The Washington times., 1902-07-23
SCHEDULE ANNOUNCED FOR
THE NEW PERSONAL TAX LEVY

through its president or treasurer, shall
pay $500 per aunum In lieu Of tax on the
members thereof for business done or
said exchange.
% ANY broker who Is a member Of a
regularly organized stock exchange To-
Gated outside OF the District Of Columbia
and transactihg a brokerage business
therein shall pay $lOG per annum.
%. II any person or firm shall have
paid the tax provided for banks and
bankers, such person or firm shall not
again be taxed as a broker or brokers.
"a. Note brokers shall pay tax OF 500
per annum. Every person. hrm. com
pany. o. association not Incorporated
except private banks and bankers) that
loans money on promissory notes with
out real estate or collateral security or
advances money on personal property as
security without possession of said per-
sonai property shall be deemed a note
broker provided. that exception shall
be made of cooperative associations
whose business is restricted to the mem
bers OF such associations.
%. Building associations shall make
affidavit of their gross earnings for the
preceding year ending June 80.
26. Corporations other than those
above provided for organized In the Dis
trict OF Columbia or under the laws of
any of the States or Territories Of the
United States chiefly for the purpose Of
and transacting business within the Dis
trict Of Columbia. shall make affidavit
OF the amount of their capital stock and
| It's fair cash value.
27. All other tangible personal prop
erty which has not been specifically ex-
empted from taxation must be accounted
| for herein
rs. Persons. associations. companies,
corporations, executors, administrators.
guardians, or trustees. holding tangible
personal property in trust liable to tax
alton shall fill out separate blank for
each individual trust.
"a Fair Cash Value"
Two questions naturally arise in the
mind of person reading these instruc-
tions. One is. What is "a fair cash
value?'' and. What is a person to do
whose personal belongings are clearly
within the exemptions?
Assistant Assessor Nye yesterday, in
explaining the ruling OF the board as
&c the meaning of "a fair cash value"
as used in the schedule, said:
1T does not mean what the article
would bring at forced sale at auction,
nor does 1t mean the original price paid.
II means exactly what the owner would
regard as "a fair cash value If he could
sell the article at what he thought it is
worth"
Mr.. Nye illustrated his meaning by
reference to the case of man who
had a horse eighteen years old. The
man said the horse probably could be
bought of dealer for $50 but that.
through association. he would not take
81 900 for. Mr.. Nye's instruction was to
list the horse at $50. though it would
probably not bring more than $40 at
auction.
No Statement Wanted.
The property of the ordinary resident
exempt is stated In paragraph 1, and
when the value OF ones property is
clearly within the limit of $1,000 he
should do nothing. He may, If he
chooses, file his statement, but If this
is done by a great number OF citizens
the result Will be TO lumber the files OF
the Assessors Office and give additional
labor TO clerks.
If there is any doubt in the mind OF
the resident as to the real taxable value
of his possessions. the best course
TO follow would be to fill up the schedule
and submit 1t as directed.