. AS oil pipes do not
decrease in value a fixed rate of valuation
was favored, this rate being on a sliding
scale from $40 hundred feet for two
inch pipe to SGT hundred for ten-inch. The
valuations recommended for gas wells were:
First-class 81 900; second-class, 500; third
class, $500; fourth-clasS, $3.50 A UNIFORM
valuation of $3.50 was favored on oil wells
with $50 additional for each barrel OF daily
production, while the machinery and build
ing pertaining to the wells is to be assessed
separately. The price on pipe Is net, and
does not include cost of placing and laying
of same Oil tanks are to be listed at
cents a barrel capacity. Pumping stations
are referred to member of State Board
of Tax Commissioners for adjustment.
Water companies are to be assessed on their
capital stock.
ASSESSMENT OF BANKS.
This report was adopted and the report
of the committee on banks was taken up
and adopted as follows:
''Incorporated banks within the State OF
Indiana are to be assessed upon the amount
of their capital stock, the amount OF Inel[
surplus stock the amount of their undlVlueq
profits, less 10 per cent. for shrinKage anu
Banks not incorporated are to have the
same right of bona-fde Indebtedness as Is
credits alone. The banks Indebtedness is
it's deposits. as specified in Item { (secti .s,n
50 tax lawsl Its credits are those Items
specified in Item of said section
THE deposits should be deducted from
those credits alone. If deposits exceed
credits no further deductions to be al
lowed-one simply to stand as seton TO
IF credits in Item exceed deposits Qtem
u the excess of credits, together with the
totals of Items /, 2, 3, and To be returned
for assessment and taxation"
The same committee also MADE the Iol-
lowing report with reference to building
and loan associations, which was also
adopted:
SResolved. That the items set out in the
assessment list of 1897 shall be the same in
the list for 1898, except that building and
lean running or partly paid stock IN as so
event that the State Supreme Court shall
decide before April 1, 1898, that said running
or partly paid stock is not taxable.
DRY GOODS AND GROCERIES.
The committee on merchandise reported in
favor of assessing dry goods at rs per cent.
of their cash value. groceries at So per
cent implements at So per cent, drugs at
IS per cent, lumber at 80 per cent, clothing
at 80 per cent, furniture at 80 per cent, I'M
dertakers' supplies and liquors at 100 per
cent, boots and shoes at 70 per cent,
plumbers supplies 80 per cent, queensware
So per cent, new wines 20 cents a gallon, old
wines at IS cents q gallon and all manufac-
tured products held by manufacturers at
| par value. The report was adopted.
The live stock committee reported IaVor-
ing the assessment of farm ana team am
| two-year-old colts, %5; one-year-old Colts
| SIS; carriage horses 500; horses and stall
class class mules, $50; three-year mules, s35;
| two-year-old mules, SIS; one-year-old mules,
| SIS; registered cows, $50 to 500; common
pound; feeding cattle, S1s cents pound;
registered sheep, s. to $40; common sheep,
| 81 TO s.; hogs, 8 cents pound; poultry, y
| to S. a dozen; bees, 81 stand. The report
| was adopted.
IMPLEMENTS AND GRAINS.
The committee on agricultural and farm
| implements reported in favor of assessing
| reapers, mowers and drills at 60 per cent. of
| their original cost after one years use, and
| the same in regard to vehicles. 1t also
| fixed the assessment of wheat at 50 cents a
| bushel, corn at 20 cents q bushel, oats at 20
cents a bushel, potatoes at 80 cents a bushel.
wool at 16 cents a pound, clover seed at
$225 a bushel, timothy seed at SIPS bushel,
timothy hay at IS a ton, clover hay at So
ton, pork and lard at cents pound. The
report was adopted, and also one making
the valuation OF ice 50 cents a ton, fifty
cubic feet to be considered ton.
1t was resolved to have the conference
proceedings printed and $500 coLies dis
tributed to the assessors of the State.
Governor Mount, who has presided during
the entire conference, and who has evinced
much interest in its discussions. was COM
plimented by rising vote of the conference
on resolution expressing appreciation OF
his efforts in behalf of just and equable
taxation. The Governor replied. commend
| ing the members OF the conference and ex-
pressing his qualification at their attend
ance and the earnestness of purpose they
evinced.
The committee on legislation reported
progress through its chairman, T. b. Bus
| kirk. Mr.. Buskirk stated that the commit
| tee would be convened some time prior to
| the meeting of the next General Assembly
| for the purpose of taking action regarding
new amendments proposed to the tax law.
| One resolution, asking that law be passed
compelling persons holding notes on April
l each year to have them stamped by the
assessor, was referred TO this committee.
| This resolution proposed that all notes not
| bearing the assessors stamp should be I'M
| collectible. Many of the speakers called at
| tention to the fact that next year the real
| estate of the State must be assessed, and
| that, therefore, next years meeting of the
| conference would be of unusual Importance
THE ATTORNEY GENERALS AN
SWERS.
The first question the attorney general
| was called upon to answer at the session
yesterday was HAS an assessor the right
to demand of bank cashier that he pro-
| duce the books of the bank and grant an
| inspection of them in order that the asses
Sor may satisfy himself that reports of
money on deposit made to him are correct?"
IAN assessor has not the right to go into
| a bank and paw over its books said Mr.
Ketcham. 'but he undoubtedly has the right
| to summon the cashier before him and de-
mand an inspection OF the books This
/ nronoSition seemed somewhat startling 10