The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-10

The bankers had an inning with the
board of equalization yesterday, and
registered an appeal for the acceptance
of their sworn statements of valuations
in place of having the assessment fixed at
the same figure as last year, which was
the intention of the board. Those who
appeared We're: H. p. Upham, of the
First National bank; Kenneth Clark of
the Merchants National bank; w. D.
Kirk of the Capitol bank. and Vice Presi-
dent Mailer, of the Second National.
Their arguments were heard and the mat
ter laid over until today, when the board
intends besides to take up franchises and
hear the protests Of the jobbers that were
raised.
1t appeared from the statements made
that the returns made by the banks this
year were greatly under the figure to
which they were raised last year by the
state board of equalization, and Commits
sioner Hardick had moved to have the
valuation fixed at the same figure. Under
the law the banks are to be assessed on
the basis of the capital stock plus the
surplus, less the Iegalized real estate
holdings. On the other hand, the state
board has made a rule for the levying of
the assessment for 80 per cent of the CAPT
tai stock surplus and undivided profits
minus the legalized real estate holdings.
The state board last year raised the valu-
ations, as the banks claim, arbitrarily.
Now the bankers set up the plea that
they have made their sworn returns this
year according to the rule of the state
board and under greatly changed con-
ditions.
The institutions had been raised as fol-
lows: Merchants to $3.50 OOO Capital to
$50, SOP; Scandinavian, $70,603; First Nation
al, 1896 5SO National German-American,
$3.50, 900; Union, $6O,0OO and the Second
National, $4,000.
The board accepted Michael DOrans re-
turn of IS, 470, and the proposed raise to
$4,000 was stricken off. Leslie & McAfee
was raised, after some discussion, from
$3.50 to $780, and the following reduc-
tons were made where protests had been
filed: DeCoster & Clark company from
SIG, 200 to $12, 900; C. c. DeCoster from 81, 700
to 1910; A. NJ Cathcart, from 81 400 to $780,
Eva Lamprey, from $1,000 to $1,600; Au-
gusta Campbell stricken off; Bonn Manu-
featuring company, from $27 300 to SIS, 100;
Anna NJ. Clark, from 81 800 to 5000; w. L.
from $500 to 81, 100; Virginia Lenhart
from $500 to $780, Windsor hotel, from
$500 to $4,000; 7. Pease, from $500 to 5000;
Mrs. John Egan. from $500 to $3.50; A J.
Dimond, from S1,SO0 to 81, 495; Schwallen g.
Co, from $500 to $780, Adam Bever. from
500 to $3.50; NJ. Furst, from $3.50 to $3.50;
David Cleary, from $500 to $685.; R. A
Becker, from 50, 400 to $1,875; Mary Edger-
ton, from $500 to 81 $50; E. A. Brown,
from $4,000 to $4,000; E. s. Moore, from
$1,000 to $3.50; a. Lindahl, from 81 900 to
$3.50: North Star Yeast company, from
$40 to S145; j. Marie, from $525 to $3.50;
St Paul Towel Exchange from $500 to
$500; Butler Iron Works, from $2,720 to
$500; w. X. Mulliken, from $40 to $780,
John Pfster, $1,000 to 800; F. o. thinner
man, from $3.50 to $780, Nelson & Co.
from $3.50 to $780, a. Bland, from $500 to
$S17; Mrs. S. T. Eker, from 500 to $500.
An application from the Minnesota
Mortgage & Loan company for a reduc-
ton from $4,000 to 500 was laid over and
the agent of the company notified to ap-
pear. An application from the New York
Life Insurance for a reduction from ST.
00e to $10.500 was denied, ard the same
fate befel an application from C. P.