The herald., 1898-08-07
ITS LABORS ENDED
BOARD OF EQUALIZATION FIN
ISHEs UP IT'S WORK
A CUT OF OVER S825,OOO MADE
Auditors Statement of City Funds.
Beginning of the End of Torn Up
Streets in the Business Part

After sitting as a board of equalization
since the 18th of last month, the city coun-
cilmen yesterday morning finished up their
work and adjourned sine die. AS result
Of their labors the assessment rolls have
been cut, in round numbers SS25, COO, out
of a total assessment of S62000,O00. The
bulk of the cut is to be accounted for by
cancellati tions of assessments on mortgages
held by the regents of the University of
California and deductions on surplus and
undivided profits accounts of various
banks protected by federal taxation. About
this last item there is still great diversity
of opinion among councimen, several of
them holding that the deductions should
not have been made and that the assess
ments were legal. Aside from the reduc-
tions above mentioned the cuts are insig-
nif1cant and for the most part were neces-
STATED to make assessments conform 10
those on properties of like value.
President Silver was extended a cordial
resolution of thanks for the way in which
he had facilitated the work OF the board
by his quick, clear rulings. The clerk of
the board, Sam Haskins, is also worthy
of special mention for his ability and uni
form courtesy. BY ending its labors near
ly two weeks ahead of the time allowed
by law, the board has saved the city
goodly sum, for had it dragged along for
the rest Of the allotted time petitions would
have continued to come in involving reduc-
tions that have been estimated as high as
$780, 900.
Although the session was over by II
o'clock, a number of important assess
ments were considered. The cuts made
amounted to $21765, which was more than
offset by the addition of $2s, 239 to the rolls.
The bulk of this item was furnished by
the assessment of the State Loan and
Trust company for sl19OO on bonds, $12, s39
on money on hand and $500 on furniture
and fixtures A citation had been issued
several days ago calling on the company
to show cause why this assessment should
not be made. and yesterday it was or
dered The West Side Water company was
ordered assessed on $1,000 for water pipes
of it's system. This was also on a citation.
Reductions on the property of the Cath
olic church, represented by Bishop Mont
gomery were allowed follows: On
cathedral property. Second and Main
streets, and bishops residence on Second
street, from $35 600 to s25, 600; on old Plaza
church property, $50, 800 to s15,500 on
parochial school on Los Angeles street.
$1,000 to $500. Carl Reiss. owner of the bus
mess block occupied by Haas, Baruch &
Co., was given a reduction from $22.5o0 to
$4,000. The citation against Crandall,
Aylesworth & Haskell to show cause why
their assessment on stock should not be
increased from $12, 500 to $4,000 was dis
missed.
Auditor Nichols in making his estimates
for departmental appropriations for the
coming year allowed for a reduction of
about 5000 COO by the board of equalization
and then had to pare department estimates
freely. The increased reduction now to be
faced will recessitate a further pruning
to make the city's income fit its expendi-
tureS,