Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1909-06-29
SOUTH CAROLINA NEWS.

circulating petitions in this county for
the election as to whether or not Gan-
ney will again have the dispensary
claim that they have about 500 signers.
This Is more than one-fourth Of the
qualified voters, and looks as IL they
will succeed in having the election or
dered. Those who are opposed to the
institution claim that no election can
be held in Cherokee county because 1t
Is dry now; but the law provides that
elections may be held in counties which
are dry" provided that four years
have elapsed since there has been an
election upon the question, and as the
dispensary was voted out on Novem-
ber s, 1904, 1t will be seen that it will
be legal to hold another election now,
as more than four years have elapsed
since the election was held. Condi-
tions have been so much better In
Cherokee since voting out the dispen-
sary that there Is little chance that, In
case the election Is ordered, it can be
carried by the dispensary element.
Washington special of June 25, to
the News and Courier: Representative
Aiken has secured a promise from the
navy department to loan the figure
head now on the battleship Soutl: Car
olina at the League Island navy yard,
to the state Of South Carolina for an
indefinite number Of years. It has
heretofore been customary for all new
ships to have some kind Of fgurehead,
but recently it was found that they
served no practical purpose, and they
will not hereafter be placed on any
new ships. Assistant Secretary Win
throp, of the navy, has informed Mr.
Carolina cannot be legally transferred
but will be loaned to South Carolina to
be placed In the state house or some
other suitable place. A better place,
however, would be on East Battery, at
Charleston, where more people would
see 1t in a day than in a year IL placed
In the state house. Besides, Charleston
is soon to be the permanent home OF
some of the biggest ships in the navy,
and Is the place above all others for
the South Carolina's fgurehead.
= Col. John c. Haskell died at his
home I'm Columbia last Saturday morn
ing after brief illness, following a
stroke of apoplexy on the previous
Wednesday. Col. Haskell was a native
of Abbeville county and was grand
son of Langdon Cheeves. Col. Haskell
was an able lawyer and q gallant SOL
dier. He had but one arm, having lost
the other at the battle Of Gaines's Mill
on June %, 1852. He was commander
Of battery Of artillery. During the
day horse was shot from under him,
and as the animal fell his leg was
caught under 1t. He had the colors of
his battery in his hand, and a Yam
kee officer attacked him while he was
down. The officer was armed with q
kell, however, finally ran the officer
through with his sword. Rejoining
his men, he later charged at the head
Of squad Of them into Federal bat
terry and his arm was blown off at the
mouth of the guns. Later he submit
ted to the dressing Of his wound with
out taking an anaesthetic, leaving what
little morphine there was to ease the
last moments of dying private.
Columbia State: Comptroller Gen
eral Jones has written letter Of in
terest to every cotton mill In the state
regarding the assessment Of textile In
dustries. The letter Is addressed to
Mr.. j. II. Morgan, the president Of the
American Spinning company of Green
Vile, and outlines the policy Of the
board. It will be recalled that the
board Of equalization passed res
olution that the assessments Of 1909 be
the same Ss 1908. Questions have
stock on the market value and its ef-
nf nv
might retire any stock from the sur
plus. The letter by the comptroller
general enters fully into the details as
to the position of the board and Is,
therefore, Of general interest. The
letter is as follows: Answering your
letter of the 21st, relative to the val
uation placed by the equalization board
on the property Of your company, /
beg to say that after considering the
return and all circumstances, the
board was satisfied that the property
of the company was actually worth as
much this year as 1t was last, and
therefore fixed the return at the same
amount. You refer in your letter to
the supposed market value OF your
stock on the 1st Of January. This
market value is a guide to the board
in arriving at the value Of the prop
erty of the company, but 1t Is In no
sense conclusive. In the resolution
adopted by the state board Of equali-
zation May %, 1905, minutes, p. 121,
1t was resolved that for the purpose
of equalizing the assessment upon cot
ton mills, the basis OF assessment
should be the market value of the
stock and outstanding bonds Of the
company; but that IL the state board
should not be satisfied that the mar
ket value showed the true value Of the
plant and property Of the company,
they should proceed in some other
manner to ascertain such true value.
Is always of great assistance to the
board in determining the value of the
company's property, but as many con-
siderations other than the actual value
Of the property affect the market price
of stocks, such price can not be relied
on as conclusively showing the true
value of the company's property.
understood you over the telephone this
morning to ask me whether the tax
able value Of the company's property
last year should not be reduced this
year by deducting the value Of stock
bought up by the company and held
In its treasury or retired from issue.
My answer Is that this will not af-
feet the taxable value Of the proper
ty. The tax Is not upon the shares
of the stockholders, as In the case of
banking institutions, nor Is 1t tax
upon the capital stock of the compa-
ny. but is a tax to be levied upon the
actual value Of all property owned by
the company subject to taxation. The
number of shares of stock, and the
value Of each share does not necessa-
rily increase or reduce the aggregate
amount Of taxable property. The
company Is taxed as any individual,
upon the property owned by 1t with
out reference to the number Of shares
of stnck issued hX itn