Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-08-31
law, and resolved any doubt in favor Of
the stat and Of the people.
ssJOFIN HERRIOTT,
= treasurer Of State.
tDated. August "a. 19OO.',

the @Iays ana OF (uS pS0Ql6.
John HERRIoTT,
Treasurer OF State.
dated: August q, 1901 4
THE MAJORITY VIEW.
The majority of the executive council
gave out the following statement de-
Tending the assessment Of August "a:
The bill itself provides that the COM
Spanies among other things shall report,
under oath the specific real estate, to-s
igether with improvements thereon, and
all bonds, mortgages and other personal
property owned by said company, Sit
suated outside OF the state of Iowa and
used exclusively outside the conduct of
the business It must have been an
sticipated by the lawmakers that at
least some of these companies owned
real estate, bonds, mortgages and other
personal property, which We're used ex-
clusively outside of the conduct of the
business. Otherwise they would not
have asked that 1t be reported. The
Indiana law to which reference has
been so frequently made requires the
companies to report their real estate
only.
THE bill also expressly provides that
from such sworn statements or other
wise the actual value of the several.
pieces of real estate and all bonds and
mortgages and other personal prop
erty situated without the state Of Iowa
and used exclusively outside Of the
general business of said company,
which said actual value shall be by the
executive council deducted from the
gross actual value of the property of
the company. The author of the bill
lacqliesced in the proposition that it
was the intent thereof to allow these
deductions. The statement written out
While he was present before the council
and in which he fully concurred. left
| the sole question to be determined the
fact as to whether the banking inter-
ests of the Wells-Fargo Company and
1.-The bonds, mortgages and personal
property reported by the other COM
tpanies as being used exclusively OUT
! side of the business We're in fact so
owned and used. He contended that
| the sworn statements of the companies
We're insufficient evidence. Unless these
lsreports, made in pursuance of the stat
ute, are to be accepted as true, in the
absence Of evidence impeaching their
veracity, then there Was no occasion to
require the companies to make their re-
ports. 1t is idle to ask report and
then presume it to be false.
The question, the test, is not
whether the bonds, mortgages and
1 other personal property earns divi-
dends for the stockholders; but whether
! it is used exclusively outside of the
/ business. There is no doubt that the
| interest on this half million and more
government bonds, as well as the in
come from the other securities, helps to
swell the dividends. but that does not
raise the presumption that they are
used in tie express business. If the
express company owns 800 horses that
are used in the express business their
i3value must not be deducted but if they
the plains, or in any other business
than the express business, the statute
ssays thei4 value shall be deducted.
1t is Urged that ii was the duty of
the council to carefully examine into
| the matter and ascertain the correct
ness of these reports. The council con-
I sists of four members, and it is a S much
4 the duty of one to Investigate as it is
4 another, and before the assessment was
Il made the question was asked whether
any member of the council desired t.
4 submit to the companies any further
Inquiries pr investigate further as to
i the truthsof these reports, and each and
leyery3 member of the council expressed
himself as&desiring no further time or
to make any further Inquiries. One
member of the council requested the
Isecretary to write and ascertain
1 whether these bonas and mortgages
! had been listed at the home office for
taxation. This inquiry was sent to the
4 proper authorities. but as might be ex-
1 pected was never answered. and even
1 tho the answer had been returned that
4 they had not been SO taxed ii would not
4 relieve the council from the statutory
requirement TO deduct their value if as
4 a matter of fact they We're used wholly
4 outside of the express business. The
i statute does not say that the property
shall be deducted that has been listed
A for taxation elsewhere, but it does say
that bonds. mortgages and all personal
4 property used exclusively outside5of the
express business shall be deducted
4 There being no evidence as to the use
made of these bonds and mortgages by
Il the companies other than the reports
and none obtainable without going tc
i the home office of the several com.
panies, and since the statute directs the
Iscouncil to find the facts from saiG
statements orSotherwise the council &C.
4 cepted the Statements and found ac.
Icordingly.
The Indiana law allows an exception
4 only Of real estate and is made ap-
4 plicabie both to telegraph companies
and express companies. The supreme
court of Indiana in; case entitled
4 Western Union Telegraph Company VS.
4 Taggart, 14l Indiana, Isl, says Only
4 the property within the state of Indiana
shall be assessed and that at Its true
cash value. on appeal to the supreme
court OF the United States that learned
body employed this language 1t is the
duty of the state board of tax commits
4 5sioners to make such deductions en- 5ae-
4 count of a greater proportional value OF
4 the compans's property outside the
4 State, or for any other reason. as 10 as
sess its properly within the state at its
4 true cash value
The Ohio statute of the same import
was also construed by the United States
Isupreme court in Adams Express Com
Ipany VS.. Ohio. 166 U. S. Rep. 222, and
1.-THE court employs this language: III
half of the property of the Adams Ex-