Salt Lake Tribune | 1918-11-30 | Page 14 | Abate Taxes on Worthless Stock

ABATE TAXES ON WORTHLESS STOCK Acting as a board of equalization in special, session, the board of county commissioners aba t ed yesterday $?'J0 of the taxes of $37-1 2. "0 assessed against the stock of the defunct Merchants bank. This leaves $2752. 'JO. Abatement of the entire tax was asked by the receiver, on the ground that Us payment, would have to come out of tlift bank's deposits, and consequently out oC the money that will ultimately be divided di-vided among the depositors, the law requiring re-quiring that taxes on bank stock be paid by the bank and deducted from the dividends divi-dends accruing to the stockholders. The receiver represented that tha stock was valueless when the appraisement appraise-ment was fixed last January by tho county assessor on a return made by tho officers of the bank.