The Princeton union., 1900-04-26

are to be taxed under Sec. 1880 Stat
utes OF 1894. Our supreme court in the
case OF State against Duluth Gas and
Water Company rs N. W.. Reporter
p 1882. has clearly defined the law on
this question. The president, secre-
tary, or principal accounting officer,
OF any company or association, whether
Incorporated or not, (other than rail-
road, insurance, telegraph, telephone
and banking corporations, whose taxa
tlon is otherwise provided for), is re-
qulred to make out and deliver to the
assessor Il sworn statement setting
| forth,
lst. Name and location of company.
End. Amount and number of shares
of capital stock.
3rd. Amount of capital stock paid
4th. The market or actual value of
capital stock.
9th. The value of its real property,
if any.
| 9Th. The value of it's personal prop
erty
Subdivision five (5) of section 1880,
relating to deduction OF. debts, is left
out Of the statement because the :su-
preme court, in the decision referred
to, has declared that provision uncon-
stitutional. Assessors should insist
upon this statement from every COM
pany or association whose capital is
represented by shares of stock. Re-
mem Der that this statement is required
in addition to the regular personal
property schedule which is required of
every property owner. To illustrate:
Ii the market or actual value of the
shares of stock is $40O,0 and the real
and personal property amounts to
$500, 200, the remainder, or $l0O, 900, is
to be assessed under Class % of the
personal property schedule, as ''stocks
and bonds" In other words. the com
pany's total assessment for taxation is
$40O, 600 divided, say, 100000 on real
property, 100000 on personal prop
erty in tangible form, and 100000 on
stocks and bonds under Class 23
| send blanks for the statements of
officers of such companies. Hereafter
each county will be expected to furnish
th ese blanks along with the other reg.
ular assessment blanks, but this year I
have thought it best to send out these
blanks, the form of which has been ap-
proved by the attorney general. |
hope that assessors will insist upon
securing statement on one of these
blanks from each and every company
or corporation subject to taxation un.
der the provisions of sec. $780, statutes
of 1894
CORRECTION OF ASSESSMENTS AND
ABATEMENT OF TAXES.
In conclusion I would urgently re-
quest assessors to perform their work
OF assessing. honestly, impartially. in
telligently and thoroughly. Every
thing depends upon the assessor. And
| sincerely hope that you, Mr.. Audi
tor will make it your business to have
the county board Of equalization cor
rect, as far as possible, any sins OF
omission or commission on the part of
assessors and local boards of review.
Let us reduce the number of applica-
tions for correction Of assessments and
abatement Of taxes from thousands to
hundreds. Right here I wish to give
notice to all concerned. and especially
to property-owners, that if they fail to
see that their property is properly
listed for taxation, they, and they
alone. are to blame. If any property
owner has a grievance, the proper
place to have that grievance redressed
is before the local board of review.
Hereafter, few applications for abate-
1nent Of taxes will run the gauntlet OF
this office. Very truly,
r. c.. DUNN,
State Autitor.