The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-15
STOCK OF PRIVATE BANKS
BOARD OF EQUALIZATION POST
PONED WORK OF vALUING
SUCH PROPERTY
REAL ESTATE ASSESSMENT
Increased Valuations General All
Over the State-RIine Owners and
Manufacturers to Appear
Before Board.

10 place valua ton on the stock of
private banks was the difficult task es-
sayed yesterday by the state board of
equalization The problem which puz-
! zled their predecessors, these many
years, is proving equally intricate to
members of the present board The
fact that private banks have neither
! state nor national supervision makes it
an exceedingly difficult matter to arrive
at an estimate of their assets. The in
ternal revenue Office, which is the only
available source of information on that
/ point, declined to enlighten the state
/ board as to the business of the insutu-
tons under consideration After some
informal discussion the board decided to
waive action on the matter until the
schedule of state and national banks is
taken up, when the three systems will he
! discussed as a whole.
An advance of 10 per cent was made in
! goods and merchandise in Ramsey and
Hennepin counties. The same class of
/ property was increased in other cities as
| follows: st. Cloud, 25 per cent; Faribault,
~ per cent; Albert Lea, Is per cent; st.
Peter, 25 per cent; Austin, 25 per cent;
Fergus Falls, 25 per cent; New Ulm,
! 80 1-S per cent; Little Falls 80 -3 per
cent; Hastings, rs per cent. A decrease
was ordered on the same. property IN
/ Mankato of per cent; Rochester, 10 per
cent; Owatonna, 20 per cent; Crooksto,.
: 70 per cent. By request of Senator Nc
i MILAN the boards action in advancing
HEM pm county 10 per cent ON goods
and merchandise will be recons:dered
During the considera ton of schedule
l7-manufactured goods-Joseph McKih-
bin, speaking on behalf of the manufae-
turers of Ramsey county, asked that that
class OF property be given the benefits of
a " rate of taxation.
VALUATION OF REAL ESTATE.
The valuation Of real estate was taken
up by the board at the afternoon ses-
sion. Compared with the figures of last
year slight increase is shown in almost
every case, notably, the value of farm
lands, exclusive of structures and i'm
proVements, was valued at $218 209 Cos in
lSS9; this year the valuation is 1924 613. OS6
Inc average assessment on such land
was $6.16 last year A valuation has not
yet been made for this year. The value
of structures on lands other than town
lots was $685. 604, 995 in 1889. This year
it is $28, 322, sos. The average assessment
last year On such property was $706 The
value of town and city lots, exclusive of
improvements, was fixed at $147, 537, 433 in
1889. slight decrease IS shown on this
! item for 1860, the amount being $146, 537. :
4S5 The value of structures on town
lots was placed last year at 1872, 1870. 1872
This year IT is $96,572, 527 The total as
sessment of the state on real property
as fixed by the county boards is $500, 273,-
O4S, an increase over last years assess
ment, which was SAFE, O7O, 349
The state board of equalization will
avail itself of the power conferred upon
1t by the legislature of 1889 to cite prog
erty holders to its sessions to show
! cause why taxation should not be in
eerased in cases where it seems to be be-
low an equitable basis. Yesterday at
least 200 notices were sent to the various
mine owners and lumber manufacturers
of tie state to appear before the board.
The lumber companies have been asked
to send representa- tives to Wednesdays
session; the mine owners or their repre-
sentatives will be heard Monday, Sept "a
The consideration of banks and real
estate will be resumed this morning.
Senator Mcmillan, of Minneapolis. pre-
sided at yesterdays session.