New-York tribune., 1912-01-04

now declared to be just. a direct state
tax and the secured debt tax. THE local ad-
ministration of tax laws" II Is said, "has
been strengthened by statutes providing
for the separate assessment of land and
buildings in all the cities of the state: for
the assessment OF real estate in all the
towns and villages, TO be made against
each parcel. lot or farm, regardless OF the
name OF the owner: for a uniform and
equitable rule OF equalization by county
boards of equalization, conforming to the
rule employed by the State Board OF
Equalization and by changes in the form
OF the roll"
The expediency Is recommended of allow
ing by general law some larger measure
of home rule to the local subdivisions OF
the state in determining the distribution
of their local expenses upon local prop
erty; also that study be made, with a
view of devising such equitable amend
ments of the present statutes as will put
a stop to present abuses, without defeat
ing the original purposes OF the statute
authorizing exemption of savings bank de-
posits from taxation.
Taxation Of Manufacturing Corporations
The Governor continues:
The act of 1857, under which We tax the
surplus tools and machinery of manu-
featuring corporations, Is i'm urgent need
OF such amendment as Will make iii uni
form throughout the state in It's applica-
ton, and a better revenue producer. while
at the same time giving more encourage
ment to capital seeking investment in
manufacturing, The Court OF Appeals has
ruled that this statute presents most
extraordinary confusion OF ideas and read
literally. leads to most absurd results
that under 1t the assessors Of our more
than fifteen hundred cities, villages and
townships have no law or rule to GUIDE
them In ascertaining the value of capital
stock and surplus The assessment; there there,
and guesswork, the tax Is imposed with
great inequality and much unius' discriml-
nation throughout the state. depending en-
tirey upon what the local assessor. un-
guided by any rule, chooses to do in I'M
posing or waving 1t.
For many years Pennsylvania and other
nearby states naye SPehby bNst nad SGaSus
ing condition of our laws to untax the
machinery, tools and other personal prop
erty of their manufacturing corporations
The result is that New York and for
eign capital has invested in manufacturing
in those states In preference to New YORK
to such an extent that New York Is rap
featuring state of the Union. notwith'
standing its superior location and ad-
vantages, and this tendency should bt
stopped,by every legitimate means that we
can adopt.
The federal government tax recently. i'm
posed upon the net earnings or manufact
uTing corporations suggests method OF
state taxation that Is worthy OF consldera
ton as an Improvement upon our present
unsatisfactory statute. The filing with thf
state authorities Of duplicate or the re,
port required to be filed with the, fedora
authorities would impose no additiona
burden upon the corporation and would
afford a definite. certain basis for the I'm
position of IAN that. no matter how mod
crate Il was would produce more revenue
than is secured under the present law
Without being definitely committed, how
ever, to this or any other particular theory
OF reforming our present statute. ] urge
the subject and its importance upon the
consideration Of the Legislature.
The Governor recommends an amendment
10 the Public Service Commissions law de-
signed to place the capitalization or re-
organized corporations. Incorporated pur-
suant to the provision of Section 10 Of the
stock corporation law. clearly within the
regulative power of the commissions. TO
the end that the stock and bond issue shall
be limited TO the fair and reasonable value
of the property taken over. but leaving the
distribution thereof, as heretofore. to agree
ment between the various interests. He
also recommends that the Public Service
Commissions have the supervision and reg
ulaticn over private water companies.
Liberal appropriation for the abolshment
Of grade crossings is urged.
Insurance.
After recounting the insurance legisla-
ton of the last session Governor Dix says:
Licenses to insurance agents and brokers
should. OF right be issued only by the
state. and the Insurance Department
should have power to grant, withhold or
revoke such licenses on definite standards
OF experience and efficiency. The licensing
law Of 1911 is therefore, but beginning.
When proper organization has been
formed and the correct standards ascer-
irninnlnd 10 hI.incr a ll.A,I