The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1909-07-27
TAXATION OF
COUNTY BANKS
A Falling Off Of Taxable
Property Of County's Fin
ancial Institutions.

ancial Institutions.
TRUST COMPANY MAKES GAIN
Morris county's banking institu-
tions have submitted their annual
statements Of taxible property to the
county tax board. Several of the
banks have availed themselves OF a
change in the law and invested in
Inon-tazable securities among them be-
ing the National Iron bank Of Norris
town that last year was taxed on $780,
279 or S22 per share and this year re-
ports nothing taxible; the First Ma
tional bank Of Morristown, last year
S2ls,66 or s1.09 per share and this
year nothing and the Citizens Ma
tionatof Netcong and the First Ma
tional of Rockaway had no taxable
property last year nor this year.
The Morristown Trust Co., places
its taxable property at S1,546, ,247, or
one-tenth Of the total taxible property
of Morristown. Last years figures
were 1916, ,251. The Dover Trust Co.,
is this year S28, 900 and last year was
S45, 500.
The First National of Butler has
jumped from 1928, 100 of last year to
s34, 1922, the only bank in the county
to show an increase. The Madison
First National has shrunk from S37,-
$50 last year to Sl4,43 the Dover
National Union from s13l, $50 to s115,-
l26 and the Boonton National from
S1l1 ,007 to S54, ,773.7S.
The detailed figures are as follows:
National Iron Bank, Morristown.
Capital stock, 5000, 100000
Surplus, 100000
Undivided profits, 17,8l2.25
Total, s267, ,s12.25
Less non-taxable securities, 2s7,468.75
S0O0,O00.00
Assessed value of real
estate, s25,OOO.OO
No. of shares, 1000
/ Assessable value per share, 5000
First National Bank, Morristown.
| Capital stock, s2O0,O00.00
Surplus, 00,000 90
| Undivided profits, 37,763l9
Total, 1887 ,763. .19
Less non-taxable securities, $50, ,4S4.39
sOoo,oOo.O0
Assessed valuation of real es-
tate,
4 No. of shares, 1000
Assessable value per share, 5000
National Union Bank, Dover.
Capital stock, Sl25, 10000
surplus, 250,00000
Undivided profits, 42,l26.o0
Total s4l7. l26oo
Less non-taxable securities, 280000.00
$l37, ,126.0O
Less assessed value of real
estate, 100000
$115, 1860
, No. of shares, 1850
Assessable value per share, $500
Dover Trust Company.
Capital stock, $1,000
Surplus, 5O,OO0OO
Undivided profits, 1O'i5O.OO
Total, sleo. 10000
Less non-taxable securities, 1872, $4,000
8 100000
Boonton National Bank.
Capital stock, 800, 100000
Surplus, l00,000.00
Undivided profits, 5,20l.52
Total, zoe, ,2ol. 50
Less non-taxable securities, 130, 427.74
s74,773.7S
Less assessed value of real
estate, 100000
s54. 4.773.7S
No. of shares, 1000
Assessable value per share, s54.0O
First National Bank, Madison.
. Capital stock, s50,OOO.0O
: Surplus, 35, 100000
= Undivided profits, 12,933.oO
; Total, s97, ,933.OO
Less non-taxable securities, 72,50O.00
ii s25, ,433.0O
, Less assessed valuation of
!, real estate, 100000
sl4, ,433O0
. No. of shares, 500
q AsSessable value per share, $28.
Morristown Trust Company.
, Capital Stock, 5000, 10000
Surplus, 300, 10000
+ Undivided profits, 1,241, ,334.00
Total, S2,14l 1884. 90
Less non-taxable securities, 595,087.O0
!, S1,546, ,247.OO
; Less assessed valuation of
: real estate, 100000
81, asa, ,247. 90
Less assessed valuation Of
e house and lot, S,6O0.00
81, I,45O, ,647. 90
. Mortoapes. S3O7. .I25. 90