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Show taxable. The premium account on that date amounted to $ S5,000, and aaid account is on expense account chargeable to profit and loss account, like other expense accounts. Also, that said bank had oa that date received re-ceived in the regular course of business real estate mortgages to the amount of $40,000, that said mortgage were taken in accordance accor-dance with law to secure pre-existing debts. That the banking-house, lurniture, and fixtures fix-tures of said bank were valued on that date in the sum of $112,902.07, and that bond premiums were not separately assessed. That the bank is the owner of sundry other parcels of real estate taken for debt and on foreclosure, which are separately assessed. THE Oi'EXIXO ARGUMENT. The attorney for the bank opened his argument by saying that there were six national banks in this citv, with a combined capital of ?2, 050,000. Witnesses had estimated esti-mated that monev amounting from $3,000,-000 $3,000,-000 to $S,000,000 was loaned on real estate mortgages and which the law provided should be exempt from taxation. The shares iit national banks must also be taxed against the shareholders and not against the banks; but they- cannot be assessed to a greater proportion than any other capital, and it is claimed that as there is so much other capital that is not taxable, it renders a great discrimination against shares in national banks and the decisions of supreme courts are that where there is so great a discrimination dis-crimination the tax is not collectable. The further chum was made in advocacy of a reduction that there is an unequal Valuation Valu-ation between bank property and other property. It had been stated that real estate is not assessed at more than 60 per cent, aud if this was true, the banks were clearly entitled en-titled to a reduction of 40 per cent. In his opinion also lie believed that bank stock should be assessed at its par value and not at its selling value. hoge's replt. In reply the city attorney said the national banks had no nsrht to loan out money on mortgages to exempt their property from taxation. He also claimed that the assessment assess-ment value of real estate was no basis on which to assess national banks and in support sup-port of his theory read a supreme court opinion which he believes covers the cage at issue. Judge Sutherland closed the debate and also quoted from a supreme court decision in a like case, which said that when national bank stock was assessed at ita full valuation and other money property was assessed in accordance with a local law, the banks could Salt Lake Dramatic association 700 00 Mary S. Blackmore 79 IU Pioneer Kollimr Mill -V.fi 50 Jospphine Hardie 68 20 J. F. Dunn Sfc! 06 Dunn & Other 48 33 Moon Jt Mitchell 10 Sarah A. Hardie 41 30 S. H. Leaver : Parley P. Pratt 82 S'O Robert Patrick. 22 40 Sarah A. Curtis.., 17 50 N. C. Chrictlanxon 8 50 Marcaret F. Yate 47 ) Henrv C. Barreil 12 25 Robert Sherwood 42 00 Charles Maner 4 '. William C. Cahoon 30 8) A. V. Davis 6 i 85 E. L. Anderson 77 70 Salt Lake Mill & Elevator Co Ellen Everi.l 20 Mary Lee Bower 5 14 REDUCTIONS RECOMMENDED. The assessor recommended the following reductions, which were ordered, in the valuation valu-ation of property on State street, above First South : ... , A?- X til dement, de-ment, tion. Abbie T. Clawson $23,0l'0 $ 5.7i.O JeunenttoT. Snell S.00O 2,500 Charlotte T. Young 8,0r0 2.500 Camello C. Cobb 10,5tX) 2,500 C. I. Kerby 10,800 2,500 H. A. Partridge 10,00 2,iU M. E. Cumminss .' 2,0300 5,300 Emma D. Klierbeck 22.1K 0 K.OijO S. L. Sprairue 34,100 ll.UiO S.L.Spr;!rne .". 21,(K) 7.KW Nanbie T. Clawson 8,000 2,500 REDUCED OX ACCOUNT OF ERRORS. I pay so much of the tax as is proportionate to the valuation of the other property and enjoin the payment of the rest. His maic point was that it made no difference whether a mortgage was held by a national bank or a private citizen. If one class was exempt from taxation, there was no good reason why the others should not be. ADJOURNMENT. An adjournment was then taken until tomorrow to-morrow at 3 o'clock. fi eduction. J. F. Mar... $ V0 Patrick Mulvaney 3.0iX) Theo lSurmester 2,000 F. D. Ciift 770 J. A. Heins 150 James Rowan 1,H00 Lucy J. Thurston 2,100 Trewhela & Anderson WO W. R. Jones, jr 300 E, 1! . Freedman 2.0C0 Robert J. Knight 100 Ezra T. Stevenson 1,HU0 Fannie Shimming 509 S. J. Lvnn 500 T.' McKean, jr G?orge L. Fisher 500 Ifenrv F. Hapgooi 370 Welter C. Squires 1,500 Henrv l!e sen 2,H00 Arthur E. Clark l,7tS0 Alex Burt 4,5)0 William P. Davis 500 Thomas G. Webber 7,200 John Latin K,oo0 Samuel Chittock 700 Joseph Hansen 1,71 Nellie Wall 3,500 Perkins & Co 4'H1 Eliza J. Fox 400 People's Forwarding Company H) H. A. Tuik 'tt 20,400 Caroline R. L-wson 2,000 James K. Parego 3 O G. F. Houghton 5t) Rodney C. Badger 2,5(0 E. G. Holding 580 T. II. Clavton 400 Thomas E. Ta lor 2,200 Edward Brooks 1,200 Mana C. Dougall f.50 Sarah J. O'Connor 350 William S. Romney 350 Martin S. Lindsay 760 Marv Ann Dnnlap 3.500 John W. Williams. '8S0 Julius Thompson.. !,fi00 8. J. Clawon 2,500 S. A. Woollev l.ftKt Lvdia C. Heath 6.N00 Ellen M. Butler 1,500 Elizabeth H. Anderson 2.HO0 C. S. Barreil 2,700 Rio Grande Western Railway 10,000 Susannah G. Biazier I,b00 THE KICHARDS ASSESSMENT. Assessor Leonard recommended a reduction reduc-tion of $43,000 in the assessment of Richards Bros., of 8154.S0O on account of that firm having: deeded Richards avenue to the city. A committee was appointed to investigate the matter. THE RAILROAD ASSESSM EXTS. There being some doubt as to whether or not the Rio Grande Western and Union Pacific railways had been assessed in an orthodox or-thodox manner on their rolling stock, that of the former being $6000 and of the latter $3000, a committee was appointed to investigate investi-gate the matter. UNITED STATES PROPERTY. The Gardo house assessment was stricken from the rolls because of being the property of the United States. The assessment of the Temple Ward Reiief association was also rescinded re-scinded on account of the property being devoted to charitable purposes, and AV. A. Passavantwas made happy by having the assessment on a lot cancelled for the same reason. A TELEPHONIC PROTEST. In response to a citation George Y. Wallace Wal-lace of the Rocky Mountain Bell Telephone company appeared before the board and stated that the company did not have the amount of money in bagk that the assessor believed it had, and in consequence he protested pro-tested against a raise in the assessment. Ou January 1 the company had 4168.65 on deposit de-posit and on July 30, 12,033.11. He also claimed the assessment upon stock, etc., was too high. A committee was appointed to investigate. in-vestigate. XEARIXG THE EXD. The board adjourned to meet Saturday evening at 7:30 o'clock, when it is expected the reports of the various committees will be submitted and all business disposed of. I BOARD OF EQUALIZATION. THE BAXKEHS' PROTEST. The banking committee of the city board of equalization held another meeting last evening, and Judge Sutherland, as attorney for the protestants, submitted statements which made the following showing: State Bank of Utah Paid-up capital stock, $500,000; "surplus, $25,000; assessment, including in-cluding real estate, $535,000; value of real estate and improvements, $59,72O.S0. Utah National Bank Capital stock, $200,-000; $200,-000; surplus, $20,000; mortgage notes, $04,SS8. - Union National Bank Capital, $400,000; surplus, $-ti,000; mortgages on real estate, $133,040.70; real estate, $18,000; U. S. bonds, $17,'.00. American National Bank Capital, $250,-000; $250,-000; surplus, $25,000; loaned on real estate, $100,000. ' Business Transacted at Its Meeting Last Night. The city board of equalizations at last sees daylight ahead, for next Saturday they expect ex-pect to finish their labors ou the assessment roll of 1892. At last night's session the following fol-lowing business was transacted: KEDCCTIOXS ORDERED. Total Asset- Bfdic- tnestt. tion. George Cole $ 3,000 $ 400 Ruth Cope 4,)0 1,200 S W. Eccles 11,000 700 Martha S. Adams 1,W0 H) Clarinda Graves 2,150 1(K) Robert W. Sloan 1,570 872 T R.Ellerbeck 4,tW SOO .Tames Anderson 3,220 620 M. Benedict 10.71O 2,'-OJ Twelfth Ward Relief society 4,200 4,2iO W. A. Paavsnt, jr 8,0 3,300 William Lnngdon 15,ti00 1.H00 Equitable Co-op 34,400 4,400 J B. Toronto estate 25,250 1,500 John M. Dolan ,J0 1,500 Thomas C. Armstrong 1,6W 250 Joseph F. Groesbeck 25,200 6,000 P. F. Collier 1.700 700 George H. Tavlor.. 9,300 1,000 Robert Patrick 4,1W 1,2-10 Eil L. Sloan 4,2(0 HO Robert Sherwood 6,1 o,000 Francis M. F. Brown 20.1 l.fioo Owen Roberts '. 10,400 WK) Godbe-Pitts Drug Co 40,000 16,000 William A sper t Co 12,350 1,000 Claus P. Madsen 1.250 100 Mary O. Atwood 4,200 750 Elmer Spafford 2.700 ti'Hl Charles S. Burton 13,850 1,000 Km ma Whitney 4.030 1,220 Nedtr & Cleland 5,500 J,500 Alexander Watson ,000 1,200 R R. Anderson l(i,X) 3,H0 Elizabeth N. Anderson.? 1,500 750 Albert Fisher 51,500. 6.0J0 CLAIMS REJECTED. ( Tax. John D. Wright $ 41 30 William Glaseman 7 00 B. A. M. Froeseth . 42 Commercial National Bank Capital, $300-000; $300-000; surplus, $25,000; loaned on cal estate, $2ro0.2o. THE BASIS OP THE CASE. In submitting its statement the State bank made the following claim: "We rest our case upon the unjust and unlawful discrimination discrimi-nation against us as compared with assessments assess-ments of other moneyed property. We have examined the assessment roll a nd.find real estate es-tate assessed as a rule at 50 to 60 per cent of its value. A large portion of moneyed property, prop-erty, aa money loaned on mortgages, is exempted ex-empted from taxation. We are assessed at full value of our capital and surplus. The discrimination is obvious. Taxes to be just must be equal. Ours are unjust, unlawful and unequal." ANOTHER CLAIM. The Commercial National bank filed the following with its statement: From which surplus and undivided profits should be deducted the amount paid as premium pre-mium on United States bonds which are not |