Omaha daily bee., 1903-04-09
PORTLAND COMPANY W
Denies the Right of Pottnwattnmie
County to Assess Its Cap
ttal stock.

The Portland Gold Mining company Of
Colorado filed yesterday in the district court
its answed to the suit brought by County
Treasurer Arnd to compel the company to
produce it's books and accounts so that
the holders of stock might be assessed for
taxation Of their holdings of stock.
The answer denies generally the right OF
the authorities of Pottawattamie county TO
tax the company, as 1t was Incorporated
under the laws of Iowa solely for the pur-
pose Of transacting business and becoming
an effective Industrial corporation entirely
and exclusively within the limits OF the
state Of Colorado. Further that it was
never organized for the purpose OF holding
property or doing business or carrying on
any transaction whatever within the state of
Iowa, and that 1t has always been assessed
for taxation and paid taxes in the state of
Colorado.
In answer to the demand that 1t be re-
CURED to produce its books and accounts,
the company sets up the contention that to
do so would cause great inconvenience as
the stock is listed on the mining exchange
In Colorado Springs and is constantly
changing hands by sale and purchase, max
Ing it necessary that the stock books re-
main In Colorado Springs at all times, ow-
rus " NhESt GOuSldul lIdusleTS OF STOCK.
Regarding the stockholders the answer
sets forth hat there arc $50 approximately,
in number and they are scattered through
out a majority of the states of the Union,
that some are citizens OF and residents of
Great Britain and the Dominion Of Canada,
that only about 10000 shares of the issue
Of $4,000, 900 are held in Iowa and none by
residents Of Pottawattamie county.
1t calls attention to the fact that nu-
merous other foreign corporations are in
corporated under the laws in Pottawatta-
mie county, but no attempt has been made
to tax them and that the Portland COM
pany is entitled to equal immunity In this
respect with the other foreign companies
and that 1t should not be made the sub
ject OF undue and unlawful discrimination
by this proceeding.
The answer shows that the Portland Gold
Mining company was incorporated in this
county February s, 1894, the incorporators
being T. G. Condor and w. F. Crosby of
New York and Joel T. Vale, H. X. Dever-
eux and w. S. Stratton OF Colorado. Also
that during 1894 and 1895 the company ex-
changed Its entire issue Of capital stock.
placed at 1000, 900 divided into 900. 600
shares for the mining property and that IT
has paid more than 81, 900, 900 in dividends.
The answer is signed by James f. Burns,
president OF the company.
In the district court this afternoon Judge
Wheeler expects to take up the case of
George S. Wright and George Fl. Mayne
against the City OF Council Bluffs. This
is the suit in which Wright and Mayne
lay claim to a certain portion Of Big Lake
park.
This morning Judge Wheeler will hear
the application Of the Omaha Bridge &
Terminal Railway company for an lnjunc-
tion restraining the Mason City & Fort
Dodge Railroad company from crossing its
tracks at Fourteenth street and Ninth ave-
nue..
Arguments In the suit Of the Avoca
Journal-Herald against the Avoca Tribune
were concluded before Judge Wheeler yes
terday and the court took the case under
AMUSEMENT.
E.. f. Sluss OF Cedar Rapids, Ia, attorney
for and partner OF +. NJ. Cunningham. the
tax ferret, is in the city for the purpose
OF bringing suit against Pottawattami
county for the amount due under the con-
tract held by Cunningham. The contract
provided that Cunningham was 10 receive
90 per cent OF all moneys recovered into
the county treasurer through his efforts in
unearthing property which had been con-
cealed or withheld from assessment. There
is due Cunningham under the contract close
upon $4,000, but payment had been refused
by the Board OF Supervisors pending the
litigation instituted to declare the con-
tract null and void.