New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-26
no SHERIFFS FOR RAMAPO.
STATE CONTROLLER MORGAN on THE
WATER COMPANY'S REPORT.
If THERE ARE 40 EARNINGS lie HAS
NOTHING TO COMPLAIN ONO PROFIT
80 TAXEs TO BE IMPOSED.
fBY TELEGRAPH 70 THE TRlBCNE.l


80 TAXEs TO BE IMPOSED
fsr TELEGRAPH 70 THE TRlBcNEl
Albany Sept Civilian J. Morgan. the state
Controller. WIS much amused to-day when nc
hoard that sensational newspapers had described
him az about to let ioose army Of Shern'
against the Ramspo Water Company. lie said.
The fact If the matter Is that in the ordinary
course Of business OF this Department about a
month ago blank was sent to TIE ham I,'a9o
sent 10 other water companies, asking It's officers
20 report its gross earnings the past year IN orneI
that the State tax might be imposed. No answer
has yet been sent by the company Possibly II has
paint 10 MAKE against IT, and to-day nave been
somewhat astonished 10 learn that the people VINO
ppesed before 1me acme W@er rom H on
the ground that # had not used IFS charter now
cil,o r. on The ground that It hasn't paid any state
tax on its business. OF course. n IL has not used
lfs charter II mas done no business Of profitable
nature. ana therefore there is no State tax to i'm
pose President butcher OF the Ramapo Water
Company may have the courtesy to make a
report As for any Sheriff business. that would ne
matter for The futqre II was conyinced 1hat
and vas trying 10 evade a State tax.
THE REPORT REQUIRED
The Controller requested the Ramapo company's
officers 10 nh ont n bank giving information re-
gardrg the date of organization Of tho company,
total authorized capital whole number Of shares NJ
stock authorized number Of shares of stock issued
par value Of each share amount paid into the treas
ury ~ the company on each share. amount Of capt
tai paid in. amount Of spital upon which dividends
declared. date OF each dividend declared.
amount Of each dividend declared rate per per
snnum OF dividends. and gross earnings derived
from an sources during tho above period. Section
l> ~ Chapter MS OF the Laws OF lsss reads a. fol-
lows:
Every corporation. JOINT stock company or asso-
citation formed for supplying water or gas or for
electric or steam heating. lighting or power pur-
poses shall pay to me state FOR the privilege Of ex-
ercslns lts corporate franchises or carrying on It's
bus ness I'm such corporate organized capacity I'm
this State an annual tax which shall be 1ve-tcnths
or per centum upon It's gross earnings from an
sources within this state and per centum upon the
amount OF dividends declared or paid I'm excess OF
capital employed by such corporation, Joint stock
company or ASSOCIATION.
This section must be considered IN company With
Subdivision OF Section $50 OF Chapter 9os Of the
Laws OF 1896. which reads as follows:
Every corporation. Joint stock company or assoc
citation liable to pay tax under Section 1856 OF this
chapter shall on or before December Of each year.
make written report TO the Controller OF its con-
diton at the close Of its business October 81 pre-
ceding; stating the amount Of It's gross earnings
The YEAR ending with October a he a,tbr15
capital OF the company and the amount Of capital
stock issued and outstanding
WHEN ACTION COULD BE TAKEN.
n Controller Morgan should be satisfied that the
Ramapo Water Company has paid dividends. and
yet has not paid the State tax he can request the
Attorney General 10 bring action to recover the
sum due the State. Further the Attorney Gen
era upon the report Of the Controller that the ac-
count has remained unpaid for year. may bring
an action to forfeit the charter Of the offending
| corporation
Section so OF Chapter sOS Of the Laws Of 1896
! says
An action may be brought by the Attorney Gen
era at the instance Of the Controller, In the
| Of the State, to recover the amount Of any ac-
| count audited and stated by the Controller under
the provisions Of this article II any such account
! shall remain unpaid at the expiration Of one year
! as required by this article and the Controller Is
satisfied that the failure to pay the is inton-
tiona, he shall so report 70 the Attorney General
who shall Immediately bring an action In tn,
name Of the people Of the State for the forfeiture
| Of the franchise Of any corporation, joint stock
| company association failing 10 make such pay
mont and II II is found that such failure in-
territorial. Judgment shall he rendered IN such
action for the forfeiture of IT'S franchise and for
! IT'S dissolution and thereafter such franchise shall
/ be annulled.
II will thus he seen that year must elapse before
! the Attorney General could ask FOR the forfeiture
! RI tho charter Of the Ramapo Water Company
The LEGISLATURE Of 1870 will meet within that period
I and will probably shear the water company OF
| r,uch ~ It's power OF mischief n Il has any
| Al least the taxpayers OF New-York will have
! the charter OF Ncw-Norl modified so as 20 protect
! them