Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1921-03-12

7 cred sufficient to support the assess
= or's valuations, but never the less thu
board of review made a sweeping re
duction on the bank stock assessment
and reduced same from s125 ,00.00 al
, fixed by the assessor to 500, 00.0O de
duction of s25, 10000.
The said bank does not now seem tC
be satisfied with this deduction, but
asks that further deduction from the
value of the bank stock be made tot
amount of IS, 10000.
There is nothing to indicate that the
deduction now claimed of IS, $50. 90
was not included in the deduction
of $25 10000 as fixed by the board
of review: and furthermore the
records show that the assessment
on the bank stock, as liked by
the board of review was paid by the
bank without objection or protest, and
in my opinion this constitutes a vol
untary payment, and claimant cannot
now be permitted to complain.
/ Tie record shows that the assess
ment of IS, 5000 against the real es-
tate of said bank was paid under pro-
test. but in my opinion this protest
aValls nothing; 1t IS not the assess
ment against the real estate that is
objected to, but the assessment on the
bank stock. because the assessment
was not reduced by further deduc-
ton of SIS, 5000; however, as said be-
fore, the assessment on the bank stock
having been paid voluntarily it is too
late to complain now.
| might also add hat the real estate
described in the claim as filed being
''the east One-half of lot l and the
west 80 feet of lot Is, all in block /,
Northern Chief Iron COmpanys second
addition to Hurley, owned and occu-
pied by the bank for the banking bus
mess Is erroneous, and does not de-
scribe any real estate used by claim
ant or any one else for banking pur-
poses.
am of the opinion that this claim
constitutes no legal or equitable claim
against the city OF Hurley, and rec
ommend that same be disallowed.
Respectfully submitted
A. l.. Ruggles
City Attorney.
City of Hurley, to Iron Exchange
Bank, DR..
To taxes levied and assessed against
the stock of the Iron Exchange Bank
for the year 1920 in excess of what
should have been assessed by reason
OF the failure to deduct the assessed
value of the real estate used by said
bank in carrying on its business from
the value of said stock, aud paid by
said bank February 31st, 1921 ,$21l 90.
The basis and foundation of the
above claim against said city is as fol.
lows:
That during the year 1920 the Iron
Exchange Bank was and still is a
banking corporation organized under
the laws of this state, and during said
year was engaged in carrying on and
conducting banking business in said
city of Hurley.
That in so carrying on and conduct
ing its said business the said bank
owned and occupied building, and
the real est tate upon which the same
is situated, described as the east one
half of lot and west 80 feet of lot Is
all in block of the Northern Chief
Iron Company's second addition to
Hurley, in which said building it
maintained its Office and transacted
it's said banking business.
That in said year 1920 the said build
ing and real estate was assessed to
said bank, the assessed value placed
thereon being the sum of IS, l50. 90 and
the tax levied and assessed thereon
being the sum of s211.90, which said
tax was paid January S1st 1921. That
during the year 1920 the assessor of
said city also assessed tue shares of
stock of said bank and placed a value
thereon of 500, 10000 and thereupon
tax was levied and assessed against
said shares of stock and the tax so lev
led and assessed was paid by said
bank in January, 1921.
That in assessing the said shares of
stock and placing said value thereon
the said assessor failed and neglected
to deduct from said value so placed
thereon by him the assessed value of
the real estate so owned and used by
said bank in conducting its said bank
ing business, as required by law, and
by reason of the failure and neglect
of said assessor to deduct from the
assessed value OF such shares of stock
the value of said real estate, the said
bank was obliged TO pay and did pay
the sum of S2ll.90 in the way of taxes
in excess of what it legally would have
been called upon to pay If the assess
or had deducted the assessed value of
said shares of stock the assessed value
OF the real estate so owned and used
by said hank.
Wherefore the said bank makes
claim against said city for a refund
of the taxes so paid by it in the sum
/ of $2l 100.
Iron Exchange Bank
BY ID. c. Owen. Its Cashier.
State of Wisconsin,
County of Iron
! ID. c. Owen being duly sworn says,
that he is cashier of he Iron Exchange
Bank and makes this veriiication on
/ its behalf. That he has read the fore
going statement of claim by said bank
against the city of Hurley, and that
said claim is just. true and correct.
That said claim has not heretofore
been presented TO said city and no
part thereof has been paid.
ID. {. Owen.
~ Il