The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1912-01-02
QUITE A
DIFFERENCE
10 Number Of Companies
Now Listed In Ohio
And Liable For The Payment
OF The Excise Tax
As Compared With Few That
FuliingtOD Listed
Splendid Record Of Banking
Department Of Ohio
Property Of State Inventoried
For The First Time


Auditor Fullington reported to the
State Tax Commission there were on.
ly 38 sleeping car, freight line and
equipment companies in Ohio liable
for payment of the excise tax. The
previous year 40 such companies paid
the tax there being loss of two cor
porations in one year according to
Fullington.
In 1911, The State Tax Commission
by impartially administering all tax
laws has certified SO sleeping car,
freight line and equipment companies
for payment of the excise tax, thus in
creasirg the revenue of the common
wealth many thousands of dollars.
The report of the tax commission
this year discloses that for many
years 5S sleeping car, freight line and
equipment companies did business in
Ohio without paying a dollar of taxes,
although there was statute to reach
them.
Why was it that few of these cor
porations were made to pay the excise
tax, and others were permitted to
stand taken by the corporations when
called upon to donate for campaign
expenses? 1t is a well known fact
that In Cincinnati, the Cox gangsters
used the taxing power to perpetuate
their rule.
The collection of this excise tax
formerly was entrusted to State Audi
tor Fullington and many are wonder
ing why SO many corporations failed
to pay 1t when enforcement of the
law was entrusted to the state auditor.
There are many Republicans, who
fear that Mr.. Fullington would not
withstand the withering fire that
would be directed at his record dur
ing campaign and he will be opposed
when he seeks denomination.
Clark Metzger, of Stark county, has
announced he will try to get Fulling-
toms scalp, and there will be other
candidates.
The people of the state are to be
congratulated upon their very efficient
state banking department says Fin
ance, the official publication of Ohio
Bankers. The banking department of
Ohio has made a splendid record, COM
mencing with the organization of the
department, and we believe that we
5ave today as efficient an examination
Of state banks as has any state In the
Union.
Ga special interest to the people
ss the dplendid way in which the pres
ent superintendent of banks is hand
hing the liquidation Of banks. Before
the passage of the present law, banks,
which for one reason OF another had
TO close, were placed in the hands of
an assignee or receiver, and the ex-
pense attendant upon their liquidat-
alton was enormous and out of pro-
portion to what 1t should have been.
The position Of an assignee or recelv-
er was looked upon as great sine
cure.
Conditions, however. have changed
and Just how greatly they have chang
ed 10 seen In the closing of the doors
Of the bank of Pleasantville, a small
institution near Columbus. This bank
was in solvent condition, but WAS
forced to close on account of the con-
nectioa of one of its directors with the
Union National Bank, Of Columbus, an
insolvent institution. The bank of
Pleasantville was placed in the hands
Of the state banking department afer
a short run. Later it was re-opened
and We are assured that the total ex-
pense involved in the closing of this
bank was $1,000. The state banking
department has made records of com
rlete liquidation of banks where the
expense has been infinitesimal.
The feature of our banking law
which gives the state banking depart
ment the power to liquidate institu'
tions will be worth thousands of dol.
lars 10 depositors of Ohio institutions