The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-28
MUST Ply ITS JUST TAX
GOV. LIND TAKES ACTION TO AS
SESS STANDARD OIL
PROPERTY
PAY FOR BACK YEARS ALSO
Company Has Moved Its Offices to
Observation-Disclosures 1t Has
Faid No Tax on Prop
erty Here.

Gov. John Lind yesterday took prelim-
nary steps to have the property of the
Standard Oil company listed for taxation,
as heretofore the corporation has escaped
payment in Minnesota. In a letter ad-
dressed TO G. /. Fort, city assessor OF
Minneapolis, Gov. Lind calls attention to
the fact that the company his hitherto
escaped bearing its just burden of the
public tax. The modus operandi followed
by the trust is to organize in different
states and surrender the stock of the CEN
trail company, and in turn issue trust GER
tiicates. The value of these certificates
is, the governor states, in the open mar
ket computed at several times their face
value, and he suggests that the real value
of the certificates be taken as a basis for
taxation
The company moved its offices to Mime
apolis a year ago, but as it is still heavily
interested here Gov Lind also sent let
ter to County Auditor Johnson, giving
that official an official tip.
1t is quite likely that the governor S
communication viii be very promptly CON
sideled, as in the last paragraph he says
that prompt action will relieve the neces-
sity for any action on the part Of the
state board Of equalization.
Gov Lind's letter to County Auditor
johnson viii doubles result in the corpo-
ration's property being listed for taxation
not only for the current year. but for q
number Of years back, as authorized by
a law passed by the legislature a year
ago. The company's business in this state
is OF large proportions, and the collection
OF the current, as well as back, taxes will
mean many thousands of dollars to the
state treasury.
Gov. Lind's communication to City As
SCISSOR Fort of Minneapolis, IS as follows:
Dear Sir: The Standard Oil comnanv
corporation of the state of Minnesota
was incorporated in 1887, with a capital
STOCK OF NOo000 In 1890 the capitalization
was increased to $5GO,000 Until last year
Its principal office has been in the citv
OF St Paul. but I am advised that the
oInces We're removed 20 your city some
tme IN July last year, so that the prin-
CIpdl. oIHc@S OF the corporation are now in
the city of Minneapolis.
nder the provisions of the Standard
Oll trust whose trust agreement is pub-
HShed in the record of the Ohio cases
10 De found in our state library 1t APP
pears that when the trust was organ
lied one Of the terms of the agreement
was that corporations to be called the
9laN4aId OH company of the state in
Whlch Incorporated should be incorporat-
ed from time to time in the several
states OF the Union, as the trustees might
Gfect and as the business interests of
me trust might suggest that the capital
A@u"n OF the state corporation formed
should be the equivalent of It's property
anu lnSJrumentalttieS for carving on
BUSINESS IN the state where so incorp0Tat
ca. mat so soon as the new .corporation
W~s Incorporated, pursuant to this agree
Hcnt' the stock Of that CORPORATION in
SNCeSS OF me number of shares eouaI tn
the number of directors of the cornora
ut ~ should be transferred to the trustees
OF the standard Oil trust, who would is
sue IN neu thereof trust certificates for,
'At same lace value Of the shares so de-
POSTED. IheSe trust certificates. it an
pears. are now quoted at from three TO
I'VE JneS their face value I on'y men
Ign TINS to suggest to you the basis for.
!He valuation of the comDany's property.
lllaSlnuch as their, Capitalization is only
$500 600 in this state. This corporation is
tiediiy subject to taxation in Your civ
pursuant to the provision of section 1890
OF the Revised Statutes, the same as
other corporations
NY excuse for calling your attention tn
lh.s matter is the fact that it has come
10 my knowledge that his Corporation
WAich IS probably doing as large and lu-
cfabEe a business in this state as any cor
porauon engaged in business in it, has
Allhelto escaped taxation. shall com
muncaJe with the county auditor of th;e
county with reference to extending tax9
by law. I'll GU
Hoping that this may receive your at
tenI0n and relieve the state board of
equalization of the burden of taking If
up am, yours truly,
st. Paul June q. ~ u -ioi