The county record. [volume] (Kingstree, S.C.) 1885-1975, 1901-08-22
TEXTILE CORPORATIONS.
The narket Value of Stocks to Form
Basis of Assessment.

ty in the assessment Of property re-
tu-nable for taxation by persons
firms or corporations engaged in tex
tile industries and canals providing
for rent or hire, and cotton seed ol
cen rlDan.es" began its first annual ses-
sion in Columbia last week. The
board is composed of one member from
each county. When the board was
called to order there were 81 Of tie
members in attendance, and they SEN
to be an earnest body Of men. Rich
land is represented Oh the board by
Mr.. G. V. Allworden. The board lost
no time in getting to work, startinT
out by hearing what the cotton mill
and their spokesman, Hon. A. T.
Smith had to say about the matter.
The important sections OF the az
under which this work is being done
are as follows:
Section /. Be it enacted by the gen.
eral assembly of the State of South
Carolina, that all individuals, firms, or
corporations engaged, or that may be
hereafter engaged in this State, in the
manufacture of textile fabrics of any
kind, and canals providing power for
rent or hire, and Gotten seed oil COM
panies and fertilizer companies shall
make their returns of property be-
longing to or connected with such
manufacture as usual for taxation to
the auditor Of the county in which the
property is situated, and after the
same shall be passed on by the town
ship and county boards all such re-
turns. with such comments and sug-
gestiors as he shall see fit, to the COM
ptroller-g general as soon as the time for
making returns has expired.
Sec. 2. That it shall be the duty OF
the comptroller-general to receive and
safely keep said returns in his ONCE,
and the State board Of equalization
shall meet annually at Columbia at
such time and place in the said city
as shall be fixed and notified to them
by the comptroller general, and when
they so convene he shall lay before
said board said returns with such
comments and suggestions thereon as
he shall see fit.
Sec 3. That said State board Of
equalization are hereby authorized and
empowered to investigate and pass on
said returns and to equaliZe the safe
both as to real and personal property
in order to obtain uniformity OF tax
alton upon the property Of such indus
tries; and to that end may adopt and
promulgate such rules and regula-
tions as may be just and equitable.
In case any return 50 laid before said
6 e board is raised by it, then and
| in such case an adjourned meeting
must be fixed by the board for hearing
the party or corporation whose return
is raised and due notice thereof by
mail must be given at said meeting
to said party or corporation.
Sec. 4. That when said State board
shall have finally acted on said re-
turns their action shall be certified to
the comptroller general who shall
transmit the same in so far as it affects
the property Of any county to the au-
ditor of said county who shall enter
the same. according to law, on the tax
books Of his county.
The board organized by the election
of Mr. W. w. Bradley of Abbevile IS
chairman and the comptroller's cleri-
| cal force proceeded to attend to the
clerical duties.
After explaining the objects of the
meeting the comptroller had distribu-
ted among the members in printed
! form complete statement of the re-
turns filed by the various cotton miJs,
ETC., throughout the State, the showing
! being most interesting one
Quite a number of cotton mill me1
were present and the board decided
| first to hear from these genetlemen in
regard to the matter Of the assessment
and taxation OF their properties These
Hearings consumed the time up to 2
O'Clock when q recess for dinner was
taken At o'clock the board rsas-
se1rbfed and there was a discussion
which ended IN the adoption Of the
following resoiutinR offered by Mr.. ".
| W. Kennedy OF Williamsburg:
Resolved, That the chairman ap-
point two eommistees, the first to
adopt plan for the proper and eluit-
| able assessment of cotton mills The
secont4 to adopt and report plal for
the proper and equitable assessment
of cotton eeed Oh mals AMI fertilizer
companies
The committees were appointed as
follows:
Committee on Cotton Mills-James
L. Quinby, Aiken, chairman; D. A.
Geer, Anderson; T. NJ. Gttlejohn,
Cherokee; John r. Cu!p, Chester;
John B. Patrick. Fairfield; ]. Z.
Speegle, GTeenville; J. w. Alton,
Greenwood; J. B. Phelps, Kershaw;
j. Wren Tillman, Lancaster: n. B.
Wannamaker, Lexington; H. H. Folk,
Na.I.L.a-...-.