The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-03-02
CuuncIImen Who Want Them 10 Pay Taxes
on Their Stock.
DISCUSSION IN THE COMMON COUNCIL
The Now Engine House ana Lower
Insurance Rates Discussed Also
Many Minor Matters Como UP for
- Conemrrcnl Action-AtIantic CITY
Ward wants Sewerage,

| lar March meeting last evening the fol-
lowing members were in their seats:
Councilmcn Farant, Gwathmcy, Elliott,
*. b., Elliott, j. ~, Hannah, Davis,
II. C.. East. Ridgewcll, Camp. Baecher,
| Dennis, Mcfarland, Cunnon and Peelle
| The resolution to regulate the
! charges for telephones was laid on the
| table
Petitions to build, approved by the
FINANCE Committee, were granted.
The bond of X. w. Goode as City
GauGer was received.
"A resolution instructing the Ordi-
nance Committee to define the duties;
OF the City WeiSher was adopted
Inc Council declined to concur in the
resolution requesting full statement Of
all receipts of coal without City
WeiShers certificate
Inc ordinance to authorize the issue
OF notes ana bonds to provide for the
c'tSs interest and expenses was the
occasion for Il discussion between
Messrs East and Davis. The former
| thought the step unnecessary, as the
| city had some 100000 In bank Mr..
Davis stated that the money on hand
was already appropriated and was,
therefore. not available for the pay
ment of interest coupons and current
! expenses. This state of affairs arises
every year. he explained. owing to the
| receipt OF the city's funds in semi
| yearly installments.
| The matter then came to "a vote and
was lost. Mcssrs. Cannon and East
voting no. Mr. Davis as chairman of
me FINANCE Committee. then stated
! mat unless Mr.. East changed his vote
there would be II default in the next
| batch OF city's coupons presented for
payment. Under these circumstances
| both Mcssrs. East and Cannon changed
| their votes.
| The Atlantic and Danvillc railway
| was given permission to erect a sign
across Water street
| An ordinance providing for the In
crease Of the lFire Department, by
| doing away with eleven call men and
substituting five regular house men, at
an additional cost of $l,5i0 per year.
| RMS is exclusive Of the recently au-
thorizeu West End cnginc-house and
| crew, which, for convenience, is in
| Guided In the ordinance 1t was re-
lerred 10 the Finance Committee.
| Tile petition of Dennis Moscly for
pay for overtime while in the city's
employ at the crcmatory was diIap-
| proved.
Mr.. East moved to take from the
| table the resolution taxing bank stack
1t was the chairs opinion that the
matter had been referred to the FL
nance Committee by the Select Coun-
| Gil. Mr. East then offered the resulu-
ton printed below, which action he
said, he took owing to Il strong i'm
| preston prevalent in the city that the
| banks and other corporate interests Of
| Norfolk did not bear their just pro por-
ton Of the burden of taxation. AS Il
| result Of the exemption OF the banks
| from paying tax on their stock, the
| Finance Committee has been compelled
! TO skirmish for objects for taxation
and has to borrow money to meet cur
| - III sol. Il .
ing banks of Richmond. with $780,
600 capital, pays the city $SS,SSS per
year. while five leading banks Of Nor
| folk, with Il capital of S1.110,OOO. pay
$3.OGi to the city. The city railway,
with n bonded Indebtedness of 81 $780,
O00 pays $2,700 to the park fund, while
The electric company and the gas COM
pany are assessed nomnally Mr..
East made further argument in
which he protested against the placing
of all the burdens Of taxation upon
! the people.
| The resolution offered by Mr.. East
| was rs follows:
BE 1t amended by the Common and
Select Councils OF the city of Norfolk,
That the Finance Committee be in
structed TO levy no more special or lie
cnse tax against bank capital or any
| company or corporation owning or
operating franchise in the city where
| in the public streets are used, but in
| lieu thereof the value of all said
plants and bank capital shall be
| assessed and taxed rs other personal
property. and that the president OF each
| council shall! appoint 4 committee OF
| three, two from the Common and one
from the Select Councils, to act in
conjunction with the Commissioner of
Revenue in determining the values of
same for assessment"
| n, i'm, &c
| Committee, made strong response 10
! Mr.. EastS speech. lie said that that
| gentleman had made several erroneous
! statements in the course Of h:G; re-
marks The franchise Of the city rail
way states explicitly how the road
| was to be taxed. the taxes Of the gas
! and electric companies are based on
what they have been charged hereto
| fore. AS to the banks. he referred TO
| the chaos here succeeding the failure
| OF many banks in 1857, the city in an
effort TO induce strong financial insti-
| tut!ons to come here took the tax
off with the result that when, in 1898
| the banks of Richmond and Of other
| places were issuing clearinghouse GER
! titicates, tho banks of Norfolk were
| paying off iii currency
| Mr.. Pccllc wanted the matter post
! poned until the hurget came up this
:, spring. He put his proposition in the
| form or substitute motion.
| Mr.. East replied to Mr.. Davis briefly.
President Winston here took the
floor and stated that he owed the
banks nothing. asked no ravors of
| them. was under no Obl;ga TONS. to
! banks nevertheless he proposed to
connive at no effort 10 tax out of ex-
isiencc or to impair banks, which are
the friends of the public, "Wcrc the
banks managed by shylocks," he said.
should say pile on the tax until
they learned to be mcrcifu: hut they
arc not ,chnN orr m .rcl L.: MI