The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1911-01-31
STATE BANKERS
HAVE HEARING
Seek Change For Tax Assess.
meni Against Banks
crunnl LDD0DTJnNnTuTc
SCHOOL APP0RTI0NnENTs
senate and House Committee Voted
Unanimously in Favor Of Appoint.
Ing State Building Commission and
the Erection al Once Of an Ad.
ministration Building.

ministration Building.
Raleigh, Jan. 30.-The joint COM
mittees Of the senate and house gave
a hearing Thursday 10 delegation
Of North Carolina bankers, including
Colonel j +. Bruton. of Wilson; w.
A. Hunt. OF Henderson; Colonel Chas
+. Johnson, +. C Duncan and H. +.
Liichford, Of Raleigh; F. O. Mason Of
Gastonia. and others who are urging
changes in the revenue act taxing
state banks. The principal change
sought is OF section 80 by which the
manner OF arriving at the tax assess
menis against the banks, this being
that the banks list during June each
year the names OF all shareholders IN
and out OF the stale at true value. as
certained By deducting from the CAPT
tai stock the amount of real estate and
personal property owned by the bank
on which IL pays taxes, and adding
thereto the net amount of surplus and
undivided profits and dividing the re-
mainder by the number Of shares The
net amount OF surplus and undivided
profits shall be determined by deduct
ing from lhe gross amount all debts
owed on accounts OF taxes, accrued
and unearned interest, also an amount
equal 70 % per cent Of the bills re-
ceiyable to cover any bad or insolyent
debts owing il, and also an amount
equal 70 the true value Of any shares
Of the capital stock owned in other
North Carolina corporations upon
which tax is paid by the corporation
issuing the same. The delegation in
sisted THAI in spite OF charges TO the
contrary the bankers are now bear
ing much more than their share OF
the tax burden. They also appealed
for a general equalization of tax val
ues and poin:ed out many glaring
inequalities The joint committee took
no action
Administration Building Favored.
After stirring speeches by Secretary
of State J. Bryan Grimes and ex-
Judge r. W. wins,on the joint SEN
ate and house committee on public
buildings voted unanimously last
night 20 report favorably the bill ap-
pointing q state building commission
and providing for the erection Of an
admins ration building in Raleigh
The imperative need for such a build
ing was emphasized BY the speakers.
Tue BIZ provides for building com
mission Of seven practical business
men appointed ny the governor. au-
thofixes the state treasurer to issue
80 year four per cent bonds not 10 ex-
coed one million dollars vi b which
10 erecs On the square north Of the
capital ) fire proof building FOR the
state departments.
Final Hearing on Avery County
The final hearing on the bill estab-
iishing Avery county out Of Mitchell
and Caldwell has been held by the
joint committees on counties. cities
and towns and they will vote on next
Tuesday afternoon. Several hours
were consumed In hea-ing the claims
u both sides. Dr. Peterson. r. A Eng
ilsh. A A Wiseman and 0.hers argB-
lng agalHS; a division q Mitchell coun-
" ~ the final hearing and promising
- exers their best Efforts 10 have the
county seat moved from BakersyilleI
- Spruce Pine. 7. A. Love. srgulng
Tor Aver county. said Il has for years
been The practice Of the authorities
n Mitchell county 70 keep down prop
eHy assessments and that property ID
thai county is now assessed for no;
more than One-fourfh Of what Il ought
- ~ III guaranteed that II Avery
county IS erea - IT, property would
b. asssssed g ) figure which would
causs to- county ID ~ profitable toI
III state. Instead II running behind
- . paaper county like Mitenell has
ben doing for > long time Others
Who sI,sse FOR Avery county were
judge ~ .. Council. Lieut. Governor.
VI G sesiand. 7. Ray and Repre-.
sentative y r spainhour, ii Burke
county.
Coed Roads Hearing.
AL Lengthy bearing before the Joint.
commits - 81 public roads The bill
Of Senator Boyden creating q state
highway department and the bill OF
Representative Gfief ~ ! state high.
ssy oonmissiUh we're discussed 81
several good roads men, including
state teDlogis Joseph Hyde Pratt.
senator BoydeB and others II was
decided y appoint a subcommittee Of
tso from ne senate an1 three from
ne house committees . examine both
bills and report
school ipporiionmeni.
The apgprtioninrni " the second
one hundred thousand dollars appro.
pflaiion By the state 70 bring al pub.
III sh8a,s I'D 70 ~ four months
minimum term vii g shared b. g.
counties The largest amount goes
q Wilkes which receives sSle2 and
ne smallest . Gates. t25z. The -.
pllcaiious called fof amounts aggregs
ling tls7ss0 This had 10 be- scaled
doNu iht Sieep00 available
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