| Show jas al peterson talks on bank taxes in rn an interview with jas 31 peterson president of the southern utah bankers association mr peterson fiade the following statement with xe reference ference to the bank tax matter the federal district courts yesterday sustained the complaints of the weber cache and utah county banks in in their suits against the county treasurer to enjoin collection of taxes assessed against the shares of their capital stock this decision disposes of the question of law and leaves for determination merely the question of iv whether hether or not in fact substantial amounts of competing capital in utah are taxed at a lower rate than the bank shares such facts are matters of common knowledge building and loan real estate finance investment banks and mortgage and loan companies are assessed for but a trifle of the capital employed if requested to prove these well known facts the banks of course can do so but it should not be forgotten that the expense incident thereto will fall upon the county the banks made a generous offer of settlement in advance of the courts decision which offer was rejected by the county officials the additional loss to the county incident to further proceedings in these cases is likewise a matter in the control of the county officials and not of the banks in sevier salt lake grand Gran wayne dWayne and d two or three other counties the officials accepted the offer made by the banks with the result that they effected substantial savings to their counties while the counties where the matter was taken to the courts suffered an entire loss |
