The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-03-01

cNned D" Sad institution, and dlNide tIe
net amount E.t he number Of shares III
! said institution. Irsolvent debts due said
restitution MAJ be deducted from the
tens OF undivided profits or surplus sworn
10 and forwarded to the. Auditor by the
cashier Of such institution If the Treas
urer SHAH have reason to believe that the
market or actual value as given in is not
IT'S rue value he shall ascertain such
true value y such cxaannation and in
FeStiGatlon as 10 him seems proper, and
change the value as given in to such
amount IS he ascertainb the true value
to be which action on the part of the
Treasurer ma be reviewed by the Supe-
rior Court, BY an action brought against
the state treasurer in his official capacity
by the party aggrieved Bat no action
snail lie until all taxes, admitted by such
2ggrieved party to be due, shall have
been paid or rendered
In listing the shares for State taxation,
snch eank, banking association or savings
Institution shall file with The Treasurer
.cf the Statc statement showing the
name and residence Of each shareholder
the number Of shares held by each, ard
The taX"ble value of such shares as fix
ed BIZ the provisions of this act, which
statement shall be in writing, and sub
acribcd aud sworn by the president, cash
ier or some other officer of the bank.
For the purpose OF aiding The county
commissioners and other municipal Off
GERS in enforcing the law as TO the listing
Of bank shares by the individual share
holders for the purpose Of county, school
and municipal taxation, it shall be the
duty Of every bank or banking associa-
ti3n or savings institution (whcther State
CT nationaD to furnish TO the board of
county commissioners Of each county
wherein any Of its shareholders reside, a
statement showing the names of all it's
shareholders resident in such county, with
the number of shares owned by each and
The taxable value of such shares, ascer-
tanned from the statement hereinbefore
required TO be made BY such bank, bank
ing association or savings institution to
inc Treasurer Of the State 1t shall also
he the duty Of the State Auditor to cert-
fl to the board Of county commissioners
Ct each county wherein any Of said share
holders reside, statement showing the
names Of all the shareholders resident in
such county with Che number of shares
shares as ascertained by the statement
hcreinbcfore required 10 be made by such
bank, banking association or savings in
siitution to the Treasurer of the State
The residents of this State who are
shareholders in any bank, banking asso-
citation or savings institution whether
State or nationaD shall list their respect
i've shares in the county, city. town pre-
c.nct or village where they reside, for the
purposes of county school and municipal
tGxation. Non-residents Of this State.
who are shareholders in any bank bank
ing association or savings institution
(Whether State or NatonaD, located in
this State. shall list their respective
shares in the count, city town, precinct
or village IN which such bank banking
association or savings institution is locat-
cd, for the purposes Of county, school and
municipal taxation. All shares, whether
cVned by residents or non-resdents shall
be listed at the time prescribed fer listing
toyCs,
The county commissioners, list takers
Gad other county and municipal officers
shall have the same power TO enforce the
listing of shares of stock in any such
slitution, whether held by residents or
residents. as thez have for enforc-
ing the listing of other personal property.
The taxation of shares in any such
bank. banking association or savings in
stitution shah not be at a greater rate
than is assessed upon other moneyed cap
it2l in the hands Of individual citizens Of
this state whether such taxation is for
State, county, school or municipal pur-
. osas.
Spcake rMoore called MIR Winston to
the chair when the House went into
Committee on the Whole. The bill was
ordered read section by section
The first section was adopted without
discussion, en- motion of Mr. Bedding
field
Speaker Moore offered the following
to section 2: Strike out
the words tWenty-nine and insert thin
ty-fve, making the poll tax $.35. in
With this, he gave 'not!ce
That hc would rmend section 3 by in
sorting twenty cents for public schools
instead of eighteen making forty-fivc
cents on every hundred dollars of real
and personal property. Mr.. Moore
N''ANt
right. He took the ground that if any
counties should need more money fer
general expenses, they could always
loyy special taxes Those, he said,
that don't want an additional tax for
schools ought not TO impede the prog
less Of the State. Let everybody share
and share alike in this matter Of pub
lie education. What Is going to become
Of the promises we made in the cam
nagn, II we don't make some increase
in The general school tax
Mr. Willard said nc was in favor Of
increasing the school tax, but he did
not think it was riShht TO do so by in
creasing the property tax The lsvying
Of special taxes ought not to be en-
couraged, for that practice caused the
OF property and so per
mitted many counties to escape their
share Of State tax. The proposed in
crease would, he said double the tax
on 50 per cent of the people.
Mr.. Smith eaid that one Of the prem
iSes he made to his people was TO see
that they should not be forced to levy
a SDpQi9I and ha did it without