Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-05-15
INK IAN AARh0N|Z[D
OWNERS OF CAPITAL STOCKS
> AND ASSESSORS NOW HAVE
BASIS OF UNIFORMITY.
BANK SHARES NOW a
ASSESSES TO OWNERS
Holders Must Pay Taxes, Instead OF
corporation-court Holds There 10
No Discrimination in Different Meth
DDS as Between Private and state
and National Banks-

and National Banks
Special to Times-Republican.
Des Moines, May 15.-Assessors and
fax eatherers as well as owners OF
bank stock and other forms OF capital
will be glad to know that the laws or
the state are now in such shape as to
establish a fair degree Of uniformity
and to avoid the determinations which
have, in the past, caused muddle as
to these laws. The effort OF the thirty
fourth general assembly to stralghten
out the assessment laws as to bank
stock has now. the o. X. OF the state
supreme court. For number OF years
it had been quite q problem how to fix
up the taxation of bank stock and dodge
the constitutional questions.
The law in question just passed on
provides that the shares of stock of
national bank shall be assessed to the
owners Of the stock who must pay the
taxes. The shares in a national bank
at Jefferson were so assessed. A case
came to the court and was submitted
4 year ago. The owners of the stock
attacked the constitutionaltty Of the
statute and said it conflicted with the
federal rule as to stock OF national
banks not being Disseminated against
by any state. In the case of private
banks and moneyed capital. for in
stance, there shall be deduction because
of non-taxable holdings. but not SO
with the state and national banks
Therein was the alleged discrimination
The court holds there is no discrlm-
ination. because it must be kept in mind
that it is shares of stock that Is as
sessed and not the property of bank
while in the case of the private banker
it is property that is assessed and not
shares of stock.
lit is clear enough" says the court
under the decisions that deducting U
S. bonds from property of the private
banker in assessing his property in.
volved no discrimination against share.
holders of national banks. All the
shareholder can demand Is that his
shares be taxed at the same rate az
the property of the private banker. The
bonds are non-taxable and certainly
reference could not have been made t.
these in exacting quality. The dis
elimination Is prohibited as to propert!
which may not be taxed, and there j!
none under the state statutes between
that on the shares and property of tn
private banker which may be taxed
Nor does such discrimination result
from the deduction from property as
eessed against the private bank stock a
distinct entities or items of property
little difficulty Is experienced in reach
Ing the conclusion that no discrimina
ton, such as is prohibited by Sectio
5219 Of the revised statutes OF tn
United States is effected by chapter
of the acts Of the Thirty-fourth genera
assembly"
The supreme court has just take
under ady1sement the case from Boon
county involving the building of ney
court house on the site of the ancien
one in the old town of Boonsboro. Tn
county voted bonds and contract wa
let. Taxpayers sought to have a ne1
and better site selected as the presen
one is a mile and half from the bust
ness center of the county seat. TIL
plans for the new building were dis
approved by the architect or enginee
and instead Of following his advice tn
board discharged him and let the con
tract under conditions which it is de
clared forbade any real competition
The lower court held it up with an in
junction.
The supreme court listened all da
yesterday to attorneys in the case ir
volving the insurgency in the Moder
Brotherhood of America and the effo1
of the insurgents to get control of tt
mailing list of the order so as to pul
sue the attacks ON the present officer
Judgment against the officers is aske
and receivership. The fight starte
at the Brotherhood convention in Der
! yer four years ago.
Recent weather conditions in low
have not adversely affected the app
crop, and reports from various Sc,
tons of the state made to Secretal
Wesley Greene, of the state horticu
tural society show very little change
to the estimate on that crop. Iowa W
+, have its usual fine crop Of apples.
The reports show some dropping
in percentages as to the strawberri
and grapes, because Of the recent fros
Z which affected only low ground, hoy
Ever.
The early adverse conditions as
the red and black raspberries a
showing still further bad effect on tt
crop and there will not be many Of t
berries. The cherries are reported
be not setting as well as had been int
Gated by the bloom Of last month.
Other fruit crops remain unchang
e A pamphlet Is being prepared In
office Of attorney general by Henry
Sampson for distribution in the st;
4 to show what are the new laws in
gard to temperance matters. ]
& pamphlet will show the laws as tt
will exist after Jan. next when
new statewide prohibition regime g.
into effect. The pamphlet will be 6
notated and with explanatory notes
III there. can be no misunderstanding
g to the new legislation.
The report Of the state board
rs health on the record of deaths In 10
for the month of February last, ]
out, shows that tuberculosis and pm
monia and similar ailments are
sponsible for surprisingly large p
portion OF the deaths in this state.
OF the 1923 deaths reported tn
were 1OS due to some form Of tuber
ioeis Or disease Of that nature.
There were $50 deaths due to yari
diseases Of the respiratory organs,
eluding 23o to pneumonia
Organic diseases Of the heart CLAN
9le and cancer 1877. There were fift
n reported deaths from railroad accide
NJ = that month.
~ to age the largest number
49, <6< ~