Show TRING OF BANKS NEPHI DECISION among five opinions handed dawni down september bep ath list 1 bat by the supreme court ul ui utah la Is one ot of much im iia e because of the oct pct that it bete sets a precedent its a to the rights of county boards of equalization in tit tim the of lanky banks within the count leti under the opinion of the supreme court it la Is held thit that the assessment finity be made on the full net of the bank anil anti need not be confined to a basis of the par value of thu the capital stock chis 1 leaves the way open to assess asses a it bank batik on what its it actual cash value may be bo shown to bo be and not on a baste basis of its 11 capit capitalize aliza tion only tao tho opinion was given in tie tle case of the first ration il dank of nephi against 11 christensen Chrls treasurer cr of ju guib ib county and george mi lluu liana hans 3 huiell bell and john ellerton aa as dembs rs of the baird of ution of the tile county llie cupi tino court the bank was the appellant the case having been decided in the loer lo lov er court in favor of the defend an ania Ls and the supreme court affirmed the judgment of the lower tribunal rl the action was am brought by the bank to restrain taj treasurer from collecting what it considered more than a just tax the assessor in assessing the bank took into account not only the capital stock but the total assets of the institution and made the assessment on a basis of a total net assets caf 17 1 this made the amount demanded 45 the bank paid 2047 98 but refused to pay the balance of 1184 56 contending that the assessment was not on a par with in assessment imposed against othir financial institutions and personal pru property perty valuations in the county idank took to restrain the treasurer froal collect frig the balanco balance of the a ax tho the bank went irto the district court and asked a restraining order the lower court tried the matter out and return returned eJ a verdict against the plaintiff dolding that the balance of the asser assessment should be paid tho the barc bar i then appealed to the supreme court contending that the lowr court erred in finding for the defendants fend fenc ants lants because the assessment aas not reasonable the supreme court held that the assessment waa was proper and not out of proportion hence sustained the judgment of the lofter loer court record hag has information that active steps are in progress to establish an indian school at fort duchesne the idea mets with the approval of tho the indian department and rind indian inspector mclaughlin and acting indian agent drees at valto rocks hare have recommended it favorably according to the records information it is the intention to make the post one of the largest if not the largest indian schools in the united states in tho the event the present plans are consummated many of tho the smaller schools ecat seat through the west will be done away with |