The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-23

them to slip from the commissioners
/ clutches.
Alexander Tarbet, who recently sold
an interest in a British Columbia mine
for 100000 and came to Salt Lake, the
/ city of his youth, to invest his wealth
and to make his home, made no OBJ
I lection to the proposition to be taxed
for $4,000 of ready cash. The only
other amount realized from the after
Moons inquisition was S2,944.44 from
Samuel A. Merritt.
Plenty of Cause Shown.
For one reason or another the other
twenty-one cited to appear before the
board got off without being subjected
to a heavier burden of tribute to the
commonwealth. Many of those who
derive thousands of dollars monthly
from dividend-paying mines showed
that the earnings Of their bonanzas
were taxed already as net proceeds of
mines, and, therefore, their dividends
We're not taxable Some others of this
class maintained that they were not
residents of Salt Lake county and did
their banking elsewhere, and all who
answered the citations represented that
on the first Monday in February, the
date arbitrarily fixed by law for as
sessing property. they had big over
drafts at the banks. With the two ex-
ceptions noted the commissioners were
routed on every point raised, either be-
cause the law or the sworn fact oper-
ated in favor of the persons whose
cash account was deemed to have es-
capped the eagle eye of Assessor Quinn.
The Inquiry Begins.
Thomas Kearns of Silver King fame
was represented by H. g. Mcmillan,
who expressed his Willingness to make
affidavit that Mr. Kearns had no money
in the Salt Lake banks last February;
that he is a resident of Park City and
had overdrawn his bank account there
at that time. The board concluded not
to tax Mr.. Kearns for SIG, 900 of cash.
David Keith, president of the Silver
King Mining company, declared that
he also is a resident of Park City and
does his banking there, where he had
an overdraft on Feb. I.
After Mr.. Keith had smilingly made
his exit from the inner chamber of the
equalization board, Attorney A. G. FL
lis laid down the proposition that the
equalizers had no right under the law
TO tax money derived from mine divi-
dends, since the earnings of such prop
critics are separately taxed to the min
ing companies as net proceeds OF ore.
County Attorney Putnam refralned
from taking issue with Judge Ellis.
Judge Ellis had another reason 10
show why Susie b. Emery and Louise
Grace Emery. her minor child, should
not be taxed $4,000 each for money on
hand He called J. :. Bransford, Mrs.
Emerys brother. to produce the bank
books showing the condition OF their
finances last February. Early in the
month Mrs. Emery had $2,SoI to her
credit but while $4,000 in Silver King
and Grand Central dividends was de-
posted during February, her account
at Mccormick e Cos. bank was over
drawn 81, 455 on March l. a Deseret
National deposit book was shown, in
dicating that while Miss Louise En-
ery's Grand Central dividends amount
ed to nearly $4,000 a month, her bank
balance was s., 664 on Feb. l, and 81,
664. 50 a few days later Miss Emerys
balance at McCornick's where her Sill
yer King earnings are deposited, was
500 600 in February, but it had gone
for state and county bonds.
More Rich Borrowers.
John Q. Packard objected to being
taxed for $4,000 money on hand, and
TO prove the righteousness of the prop
osition, produced a statement from the
Deseret National bank, showing bis
account overdrawn in March. He was
ready to swear the fact was the same
in February. Mr.. Packard said he loan
ed no money, but rather used all his
he owned any taxable personal property
in Salt Lake county, Mr.. Packard re-
piled in the negative, and added that
the Eureka Hill Mining company's Of
flee furniture in this city was all that
was in his possession. Mr.. Packard
claims residence at Eureka.
Attorney Frank Pierce, representing
Mrs. Mary Judge, swore that his eli
ent's revenue was derived mainly from
fx~i6 shares
amounting to $4,000 a month, but he
maintained it is non-taxable. He added
that Mrs. Judge invested largely in i'm
proved real estate, and applied the
earnings therefrom to pay off mort
cages.
Another large holder of Silver King
stock, Henry Newell, made oath to his
statement that he had plenty of money
on hand one day and owed the bank the
next. On the first Monday in Febru-
airy he owed Mccormick & Co. between
81 900 and 5000. His wealth, exclusive
of his new home, consists of mining
stocks.
Director James Ivers of the Silver
King declared that he owed more bona
fide debts than he had money in bank
to pay them last February. Mr.. Ivers
was allowed to depart in a happy
frame of mind, as the others had done.
Not until Alexander H. Tarbet was
called did the board realize enough
from the citations TO pay the postage
on the notices sent out. Mr.. Tarbet
said he was in New York in February,
dealing in stocks, buying Brooklyn
Rapid Transit long and selling Sugar
short until the market broke.
After a moments hesitation Mr.. Tar
bet remarked: L would not object to
paying taxes on $4,000. l made my
money outside of Utah, and came back
here to live and make investments. But
there are, gentlemen, if you will per-
NIT the observation, several wealthy
persons in Salt Lake and more COM
ing here to reside and invest, and l
hope the policy will not be to tax cap
ital to the extreme limit for that will
discourage money seeking investment"
Responding to the citation to show
cause why he should not be taxed for
$4,000 cash on hand, Jacob E. BAN
berger said he already pays $1,000 n |
year in taxes. Sometimes, he added |
he had money on deposit, and then
again he owed the bank, and now he
had an Offset of $4,000 debt OH which |
he pays interest and taxes.
Il. ID. Millett represented that his !
taxes amounted to nearly $1,000 a year.
He operated largely with eastern
money in making investments for him
self and others, and while he had 81, $50 |
IN hand Feb Z last he then cwed BIZ - |