Condon globe., December 21, 1906, Image 7

1 I
Proposed Oregon Tax Law
(Ciilillniical Imin ll ak)
( AmMnwir to give iiotlin of imetlng of
Ixmril of riimlluil(in.) .
Wn-tlon 3d. Tlint ml Inn 3iM0 of the
Coilin miii sial utin of Orvnun, (Mitiillil
mill niiiioIhI4I hy ),n. (Imrli ft. lbtl
lltiur ami Wlllliim W, Colloii, lx ami
thr wiino hcrvliy U mih'ikM U rwul m
follows;
Knrli iwKir shall glvs thn week'
fiilillu mil liti In sums miNmMr print
h! In hla rKillve enmity; If thi-re be
lio suoh iirHaiMr, tlii'tl try xwttng "I
imllfe In six cuiinpiinoii plnon In hla
omnly, setting furlh that on the first
Monday In Oetiilwr tli binnl of tHimll
aallon will atU'iul, at the court houav
In hla county, am publicly pxninliie the
aamwHiniMit ml la, ami correct all errors
In valuation, ilfwrlptlon, or unlltii
of lamia, Iota, or othiT property swtiHWMl
ly aiit-h aawwaor; and It alutll Ik the
tuty of pcrwuia IntenntiHl to appear at
the tltiiK aiul iliie apoliilxl. Proof
of Much not Ico, If piilillnliiil In a nnws-nH-r,
ahall Im nuvln by attlilnvlt aa pro
vlilixl by law, flkxl with the clerk of the
routily whi'rt' the mMHiHT la prlnttnl,
mi or U'foru the flmt Momlay In Orto
Imt In tin' your when aueh notice la
printed; If aueh notice be imtel, proof
1 1 lens if ahull lie nuulu by the ttlllilnvlt
of the awMKaor or hla deputy, aetlliiK
out the time, nimuicr, ami place of post
ing aueh not live, Hlrxl with the clerk of
the rotuity on or before the flint Mori
lay In October In the )ir when aueh
posting la nuiile.
(I'hanirra ili nf marling of Ihs hoard nl
ltiaii4atiiin as MHinMi iniht nuiir. from (ha
)ai Miuulay In August in lit Ural MoikUv In
ortnlter: mrlil,-a dr trniailiig Hi lart of
pirWilldlmi nf lli hoard l,r rtiulrlng rin,f to
1m IUit un Uie giving of nutltii, and itrtnwrlb
lug tliv fnrui. HMtlun anno contains language
rwHlliig tliv ilutjr ut Ilia lioenl lit tuske com.
lliuia, vr .wlitrlt la eltmisl ft lllttral dilltllral of
swltott aaj, H. A 1'. i'niiip. Tula liaa lin
iinilltrt aa not iniMrly twloiigtiig 111 eawMloli
svhlHt mrrolt irtwrllae what nolle shall b
ivvit 111 ms inriiiig.f
(WoM "nwunwir" shall Include hla
deputy.)
nWtlim 37. The word "aaaeeaor," M
naivl In thla act, almll be taken to In
clude hla deputy.
(New)
(County court nuiy appoint apodal
sensor In event of fulltiro of aaaeaaor
to act.)
Sect inn 38. In event of the fall
lire of the Bwunwir to eoinmenee or con
tlnuoualy and vipiroualy prosecute the
limkliiK of the amwvuiei.t In the iiumner
irovldel by law, the county court may
uimiutrlly aptxilnt a Hlal awteiwor,
who aim 1 1 iputilfy In the anme iiumner
en the awo-amir, and who una 1 1 have all
the dutliw, rliilila. prlvilinHj, and einol
limeiita ol the atwtwHur In iimklng the
aaHetwiiieiit for the current year, and
wliiixe ncln almll have the name enect ut
It the auiiie hud Imoii done by Uie aa
eewir.
(Imciiilwl in urovliUft wit In ! from
Itm llitmhili In whleh on CHiiinl)! nf llifl ilftte
I.Hinil linulf hi I'-iiKl. wIipii lhi ftuiwmr itltl mil
nmlifi iliti ftumi'MiiiiMH mid lliv enmity nmri
iiiitli'rtAiik in ftiMtliii 11 Ui'imiy whu ftrtimUy
luft'lp !hi ftMrKMini'ltt. Tliv Vftltilily of Ihc mrniiMi
tiieol rii ftRHftlliMl tiy heavy tHxpuvvm, hut him
mil vel Iwm'Ii litiriiitntMl. TliU riinttnireiirv miiv
iioriir In ftny of thuemittltiw nf thi HiMUi.aoil the
Mitilu ahmilil not Im iireJinhiiHl hy itm fftlliire
4if mt miMBor to net ft iit'ltltor iimtuUmuii nor
ri'iuovftl from ofTti-a woulil Kivti RKHMty mill lo
i(Ute rvltvf mb ftKHliul ft m'ftlcllrftnl ftMHMuuir.)
(l!cxnllnif aeetlon.)
Section 31). Tluit aeetlona 2709,
2710, 3041, (M2, 31M4, and 3050 of
the ( odea and Statutes of Oregon, com
piled and Bimotnteil by Hon. Charles
. Jkilllnuer and William W. Cotton,
lie and the aame henhy are reHtiliil
That nil acta and mrta of acta in con'
tlict herewith be and the mimo hereby
re npenled.
(1. Stcllnna tTOO ftnd IT1A tin 1on brtn
obolrte; ihcy provfile fur the Mrumriit ftnit
collectiun of taxea, end eqtiftliftatinn by the
cur ftnu op niiiccrH. v.nnira Brciion aui'B.
S. The ftnerMorft of the ettte In ftllnuel convrn-
tioni hiivp lwic recnmmrndpn th abolition of
the II noil Us. or he transfer to the IS road
poll tax. 8. Lava of 1toa. pan Una, covera
tne aante arouna aa aectinn simh; ana are arc
tlon a of ilii act. 4. Srctlon milt la included
In acction B0.M1, provitlinii for the aaaeaament of
11 lamia, wpicn, ui cuutmti inviuuea inai in
orioratlona. 6. Section SOftO ia merged with
ection 91)70 In dialling aectlon is ol litis act.)
(Savlnx clniuw as to assessment for cur
rent year.)
Section 40. Tlint, notwithstanding
anything to the contrary in tills act
contained, the provisions hereof almll
not apply either aa to the property sub
ject to assessment or the mode of assess'
ment thereof, to the assessment which
but for this act would be made In the
year 1007 upon the basis of ownership
and valuation of property March l.
1907 ; but the statutes which have here
tofore been In force shall continue In
full force as to the assessment for that
year until all things In and about the
eume, necessary to a valid assessment
for taxation, shall have Wen done as
fully as if tliis act had not been enactod
A BILL.
For an act to provide a more efficient and
equitable ayatem for the aaaeaament of bank
atneka. aharea and banklna canital for taxa
tion: to define what bank atocka, aharea, and
banking capital anall ne aunject to aaaeaament
and luxation, to whom aaaeaaed and taxed:
to define the dutiea of the county aaaeaaor
In reference to the aaaeaament of the aame;
to prescribe the manner of determining the
caah value of aueh banking stock, aharea, and
banking capital; to prcacribe the dutiea of the
companiea, corporation!, aaaoclatlona. copart
neraliipa, and persons subject to the pro.
visions of this act, and the cashier, manag
ing officer, or accounting officer of either of
them; and to provide penaltiea for the vio
lation of aueh dutiea; to create a charge for
the payment of taxea on divldenda, stock,
shares, and banking capital; to provide for
-the aale to pay delinquent taxea thereon of
hares, stocks, snd other Interests; to amend
an act entitled "To fix the place of assessing
national bank atix-k and private hanka. loan
and trual companlre," approved February 14,
loo; to repeal aeetlona lull, tutu, 'I4,
Hies, lonT, and loan of the Codes and Stat-
litea ol llrraun, compiled and annotated Ity
I nail and William W.
( oilnn, and to repeal all eels and parte of
Hon. Charles II. Ilrllinger and William
ftt ta In conflict herewith.
lie It enacted by the people of the
alaUi of Oregon:
(AnnenKinent and taxation of BUrk and
aiuirea In national and stats bank.)
Hw-tloii 1 . The atorkhotdera or share
holders of every corporation bank locat
ed w ithin thla atate, engnged prlncl-
aBl ly in the bualneaa of banking, lend
lug money, nivlvlng money on dcixmlt,
buying or aelllttg bullion, bills of ex
change, note, bonda, stocks, or other
evidences of Indebtedness, a view to
profit, whether such bank be organluxl
for lxinklng puqiosea under the laws of
thla Htate or of the United Htutea, almll
be aswiwed and tnxrxl on the value of
their shun of stock therein. Such
slutres shall lie asm used only with re
gard to the ownership and value thereof
on the first ilay of March, at the hour
of 1 o'clock a. in., in each year, at the
place required by law.
(Statement to be furnished asseasor by
cannier or accounting olllcer.)
Section 2. To aid the asmvoxir In de-
terming the value of such sliareN of
stock, tliectmhler or other accounting
ollltvr of every such Imnk mentioned In
the flint section of tills act Is hereby re
quired to furnish a alutumcnt to the as-
sifwor of the county w here the aame la
liKVtixL lN-tween the nrstitay of April
and the flfteetfth day of Hay In each
year, verified by oath, showing the
amount and numWr of aueh shares of
the capital stuck of such Imnk, the
amount of Its surplus or reserve funds,
and the amount of Its undivided profits
at the hour of 1 o'clock a. ni. of the
first day of March preceding, the actual
and cash value of all real enlnte owned
by It In this state, or elsewhere, and
the location nf the aame; also the cash
value of the securities of the United
States owned by It.
(Ascertainment of value of stock De
ductions for real eetute and exempt
proporty.)
Section 3. Rial estate owned by
such bank and situate in this state
shall lie assessed and taxed as other
real estate Is assessed and taxed. The
assessor shall deduct the amount of all
investments in real eatute from the ag
gregate amount of such capital stock,
surplus fund, and undivided profit, and
the remainder shall be taken as a basis
for the valuation of such shares of stock
in the hands of Uie stockholders sub
ject to the provisions of law requiring
all proHrty to be assessed and taxed at
its full and actual cash value.
(Shares of national banks not located
within state exempt.)
Section 4. The shares of capital
stock of national banks nut limited in
this state, held in this state, shall not
be required to be assessed or taxed.
(Bank to keep and furnish list of stock'
holders.)
Sect ion 5. In every bank and hank
ing ollice mentioned in section 1 of this
act there shall lie kept at all times a
full and correct list of the names and
residences of stockholders, owners, and
parties interested therein, showing the
nunilier of snares ana Uie amount held,
owned, or controlled by each party in
interest, which list shall be subject to
the Insiiection of the officers authorized
to assess propel ty for taxation. It
shall lie the duty of the cashier or other
accounting oflicer of each bank or bank'
ing institution to furnish the assessor
with a copy of such list annually, be
tween the first day of April and the fif
teenth day of May In each year, show
ing the facts in this section specified as
of the hour of 1 o'clock a. m. on the
first day of March previous.
(Assessment of foreign banks, etc., and
local companies and persons not prin
cipally engaged in banking.)
Section 0. Every company, associa
tion, building and loan association,
trust company, or other corpora
tion, joint stock company, or copart
nership, or person, not incorporat
ed for banking purposes under the
corporation laws of this state or of
the United States, who shall keep
an office or place of business and engage
in the business of banking, lending
money, receiving money on deposit,
buying selling bullion, bills of exchange,
notes, bonds, utocks, or other evidences
of indebtedness, with a view to profit
and it is hereby made the duty of the
cashier, managing olllcer, and account'
ing officer of every company or associa'
tion, including building and loan and
trust companies, incorporated under
the laws of this state which engages in,
but not as its principal business, the
business of bonking, lending of money,
the receiving of money on deposit, buy
ing and selling bullion, bills of exchange,
notes, bonds, Btoek, or other evidences
of indebtedness, with a view to profit,
between the first day of April and the
fifteenth day of May in each year, to
make out and furnish to the assessor a
statement, setting forth and showing
such reference to Buch banking business
in this Btate on the first day of March
of the current year at the hour of
o'clock a.m.; . ..
1. Tha amount of money on hand and
amount of money in transit.
2. The amount of funds in the bands
of other Iwnks, bankers, brokers, or
others subject to draft.
3. The amountt of checks or other
fash Items not included In any of the
preceding items.
4. The amount of bills receivable,
discounted, or purcliased, and other
credits due or to become due, including
sccount receivable, interest due and
unpaid; also the value of such bills re
ccivahle, ihiUxi, and credits.
5. The amounts of stocks and bonds
of every kind, and shares of every kind,
snd shares of Uie capital stock or
Joint stock or other companies or
corporations held as an investment,
or In any way representing assets,
showing and deducting therefrom se
curities of the United States and other
such stocks, bonds, and shares which
are exempt from taxation, if any, and
also showing those subject to taxation,
and the amount of each; also showing
the value of such bonds, stocks, and
shares.
0. All other property pertaining to
its business other tlmn real estate
(which real estate shall be assessed and
taxed as other real estate is assessed
and 'taxed).
7. The amount of deposits.
8. The aggregate amount of the above
first, second and third items shall be
listed, and the aggregate amount of the
taxable property embraced in the fourth,
flnli and sixth items above shall be
listed, and from the aggregate sum of
said first, second and third items, and
the aggregate sum of the taxable prop
erty embraced in the fourth, fifth and
sixth items, there sliall be deducted the
amount of the above seventh Item, and
the amount remaining sliall be assessed
to each company, association, or person
at its full amount as money and credits,
the same as other property is assessed,
at the place required by law.
(Taxes to be a cliarge on dividends,
stock and banking capital Sale for
tax.)
Section 7. To secure the payment of
taxes on bank stocks or shares, or upon
banking capital, such taxes are hereby
made a charge upon said shares ol stock
or banking capital or interest against
which the said taxes are assessed and
levied, and upon any dividend or divi
dends thereon. It shall be the duty of
every bank, or the managing oflicer or
officers thereof, to retain so much of
any dividend or dividends belonging to
such stockholders, shareholders, or
owners as sliall be necessary to pay any
tax assessed and levied upon their
shares of stock or interest respectively
until it sliall have been made to appear
to such bank or its officers that such
taxes have been paid. Any officer of
any bank who shall pay over, or autho
rise the paying over, of any such Uivi
dend or dividends, or any portion there
of, contrary to the provisions of this
section, sliall thereby become liuble for
such taxes. It such taxes ahall not be
iid before the same become delin
quent, on or immediately after the first
Mommy in May in each year, the tax
collector of the county where such bank
is located shall proceed to sell such
sliare or shares, stock, or interest to
pay the same, together with interest.
accruing interest, penalties, and other
lawful charges, in the same manner
other personal property is sold for de
linquent taxes, and in case of such sale
the provisions of law in regard to the
transfer of stock when sold on execution
sliall apply to such sale.
(Penalty for neglect or refusal to furn
ish statement required.)
Section 8. The cashier, managing or
other accounting oflicer of any company.
association, copartnership, or person
who shall neglect or refuse to make and
furnish any statement required by this
act of such person or such company, as
sociation, copartnership, or persons,
within the time and in the manner by
this act provided, shall forfeit the sum
of f 1,000 for each offense, to be recov
ered by Indictment, for the use of the
county in which said bank is located.
(Penalty for making or furnishing false
or fraudulent list or statement.)
Section 9. The cashier, managing or
other accounting officer of any company,
association, copartnership, or person
who shall willfully present to or furn
ish the county assessor with any state
ment required by this act, which state
ment shall be false or fraudulent, shall
be deemed guilty of perjury, and upon
conviction thereof, ehall be punished
by law as otherwise provided for such
crime.
(Repealing clause.)
Section 10. That sections 3042, 3063,
3064, 3005, 3067 and 3068 of the
Codoes and Statutes of Oregon, compil
ed and annotated by lion. Charles B.
Bellinger and William W. Cotton, and
all acts and parts of acts in conflict
herewith, be and Uie same hereby are
repealed.
ALBERT DAMS
Livery and
Feed Stable
Our Livery Ftock is First-Class.
Beat attention to bearding Stock.
Your Patronage is Solicited.
SPRING STREET
Condon
Oregon
The Hotel Grande
R. F. MUNROE, ProcrriaHoa-.
First-Class In Every Respect
Open An Right
Sample Rooms for Commercial Men.
First-Class Bar in Connection.
ARLINGTON, OREGON
LOST VALLEY LAND AND LUMBER COMPANY
(INCORfOsUTatO)
Hsoafsstaron of and Dssdm la
Rough and Dressed Lumber
Tlphon Polos, Poota, Wood, IZto.
Rough Lumber, par U $ 11.00
Klourlnf, las claaa...., Z7.UU
Ship Up, Mr M flTSO
flooring, 2d elaaa.... jsjo
. JTlT pr nt tor spot eaah. Tarn per carat off for caah to an toim paraoa on bfll
or M or orr. Kama pri and Sam discount to all and no discount unless anllro
till la paid. Condon yard wast of a B. baraar's warahoua.
f. M. PLITER, Manager
Lost Valley, Oregon
Condon Meat Company
' JOHN HARRISON, Praprietor
Fresh and Cured Meats. Beef,
Pork, Mutton and Veal
A SHARE OF YOUR PATRONAGE IS SOLICITED
Corn Spring and Oregon Streets CONDON. OREGON
St. Thomas Aquinas' School
- This School, conducted by the Slaters of St Dom
inic, offers superior educational advantages,
classical and scientific Particular attention given
to Phonography Typewriting. A class for pupils
desiring to take the same will be formed Novem
ber 5. : : : : : : : : :
CONDON, OREGON
SUMMIT SALOON
- FLETCHER BROS., Proprietors.
F NE WINES, LIQUORS AND CIGARS
(To be continued next week)
Stealing; a March.
"Ilang tt all !" exclaimed Mr. Snbnbs,
arriving home from the office, "we'll
have to cull on the Dubleys to-night"
"Why, George, you said you wanted
to stay home with me In ccnifort to
night." exclnluied his wife. .
"Yes, but Duhley told Balklots be and
his wife meant to call on us to-night.
We can leave their bouse earlier tbaa
we could make them leave ours,''
Philadelphia Press,
MAIN STREET, CONDON
f Stewart Campbell
James Campbell
THISTLE BAR
CAMPBELL BROS Proprietors
Fine Stock of Wines, Liquors and 'Cigars
NEW FIRM NEW STOCK NEW BUILDING
North Main Street, Condon, Oregon.
4
J. C HARDMAN
J. C. RAMSAY
CONDON LIVERY BARN
v HARDMAN & RAMSAY, Proprietors
Special Attention to Teamsters' Trade. First-class livery
Service. May and Grain for Sale
CONDON
OREGON
CITY SHAVING PARLORS
FRANK GOLDEN, Mssnger
' first CIss Workmn, Ssnltarr Conditions, Courteous Treatment, Hot snd Cold
Baths. Belroder Building, Hut snd Sprint Streets, CONDON, OREGON.
I