The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-04-03
TAXSGOMMISSI0NER
g'DILLON'Sf INSTRUCTIONS.


continued !lvst5l lsfrotr, first Page.
bSle{ personal property III and about.
the the vel. Whether the sproSducdo ig
zen orsone hundred sbarrel2 f$per day
there lisa way;5l Lam informed by which
The value Of these producing wells
can be aseertained which value is;
based upon the productive capacityiof
the well. In q well settled5oil pro-
duclng 5aeld, where we'll has been.
tested, ! am told heHvalue OF; the
working interest,$whicli: would be the
cetapltal owned by the lessee, has d
pretty definite value, sal, for lllustra,
ton, $1,000 for every barrel produced
by such well in $twenty:fours hours.
In other words if3A;is hesoWner Of a
lessee on a tract oftone hundredtacres
OF land and has producing wells upon
said one hundred acres. which Yield,
ed him one hundred barrels per day,
after all the royalties are paid, then
The leasehold upon that one Hundred
acre tract should be- assessed at, the
value or price for which hisSright In
the land, which lis the right to take
and and remove the oil, would sell IN the
market. II the leasehold lis worth
$1,000 per barrel lie Should be assess.
ed at 100000, tic the5proluctlon is one
Hundred barrels per day
3$"lil Is likely that In many cases in.
developed leases should not be 5as.
sessed, for Utmost instancesSprobably
the lessee could not sell such a lease
for anything in addition. to the as
sumption by the purchaser of the
rentals payable under the lease.
There may be cases; however, n in
(which an ,lndeyeloped lease is close
10 APPROACHING field or5for other rea.
sons has such a well defined value
that the, lessee could unquestionably
sell the lease to another. who would
assume all the burdens OF the lease
and would pay. sum or money In adj.
dition. Such additional sum would
represent the value Of the leasehold 10
lessee In such exceptional case the
.easehold should be assessed at what
in your judgment is its value accord.
ing to; section twelve Of the assess.
menttlaw.
Machinery In Buildings. i
You will observe in section I3 that
the assessor shall ascertain The value
OF all machinery and fixtures attach.
ed to the buildings and include the
same in the value Of all such build.
inss, and charge the same TO the own.
ler. nnless!i 1t appear that such machin.
cry and fixtures are owned by some
other than the owner of the building,
In which case the value OF such ina.
chinery and fixtures shall be assessed
TO their owner as personal property.
Bank Stock. t.Es
Relatlng TO banks and trust com
panies, the assessor, has instructed
how to ascertain The numberof shares
in such concerns, by whom held ;the
current value thereof. Deduction OF
real estate owned BY the bank must
be made. Instead Of assessing the
seyera! shareholders the atlvisability
| of another plan, that Of assessing the
/ bank or trust company by its capital
stock Is suggested, the company hay.
Ing the right TO elect as TO which
plan.
The assessors, among other things
| are also Instructed TO assess tele
! phone. pipeline, etc, companies this
year. After this year this assessmen,
1 will be made by. the State board Of
public works.
The Instructions cover twenty-three
typewriter pages and exhaustively
cover every detail ofathe assessment
work.
Z b y H. 81 y 81