Omaha daily bee., 1902-12-06

plus, $4,000 of undivided profits and real
estate valued at 1928, 900. There had been
no sales Of stock, he said, for three years.
but the book value of the shares was S1.15.
He believed the stock would sell for 100
cents. He said he would consider S400. 600
a fair assessment Of the property or MS
bank. The most recent dividend had been
declared in 1898 and the amount paid was
1 per cent.
Mr.. Drake gave the capital stock of the
Merchants National bank at $500, 0OO; sur
plus, 800 900; undivided profits, $25, 900, and
real estate, 5000, 900. The real estate. he
said, was valued too high by $50, 900 or $751;
900. The book value of stock, he said, was
$1.22, but that he did not consider a fair
valuation for purposes OF taxation, and he
thought the assessment should be fixed at
20 or rs cents. Some discussion as to real
estate led to the statement on the part OF
the board that the real estate would be de-
Quoted from the amount of the stock In
the assessment OF banks, but that no bank
would be permitted TO put one valuation
upon its real estate for that purpose and
a lesser one for taxation as real estate.
Mr.. Drake stated further that his bank had
on October 1 last paid a quarterly dividend
Of / per cent. In this connection he OBJ
served that the bank had regularly paid so
per cent as much tax as 1t had dividend,
which caused a general laugh.
Mr.. BARLOW and His Bank.
On the part of the United States National
bank Mr.. Barlow acknowledged $4O0, 900
capital stock, 800, 900 surplus. 5000 OF
undivided profits and real estate amount
ing to SIS, 100, He said the book value OF
stock was 1925, but a sale had been made
recently at S1.1O. The last dividend was
ten years ago. OF the real estate mentioned
in his statement Mr.. Barlow said that
SIS, 900 was carried in another corporation,
and the board then informed him that that
portion would not be deducted from the
amount Of the banks capital stock. When
asked what the bank wanted in the way OF
a reduction Mr.. Barlow said he desired to
have the amount fixed at 5000, 900 II il was
to be on a sliding scale and subject to
further manipulation, but II it was to be
fixed by agreement. as last year, he would
consent to 1915. 700 as representing full val
uation in relation to the 40 per cent valua-
tion of last year. Mr.. Barlow said that
the banks had agreed TO the assessment OF
last year, although at that time convinced
hat they were being required to pay from
80 to 80 per cent more than any other class
Of business houses operating on the same
amount Of capital.
Nebraska National statement
Mr.. Yates OF the Nebraska National
bank said his institution had now 5000. 900
Of capital stock. there having been a re-
duction Of 80 per cent since last year.
The surplus. he said. was $50, 600, the I'M
divided profits $4,000 and the real estate
$4,000. He said there had been no sales
Of stock for many years, but the book
value was sl.25 OF 1925. OF the $50, OOC
surplus, he said see. 900 was premium on
bonds and should be deducted. He said
he expected to be merely treated as
the rest of the banks and assessed on the
showing made.
The capital stock Of the First National
was given by Mr.. Davis as $500. 900, the sur
plus 800 900, undivided profits 81, OOC
and real estate $1S5 900. He said he was
willing to have the stock put in at the book
value and that a small sale had been made
a short time ago at $3.50. The last dividend