Omaha daily bee., 1905-08-02

which the assessment vas made. The case
for Douglas county looked much brighter
at the close OF the hearing, when Governor
Mickey announced that a decision would
be reserved until tomorrow.
A slight increase OF from to 10 per cent
was practically acquiesced in by Reed, but
County Commissioner MI. Kennard, who
also appeared before the board. took the
stand that any increase would be unwar-
ranted. During the morning there was
some talk among the members OF the board
of making an increase on merchandise
ranging from % to 3 per cent but the
sentiment was not so pronounced at the
close OF the hearing this afternoon.
After each OF the witnesses had been eN-
amined Reed was careful to ask him II he
had any personal knowledge, and the reply
was generally that he had not but was
speaking from his judgment of the stock
that would be required.
The reasoning Of Mr.. Yates, the shoe ex-
pert for Mayer Bros. of this city, was
typical He said that he thought the mer-
chandise assessment OF the Drexel COM
pany at 1900 was too low, because he
thought that it would take a much larger
that he had heard that the company
claimed to do $4,000 business a year and
he thought that Il could be turned over
not more than three times, intimating that
the stock should have been listed at go
900. He was another Of the witnesses who
said that he would take the testimony OF
the men concerned under oath. Finally,
under cross-examination by Reed. he ad-
mitted that his knowledge was indefinite
and based largely on rumors of what the
Drexel company was doing.
Touch on the Grscers.
Judge Tibbetts told the board what the
grocers would testify to. They were l. NJ.
Raymond, AL Hargraves and Peter Lau.
He said that they did not want to appear,
but would have done 30 II called. He said
that they would testify that in their opin-
ions the stock OF Allen Bros. assessed on
a 5000 900 basis was worth $4,000; the
McCord- Brady company, assessed on
1913, 900 basis, from A50,OO0 to $4,000, and
Paxton & Gallagher, assessed $4,000, from
$3.50, 900 to $500, 900.
Tibbetts insisted that Paxton & Gallagher
did a 100000 business year, and claimed
that II was a safe rule to go by that the
stock was not turned over more than five
times In a year to do the business. He
least 8, ,OOO,O 900 a year and measured by the
same rule were under assessed.
County Commissioner Kennard called at
tention TO the fact that much of the stock
of Paxton g. Gallagher was held in branch
houses in this and other states, so that
the computation would not be safe one
to follow.
Several other witnesses were examined
as to Omaha stocks. ]. z. Riggs of the
Riggs Drug company was examined as to
the Omaha druggists and Elmer e. Henkle,
president of the Lincoln Hardware COM
pany, testified that he thought the assess
ments of ]. Morton & Son and the Dunning
store were about right. but he thought that
the value of the Baum hardware stock was
100000 while It is assessed on the basis
Of S51, 900. Asked whether he would take
the word of Baum under oath. he said he
would believe him, but said that he would
buy the property at a 10 per cent advance
on the list price. Mark H. Tilton of the
Wisconsin Coffin and Furniture company
was questioned as to the value of similar
stocks at Omaha without evincing any more
positive knowledge than the rest OF the
witnesses.
Mr.. Kennard, who was placed on the
stand, testified that the assessment of realty
in Douglas county was high. but he was
not so certain about merchandise. He
said that the realty was high enough to
make up for any shortage in the merchan-
disc.
Little Cash Coming I'm at Present.
This is the dull season in the state treas
ury, for, with the exception OF the outgoing
warrants, there is little business done. State
Treasurer Mortensen said today that until
the personal tax balances begin to come in,
late in the fall, the income will be COM
paratively small and there will be use for
the $24s. s.213.4S in the permanent school fund
for the purchase of current general fund
warrants offered. In the meantime but
few warrants can be redeemed by the gen.
eral fund.
The July statement issued today by the
state treasurer shows that the total bal
ance at the end Of the month was $685.
7SS.O4, as compared with 33,52.55 at the be-
ginning. The balance in the general fund
at the close of the month was $4,2O9 80. The
balance sheet for the month OF July fol-
lows: