The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1922-03-02
BANKERS WILL
PAY JUST TAX,
THEY DECLARE
Representative Bankers Here
Discuss Matter With State
Officials
OFFER is FORMALLY MADE
Supreme Court Ruling Virtually
Exempted Bank Stock
From Taxation
OFFER is FORMALLY MADE

twenty-five of the REPRESENTATIVE
bankers of North Dakota held a con-
terence mere this morning for the pur-
pose of considering the offer they
would make to the state administra-
tlon IN payment of their just share of
taxes for 1920, 1921 and 1922, .0
Under the recent ruling of the state
supreme court the banks of the
state both state and national, are ex-
empt from all taxes on personal pro-
perty, although their real estate is
taxable the same as any other real
estate. The total amount of tax money
,A'oived IS estimated at about 100000
lor 1920 and about $6S5,OO0 for 1921 or
! total of nearly $1,4OO,OO0 The de-
clslon also leaves the state without
my law under which the banks can be
TAXED for 1922. The bankers under
the ruling, would not be called upon
to pay any part of this tax and could
not be compelled to do so, but the
bankers assembled here this morning
took the attitude that they should not
seek to evade their fair share OF taxes
Just because they could legally do so.
The meeting was for the purpose of
arriving at some decision as to what
would be fair payment.
Decide on Offer
After discussion lasting nearly
three hours the bankers decided to
make an offer to the administration,
to pay taxes for 1920, 1921 and 1922 on
the basis Of class two property. This
1t was estimated by those in attend
ance at the meeting, would put bank
property on an equal or higher basis
than other personal property. The tax
on bank real estate is not involved, and
they would pay on it at the same rate
as other owners of real estate pay.
Offer Merely Tentative
The proposed settlement is merely
tentative as yet, for it must be approv-
ed by the administration. Governor
Nestos said other members Of the ad-
are meeting with the
bankers this afternoon and they will
either accept or reject the offer, or
possibly reach some different basis
Of adjustment.
The administration is not in posi-
ton legally to collect any Of the tax
due, and it has no basis for 1922
taxation. The bankers took the posi-
lion that they could not afford to be
made to appear as tax evaders, even
though they had the legal right to re-
fuse to pay any tax.
If the offer of the bankers is ac-
cepted, they will pay approximately 40
per cent Of the taxes levied and as
sumo all costs of litigation. II the Of
Ter Is refused, the state will collect
nothing.
Many Bankers Here
Those present this morning includ-
ed. H. c. Beckwith, H. C. Gearey,
Fred A. Irish, George H. Hollister, A.
). Divet and W. C. McFaidden of
Fargo; John G. Gunderson of Aneta,
E. J. Lander of Grand Forks, August
Peterson of Harvey, G. F. Peterson of
New Salem, M. r. Porter of Minot, v.
Blanding Fisher of Deils Lake, w. F.
Hanks Of Powers Lake, j. J. Nierling
)f jamestown, W. Fl. Stutsman Of
X. S. Johnson OF Mandan, c.
Green Of Cavalier, A. L. Martin Of
Sentinel Butte, Paul Remington of
Bismarck, J. l.. Bell of Bismarck, r.
R. Wolfer of jamestown, S. G. Severt-
son of Bismarck, L. R. Baird of Dick
nsOn, O. N. Durham of Bismarck and
e. A. Sevareid Of Velva
The executive committee held a
meeting in the parlor of the Mckenzie
hotel. A luncheon was served Gov.
Nestos, Attorney General Johnson and
c.. Converse, tax commissi sioner,
we're invited as guests. The hotel was
made their headnuarters.