The San Francisco call., 1899-07-12
CORPORATIONS
ARE CITED TO
SHOW CAUSE
Must Explain Small
Tax Payments.
WELLS-FARG0 H0TLY GRILLED
SUPERVISORS SIT AS A BOARD
OF EQUALIZATION.
Protests Against Erroneous Assess
ments Coming In in Bunches,
but in Most Cases Assess
or's Figures Stand.

The banks and quasi-public corpora
tions are to be hard put to it to explain
just why they should not shoulder their
just share of the taxes that are this year
to be paid into this city and county. 1t
is the opinion Of Assessor Dodge that he
has about everything assessed that can
be touched under the law or which has
not been converted into drafts and de-
posted temporarily with foreign corre-
spondents of local banking institutions,
but the Supervisors have an idea that
they may find a way TO go him one bet
ter, and to this end they yesterday
adopted a resolution citing about every
banking institution, public or private.
and money broker of Importance in this
city to appear before them while sitting
as Board of Equalization and show
cause why their assessments shall not
go up.
Tackle 1t If you want to-" said Asses
sor Dodge to them yesterday. "I have
spent the better part of a month in go
ing over their books, and in some cases
they have openly laughed at me. / have
got them assessed as close as they can
tions and their ability to evade taxation
on certain classes Of collateral. It's the
private banking firms We are afraid of.
The man around the corner who may be
using $3,000,000 or $4,000. 900 in his busi-
ness but who renders a statement to me
me the right to inspect his books and L
can do nothing with him
Dodge fGaFd Ra he asef probaby wth had eSsT
thing charged against the corpora
tions that he could find. but at the
same time thought it would be as
well to have them all up and question
them as to their franchises. Consequent
ly Mr. Aigeltinger offered a resolution
ing Of the 14th and show cause. Only
Lackmann and Heyer voted against it.
Assessor Dodge made one exception in
untOuchahla
operated by Wells, Fargo & CO. The
ing their Headquarters in san Francisco,
are Incorporated under the laws of Colo
Tad0; 1 They have BRANCHES ba, in New York
plus of s6,712,OO0 on capital of $500, 900,
but that vast amount is farmed out
taxed in this State, notwithst anding that
the company's chief place of business is
here, for. the reason that under the law
of the corporation-the place under the
laws of which it is Incorporated.
sdd Nr DoGge anS only bs anghee tod
and not pay a cent in taxes unless he
right. They simply unload their taxable
holdings among their branches and we
cannot touch them. All that we can as
tune of s2,172,947 and cash, which they
have notified US amounts to s4s6.o99
|
| one way of getung at the company and
| that was by raising the assessment on
their banking franchise, which he has
osition the board will consider
In considering protests against this
most most part backing up up Mr.: Dodge's fig- de
been requested. Nearly all of yesterday
ranging from $50 to half as many thou
sand
Two representatives Of the caIlagham
roptEf property - at VEST MISSION s and % Potter G
S125 600; this year Mr.. Dodge voluntarily
reduced it to Sis 900, The estate. wanted
it cut down to $97, 600 and banded not
Investigations developed that there was
every probability that the city owned the
was promptly raised to last. years figures
and the Calfaghams retired disgrunted.
came to he front o
swear glibly that their holdings were
not worth half the assessment, but
developed that in most cases they car
ried policies for amounts far in excess
panies take risks only on about 60 per
cent of the actual valuation of the prop
erty, there was nothing left for the board
The Columbia Savings and Loan So
ciety sent in representative who was
loaded up with unkind things to be shot
at the Assessor. Dodge assessed the So
ciety's franchise at $25O0, and the soci-
ety's, representative said that when he
based based his his Calculation pt that oficiai was was
unable to tell him and referred him to
"his expert" ''If he based it upon the
the assessment of the Hloernia Bank
should be raised a hundred or so times
what it is to be in proportion. The So
cia e ripIx delivered W H.
standing rather a severe struggle with
modern English on the part of the ora
tor but it had no effect upon the board
and the assessment remained at the origi
nal s2500
The board will continue its considera
ton Of property at 10 o'clock this morn
inc