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 were: 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 legalized real estate
holdings On the other hand, the state
board has made d rule for the leYying of
the assessment for 80 per cent of the capt.
tai stock surplus and undivided profits
minus the Iegalized real estate holdings.
The state board last year raised the valu-
atoms, 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 $780, 900: Capital to
$50, SOP; Scandinavian. 1903; First Nation
al, 1896, $50; National German-American,
1910. 900: Union, 100000, and the Second
National, $4,000.
The board accepted Michael Dorans re-
turn of $40, and the proposed raise to
SO 900 was stricken off. Leslie & McAfee
was raised, after some discussion, from
$3.50 to 1900, and the following reduc-
tons were made where protests had been
filed: DeCoster & Clark company, from
$26, 200 to $12 co., c. c. DeCoster, from 81, 700
to 1910; A. NJ. Cathcart, from 81, 400 to $500;
Eva Lamprey, from $4,000 to 81 800; Au-
gUsta Campbell, stricken off; Bonn Manu-
featuring company, from S2T 800 to SIS, 100;
Anna NJ Clark, from 81, 800 to 5000; w. l..
Stegun, from $1,000 to $3.50; A. Kalman
from $500 to S1,730; Virginia Lenhart
from $500 to $500; Windsor hotel, from
$500 to $4,000; T. Pease, from $500 to $780,
Mrs. John Egan, from $500 to $3.50; A J.
Dimond. from 81, 500 to 81, 495; Schwallen &
Co, from $500 to $780, Adam Bever, from
500 to 1865; NJ. Furst, from $3.50 to $3.50
David Cleary, from 5000 to $685.; R. A
Becker, from s., 100 to 81 ,S75; Mary Edger-
ton, from $1,000 to 81 $50; E. y. Brown
from $4,000 to $4,000; E. S. Moore, from
$1,000 to $3.50; A. Lindahl, from 81 900 to
$500; North Star Yeast company, from
s24O TO S145; J. Marie. from s525 to $780,
st. Paul Towel Exchange from $500 to
$500; Butler Iron Works, from 2,720 to
$500; w. X. Mulliken, from 1910 to $500
John Pfster, 81. 900 to 500; E. o. thinner
man, from $3.50 to $3.50 Nelson & Co,
from SEQ to $500; A. Bland. from $500 to
$317; Mrs. s. T. Eker, from $500 to 5000.
An application from the Minnesota
Mortgage & Loan company for a reduc-
ton from $4,000 to 5000 was laid over and
the agent of the company notified to an
pear. An application from the New York
Life Insurance for reduction from ST.
900 TO $4,000 was denied, and the same
fate befell an application from c. P.