Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-06-26
County Commissioners Make
Some Heavy Advances
Over Last Year.
BANKS CLAIM INEQUALITY.
Clearing House VIII Meet Ia Consider
The Question OF Taking the Mat.
ter Into the Courts.


tetnoon decided q number of protests
against the assessments made OH prop
erty this year by the county assessors.
1t was decided to exempt all the hos
pitfalls Of the city on the ground thai
they arc charitable Institutions but
the banks aud jewelers. did not fare
very well, the assessment of the lat
ctr being increased while the latter
were reduced somewhat from the orig
NAL assessment this year, with the eS-
ccptiun OF Mccormick & Co.'S bank
which was increased almost three times
the first assessed valuation. Nearly all
are heavily increased over last years
figures.
The action OH the part of the board
has caused considerable comment IN
business circles, but as none Of the
county commissioners could be found
today, nothing definite could be learned
as to the reason for the increases, or
of the apparent inequalities a deputy
in the assessors office stated that the
only conclusion to be drawn from the
action of the board was that the
bank of Mccormick & co. mad always
been under-assessed, hence the board
decided To increase il from S25j, iij to
S6Soo0 which they considered falr
valuation on the capital stock, the UNI
divided profits and surplus OF The
bank.
When the assessment was made thls
year the banks were assessed the tull
value of their capital sctock Instead
of 70 per cent as heretofore. The
bankers at once entered a protest
a nrlf f1g IA "A IL
ter was gone into thoroughly by the
attorneys for the banks and for the
board
CHANGES ORDERED.
AS a result of this Investigation, the
board ordered the following changes
from the original assessment.
The Utah Savings & Trust company
$l44,i7s, decreased % Per cent.
The Utah Commercial Il Savings
bank, Sl4JslT decreased q per cent
Salt Lake Security & Trust COM
pany, slSS. l02, decreased 30 1-S per cent,
Bingham State bank. sl5,2lG, de-
creased y per cent.
sordan State bank, $l5,7S5, decreased
20 per cent.
Sandy city bank, decreased 20 per
cent. $500.
Murray State bank, decreased 90 per
| cent. S2O0S4.
First National bank at Murray, de-
| crea sed $23,S0o.
Deseret National bank, s70.2s9. de-
| creased 10 per cent
Commercial National bank, sl6S, 1876,
| decreased 10 per cent.
Utah National bank, sll+.750, de-
! creased 10 per cent.
state Bank of Utah, $3l6,113, de-
| creased Is per cent.
lions Savings bank. $50, SSl, decreased
/ 10 per cent
Deseret savings bank. sI69l5, no re-
duction.
! National Bank Of the Republic. $685.
! OBS decreased 10 per cent.
! Walker Bros. bank $685. decreased
| % per cent.
The board also decided to increase the
assessment on the jewelry stores as
| follows:
Leyson, from s42, 600 to s75. 600; Litch-
enstein, from $4,000 10 $4,000, Boyd
Park. from $4,000 TO $4,000.
BANKS MAY FIGHT
If the temper of some OF the leading
banks this morning may BE- taken as
an indication. the assessment, ordered
| by the board will not be accepted with
out a struggle. There is open talk OF
taking the matter into the courts, and
| II this is done It win tie up, pending
| litigation. "a vast amount Of cash
| which is always the first and foremost
! to be paid 20 the county treasurer
when tax time arrives. 1t Is estimated
| that the total sum paid In taxes by
the banks will reach $4,000.
MR.. McoRNICNs VIEW.
w s. Mccormick, head OF the bank
ing house OF Mccormick Il Coz was
asked this morning, what action ne
proposed 10 take In reference 20 the
raising OF his bank assessment H.
said that while he considered the act
of the county board az entirely un-
called for unjust and as not giving
him fair dca he was not then pre-
| pared 10 state Just what course he
would take ~ the matter. However,
he would say that he did not propose
! TO cit idly by without doing anything
in self defense.
MEETING TO BE CALLED.
{. S. Burton, president Of the local
| clearing house, which comprises al ~
/ the commercial hunks OF tho city, said
| that a meeting Is 10 be called at one"
| to consider the tax question Legal
! advice had already heon obtained and
/ the opinion of lawyers was mat the
| assessment against the bankers could
I be successfully attacked on the ground
| OF inequality. One banker stated that
| IN assessing the bankers 80 closely iu
! actual cash values. the board of equal
Izatlon was simply acting as board
| OF disqualification, as AN Impartial III
| qury would show mat In any CorpOr
| atlons, mercantile houses ana great
deal of real estate I'm the city WA ma,
| taxed more than 80 10 60 per cent 0l
! their values. The same banker sand
| that II the rule ~ 80 10 90 per cont ~
the full values must apply 10 one SET
of taxpayers. n should apply 10 al,
SERIOUS QUESTION.
Al the peseret National bank, who's
taxable totals lead IA the list OF th,
banks, President Hills was not In, but
Cashier III s. Young said 10 the News
| representative thar the question was
serious one for an bankers. The Des-
erct National last year paid for state
county, silly and school taxes {2t530
Al the proposed increase In values,
even n the same tax rate prevailed
and everyone looked for an advance
the additional tax on the institution
would be- $1,000 Another officer %,
The bank stated that the enornity oi
the amount which tho Institution
would be called on 10 pay. could best
he realized when II was known that
! the total Cocnty revenues received N
seven of the counties Of the state
only reached $500 900 last year, These
are Emery, Kane, pute Rich. snl
.suan, Washington and Wayne. ana
The total tas which the new ruling oil