Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1913-08-22

Improvement Of navigation or for the
development of hydraulic power on
any navigable stream.
Section SO. This act takes effect
when published.
Approved Aug. I. 1918. Copy Law.
No. s2s 81 [ 7ss isl %a A oH = 1919
io5sa, 1o77m, 1851, 1os7-4lm
and 1852 Of the statutes; and to
revise and amend sections ces1 d doza
1057o, 1072a. 1o77a. 1879, 1870.
1o77j. 1o77k, lo77is 1851, ios7-sl.
1878. 1os5-44 1os7m4b. 1os7m4s.
81, 1os7-55 and 10s7-5s of the stat
utes, relating to assessment Of taxes
and powers and duties OF the tax
commission.
The people Of the State of Wisconsin,
represented in Senate and Assembly.
do enact as follows:
Section /. Section 1042a Of the stat
uteS is repealed.
Section 2. Section 1o42b Of the stat
uites, created by chapter 324 Of the
laws of 1911, is remembered to be Sec
ton 1042a, but without affecting section
1042b as 1t existed in the statutes OF 1898.
Section 8. Section 1042i Of the stat
utes is amended by striking therefrom
the words "a state board of assess.
ment" and by inserting in lieu thereof
the words: tax commission"
Section 4. Sections 1912 and 1851 of
the statutes are consolidated and
amended to read: Section 1851. /. Up
on the demand Of the assessor, the
president, cashier or other officer in
charge Of any bank shall make
out and deliver to the assessor annu-
ally on or before the first day of June
verified statement showing the num-
Der and par value Of the shares OF
stock, the names and residence Of each
CT a
first day of May and the amount OF
stock owned or held by him on that
day. =
g. All the shares Of stock of every
. bank or banking association
whether organized under the authority
Of any law of this state or OF any act
of the congress of the United States
= shall be assessed and taxed in
| the assessment district in which such
II bank is located for the trans
action of business.
8. The shares of stock in any =
| bank shall be liable to assessment and
| taxation as personal property and
shall be entered upon the assessment
| roll in the names of the several own
| ers, separately from the assessment Of
other personal property assessaDle t to
shares of stock and the taxes thereon
shall be separately entered in the tax
| roll.
| Section s. Section 1857 of the stat
utes is amended to read: Section 1857
! In the assessment Of shares OF
stock In any bank the
assessor shall first determine the total
according to his best judgment If the
building in which such bank main
tains it's offices and transacts it's bust
ness be owned by such bank, the as
sessed value thereof including the
| land upon which 1t is located, if owned
by such bank, shall be deducted from
the total value Of such shares. The
! remainder of such total value, or the
| whole thereof if the bank does not own
| such building, divided by the total num-
| Der of such shares shall be taken as
! the valuation for assessment of each
| of such shares. No deduction
| shall be made on account of any other
real estate in the assessment Of the
shares of stock 8 of any bank.
Section 6. Section 1057a of the stat
| utes is amended to read: Section 1057a.
stock in - any bank shall be
lien upon such shares from the time
of the assessment on the preceding
first day of May, which lien shall be
taxes and the lien therefor may be en-
| forced by any officer having author
| fly to collect such taxes by levy upon
and sale of such shares of stock under
his warrant for the collection thereof
Such levy may be made by delivering
to the president or cashier of such
bank, or to any other person who has
at the time the custody of the books
| and papers thereof, notice referring
to such warrant and stating that by
virtue thereof he thereby levieS upon
such shares of stock, designating the
number Of such shares, the name of the
person to whom assessed and the
amount of taxes thereon, for the pur-
/ pose Of making sale thereof to satisfy
such taxes in the manner provided by
law. In making sale of such shares
under such warrant it shall not be
necessary for such officer to exhibit or
have in his possession the certificates
or other evidences of such shares. Up
on making such sale the officer shall
issue duplicate certificates of sale In
the manner specified in section 1900 Of
the statutes and the purchaser at
such sale shall be entitled to all the
rights and remedies given in said Sec
ton 1890 to purchasers OF shares OF
corporate stock upon sale under execu
tion
Section T. Section 1057b Of the stat
utes is amended to read: Section 1057b.
Any = bank is authorized to pay
such taxes on the shares Of stock In
such bank and shall have a lien from
the preceding first day Of May upon
the shares of stock for the amount of
the taxes so paid with interest and
! for any costs or expenses incurred
Herewith or any such bank may at it's
option pay such taxes for all the
stockholders in such bank out Of it's
earnings or Othef aVallaDle resources
as the expenses Of such bank. y y
Section s. Section 1057c of the stat
utes is amended to read: Section 1850.
The taxation of the shares of stock in
= - banks as provided in sections
y 1861, 1867, 1057a and 1057b, shall
be in lieu of all taxes upon the capital,
surplus, property and assets Of SUCH
banks, except as hereinafter provided,
II 81 except that no real estate owned
by any bank or banking association
or constituting the whole or any part
Of it's capital, surplus or assets shall be
exempt from taxation.
Section 9. Section 1072a of the stat
utes is amended by striking therefrom
the words: ga state board of assess
ment' in each separate place in said
section where those words appear;
and by inserting in lieu of said words
in each of such places the words: "the
tax commission"
Section 10. Section 1077a of the
statutes is amended to read Section
1077a. The assessment and determine
ton of the relative value of taxable
property in the several assessment
districts Of any county made by the
county board under the provisions OF
section 1919, + a. * of the statutes may
be reviewed, and a REORGANIZATION OF
the value of such property may be
ma Ia nv the tax commits siOn