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Show SALT LAKE I k LEATHAM WOULD TAX 1 BANK STOCK AT VALUE , Salt Lake .March 4 With a view si to forcing banking institutions of tho M county to contribute more largely S io the public treasury in the matter el of taxes. County Assessor William li A. Leatham has asked the county at- torney for an opinion as to his legal a righl to assess the capital stock of y banking institutions at their market . lvalue instead of at par. (J,. The capital stock of many of the I institutions is worth from two to ten tl Llm Its par value on the market, and tfi Mr Leatham figures that this In- r3t creased value should be assessed and in ibi tld contribute something to the 3l coffers of the county and city in the fell of taxes To assess banks on tho sb ! market value of their stock would Ml increase the rax revenue from these 7 It ' institutions from two to ten times I County Attorney I .B Wilier, who Is a bahl director, Indicated his be- Ci lief yesterday that under the law as- nil sessments on banks can only be made on the par value of their stock, their s pi surplus and undivided profits Ho Jtl contended that the above-par value "Ol of bank stocks Is not intrinsic value, bul B value produced by the holdings of the bank, which is itself assessed and should not be assessed again Hid Mr WTlley admitted, however, that under the law which requires banks t i to keep a portion of their surpluses in ether banks, the banks are In the hab- 'j, ) it of listing this surplus so deposited as nihilities, and so as deductions : for liabilities are allowed before as- .j tnents are made these surpluses : escape the assesor. -. |