The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1907-01-09

sept A, 1906, tho fonowfng amounts
were upon deposit in the banks of this
state other than national:
Deposits subject to check, s141S9,-
46S.92. certificates of deposit, S13,951,.
403, cashiers checks, S32.s00.s5; total
$2S,1TS,661.77.
It shows the following assets be-
longing to the same banks at the same
time:
Capital stock, s4,148,175 surplus.
s643,5S5.23; undivided profits, S1,457,-
647.37; total, $6.249, ,40760.
Upon what valuations are these de-
positors paying taxes? Let us see.
Table XXX. page 2S0, OF the auditors
report for the year ending June 80,
1906, shows the following total as
sessed valuation for 1905 and 1906 OF
moneys other than of banks. bankers,
brokers and stock jobbers:" 1906.
s7S3,764; 1905, s678, 100; and the fol-
lowing total assessment of credits OF
banks (other than those whose capital
is represented by shares of stock.
bankers, brokers and stock jobbers: !"
1906, sol, ,156: 1905, $123,936.
Shares of bank stocki 1906, ST.
472,525; 1905, s2,351.447.
Credits other than of banks, bank
ers, brokers or stock lobbers:" 1906,
s618,707; 1905, s677, ,722.
Great Discrepancy In Fl5ures.
It will be noted that the enormous
figures shown in the report Of the pub
lie examiner do not include the figures
of national banks, while the small
amounts given to the assessor, as
shown In the auditors report, includes
all banks. Attention cannot be divert
ed from this by dwelling at length
upon the small value placed upon
household furniture in many counties
"a class of property which always
sells as secondhand goods and has no
earning power.
The franchises of public service cor
porations are of very great value and
the law prescribing rule for assess
ing the property of these corporations,
whose property Is a kind possessed of
marvellous earning power, ofnits all
reference to the value OF franchises
aid In fixing values no reference Is
made to increased value Of that part
of the property of these companies ly-
| Ing within towns and cities, where
they have depots, machine shops, en-
larged grounds, sidetracks, general
Offices and personal property OF great
value The terminal grounds and de-
rot buildings of the Burlington and
Missouri River Railroad company and
| of the Chicago and Northwestern Rail-
road company, with rights of way In
the cities Of Deadwood and Lead
worth thousands of dollars, are valued
under the law at the same rate per
mile as one mile of single track over
| the open spaces of land In Custer or
Fall River ar Pennington counties.
Mineral Lands Undervaiued.
With one OF the richest gold mines
| In the world In it's midst the average
| value of lands In Lawrence county Is
| only $9166 per acre; the total number
of acres of mineral lands in the county
is 44,700 and the total assessed valua-
tion thereof $3,90S,235.
With 2,734 miles of Western Union
Telegraph lines in the state assessed
by the state board at $4,000 and
20,723 miles of telephone wires In the
state assessed by the same board at
$780,293 and the property Of the ex-
press companies assessed at $139, ,29S
and the Pullman company assessed at
$22,500 we find all this property going
entirely fra~s of road tax because the
tax levy is made upon it by the state
board exclusively and no equivalent to
| the road tax is levied at all.
Referring to railroad valuations
Governor Crawford says 1t should be
made the duty of the board of railroad
commissioners to employ experts for
| the purpose and to collect authentic
and reliable information concerning
| the actual value of the railway prop
critics in the state, not only for the
purpose Of making the same basis
| for rate schedules, but for the purpose
also of giving the state board OF as
| sessment some independent and reli-
able information of the real value of
| these properties. The law enacted
| two years ago giving the state board
of assessment authority to take such
means and measures as may be neces-
sary to ascertain, discover and place
upon the assessment rolls taxable
property omitted or concealed, should
be made effective by making an appro-
priation which would enable this board
to employ an agent to go out over the
state and make a personal investiga.
tion of such cases and report the
same to the board. earnestly rec
ommend this subject to you as one OF
! the greatest importance, demanding
effective legislation at your hands.
A New State Capitol.
The present statehouse was built by
the citizens of Pierre In 1889 between
Oct. / and Jan. 7, 1890. 1t was donated
to the state. So likewise was the
ground upon which 1t stands donated
to the state by the Western Town Lot
company
This wooden building, hastily con
structed, without cost to the state, has,
with some additions and repairs, been
used as a statehouse for sixteen years.
All of the records and archives be-
longing to the state are all crowded
INT fhfc b,41Hinu A fipn pnan cfart aS