Omaha daily bee., 1902-07-01
BANK ASSESSMENT DELAYED
Mr.. Keuntzs Has Plan Which the Board is
Not Ready to Adopt.
BANK AND ASSESSORS VALUES DIFFER
Proposition Advanced TO Raise the
Valuation on Farm Property and
lake Showing Before
state Board.

The session Of the County Board OF
Equalization with several bankers OF
Omaha late Monday afternoon ended with
out a vote being taken to fix the assessed
valuation OF the banks. Herman Kountze,
president of the First National, sought TO
have the board accept a statement OF bis
bank not made out in accordance with the
boards resolution and the arguments on
the proposition took the time until 8
o'clock, when the board adjourned for the
day, informing the bankers that It would
not fix the assessment without first noti-
flying them.
Wholesale Firms Raised.
Earlier in the afternoon the board raised
the assessors returns on several whole
sale houses, as follows: Ribble Paper COM
pany, from 1880 to 10000; Collins & Nor
rison, from 1880 to s., $50; Marks Bros,
from $1,000 to $1,000; Interstate Rubber
company, from 81, 265 TO S14,5 500; Bruns-
wicke- Bake Collender, from $4,000 to
i0,OOO; A.. Hospe. from 1,O55 to 81, 800;
Collins Piano company, reduced from $1.10O
TO $3.50; Porter, Ryerson & Hoobler, raised
from 81, $50 to 1880; Gate City Hat COM
pany, from 81, $50 to $4,000. Those who APP
peared but whose assessment was left as
It was we're: The Richardson Drug COM
pany, SIC, $50; Her & Co., 1926; Western
Newspaper Union, $3.50. The Reichen-
.lberg-Smith and E.. A. Dayton jewelry
firms were instructed to appear today with
their books.
Terminal Company Cited.
There was fled with the board a COM
plant by the tax committee against the
Omaha Bridge and Terminal company as
easement and Attorney Mcintosh limited of
$40 nm ~, a. -o..tbI, oa1Aggpaant G0ttro
declaring that would not be too high, as
the company's property properly includes
the Illinois Central railroad to the extent
OF furnishing its terminal.
The bank controversy was precipltated,
TO a certain extent, by the attitude of
Henry w. Yates, president Of the Nebraska
National, who rebels this year against
longer tolerance OF an alleged discriminate
ing method that resulted last year in his
bank paying a tax OF s13 per share. while
the First National bank paid but Sc per
share.
Mr.. KountEe's Plan.
This year Mr.. Kountze asked to be per-
mitted to do as he did last year and after
deducting premiums paid from the total Of
capital, surplus and undivided profits. take
one-sixth the total fair value so repre-
scented and from It deduct the assessors
return on realty, which is supposed to
be 16 per cent OF the actual value.
This was not in accordance with the re-
quest of the board and the commissioners
could not accede. Their resolution had
required that the realty Of the banks be
deducted from the total at it's full value
as shown on each banks books. The whole
controversy hinged on the fact that the
First National bank is carrying its realty
ut less than six times the return OF the
Bssessor. In fact, Mr.. Kountze let drop
the remark that as rated by the bank 1t to-
tails $155, 1856. "a. This statement, IL cor
Tectly understood by the board, makes 1t
an easy task to show where the county
would lose II the board rescinded its res
Olution and adopted Mr.. Kountze's plan.
May Raise Farm Values.
Farm owners OF Douglas county may
receive attention from the Board of
Equalization that will mean a raise in
the assessed valuation of their holdings.
Attorney Mcintosh said to the board
yesterday: Permit me to cal! your
attention to the fact that the county pre-
cincts should be raised in assessment that
the county may make a uniform showing
when 1t goes before the State Board OF
Equalization. That board will necessarily
consider the realty valuations of the
inherent COunlleb anu IL we snow mat
you have made an effort to get valuations
IN general to somewhere near the right
figure It will be that much easier to get
the state body TO properly recognize the
difference between this county and those
others that are assessing at one-tenth the
actual value or similarly low per cents.
The state cannot in fairness expect Doug
Jas county to permit itself, assessed at one
sixth fair value, to stand a classification
with other counties assessing on the lower
basis"
The only considerable raise made by the
sessment Of two department stores. Hay
den Bros. had been cited to appear with
their books and stand trial, but William
Hayden told the board that rather than
enter into a prolonged controversy of that
kind his firm would stand an assessment Of
$4,000, which is the same as that of M. E.
Smith & Co., a leading wholesale house.
The board approved the figure. Last year
the assessment was $40. 1000 and the asses
sor's return this year was $22, 100.
Brandeis & Sons OF the Boston Store an
nounced a willingness to stand a raise in
proportion to that of the Haydens and their
assessment was accordingly made $31, 000.
Last year It was sic, 900 and the assessors
return this year was ST., $50.
On July 4 the Erie Railroad will run a
special thirty-day excursion to Chautauqua
Lake. The fare from Chicago will be only