Paper Read Before the "MlwoDri !
Banker Annotation" at Clin
ton Missouri.
Discriminations in the valuation of
bank stock and other bank property
in assessment was the topic treated
by George Ward,casbir of the First
National Bank, King City, as fol
lows: OMt'BT VALUATION.
Mr. President, Brother Sister
Bankers of the Association and the
ladies and gentlemen here aseiubl
ed: Disci imiuatiou in the valuation of
bank property by the county asses
sors in the State cf Missouri has be
come almost universal. It is the
custom of the asHessors to value
bank stock and all other bank prop
erty as mouey; and when we go be
fore the County Board of Equaliza
tion, they, with all the dignity of
supreina judges, refer us to Section
7538, as amended, Session Acts of
1801, and say that they are helpless
and unable to grant any relief; yet
they, ns an acting court, have taken
an oath before entering upon their
duties, to equalize the valuation of
the property of the county. They
acknowledge that it is wrong and un
just to value bank stock higher tha?i
othir properly, but claim there is
no law to bring the valuation down
on a level with the valuation of other
property; and, with this knowledge
Mid discrimination before them, they
refuse to comply with or euforce the
law and equalize the valuation by
raising all other property up to its
actual value, (ha same as bank 6tock
is valued. They permit the levy to
be made on a percentage of the
value of other property instead of
its actual value as bank stuck is vul
ued. The State Board of Equaliza
tion can equalize the valuation of
lands and other property, either per
sonal or corporate, of the several
counties of the State; yet, wheu they
reach the valuation of bank stock,
they do not give us any relief iu ad
justing and equalizing the valuation
thereof. While the Constitution of
the State of Missouri, Article 10,
Section 4, says: "All property sub
ject to taxatiou shall be taxed iu
proportion to its value," which cer
taiuly applies to other property as
well as to bank property. Yet, by
their actiouH, the State board of
equalization follows iu the same
channel as the county board of
Equalization. In Gentry county we
have hud a practical test of this mat
ter In 181)2 the bankers of Gentry-
county agreed upon a form for giv
ing in their aasessment to the coun
tv UHsessor, which was as follows:
1st. Capital stock.
2d. Surplus.
Ud. Undivided profits.
From the total of the three items
canital. surplus and undivided
ft
profits we deducted furniture and
fixtures aud the real estate owned by
the bank at the value it is carried
upon the books of the bank, and
asked him to value it the same as
other like property is valued for as
cessment. The residue, or amount
left after deducting the real estate,
furnitures and lixures, we divided
tiv 2. to brim the valuation down
on an equality, or upon a level with
the rule adopted by must assessors
for the valuation of real estate aud
other personal property. This was
done for the purpose of more nearly
conforming to a record made by our
Couuty Board of Equalization tak
en 40 per cent of the real or actual
value of real estate for assessment
value in Gentry county.
The assessor placed the assess
meut from what the banks had given
it iu at to the book valuation of the
capital, surplus aud undivided prof
its. From this actiou of the county
board, the banks took the case be
fore the Circuit Court where the
action of County Board of Equaliza
tiou was sustained. From the de
cision of the Circuit Court, the
banks have appealed to the Supreme
court of Missouri, where the case no
rests, awaiting its turn on the dock
et. I suppose it will be reached by
January 1, 1895, wheu we will know
the final results.
At the March term, 1S04, Mr. J.
B. Thomas and myself, or Gentry
county, went before the State Board
of Equalization with certificates
from several counties, showing that
the stock of the bankers of the State
was not uniformly valued, and that
' the stock of the" banker was valued
at a much higher rate by assessors
than th real estate and other per
sonal property was valued. The
board said to us that there was no
Uw by which the valuation placed
on bank stock by the county asses
sors could be cut down as the stock
was not assessed above its Actual
value. The board readily admitted
that other property was not assessed
at its actual value a- contemplated
by law; yt, with this information
before them, they did not raise the
valuatiou of all other property in
the State to its actual value hh bank
stock is valued, which, if they had
so done, would have increased the
valuatiou of the State to such an ex
tent that th rate of th levy would
have been cut down fully o half,
and our bank stock would th- n le
valued aud assessed the same nil
we ask or are seeking. W il , .. t
ask to be favored, lint, hioip'v t.
be placed on on ! i v. I; n r
have been given hhv i-ii.f tv w..
State board, I have ut Uu n iv --
ed of it.
I ask, gentlemen and l-li-n of
this convention, is bank stoi'k woith
2J times as much in property in the
hands of other corporation, nud
that of private individuals? Will
bank stock or a banker's dollar pur
chase 2 titu' S as urich a-; the dol
ar of auy other individual? If they
do not, why should the assessor val
ue bank stock 'l times higher than
the average of all other property.
both real and personal? Why is it,
when we off r to part with our dol
ars, thty will not purchase any more
than the dollar of any other individ
ual? Yet, the assessor, on his oath
as an officer, says that bank stock is
worth 2 us much as the average of
other property ?. And how loug must
we and will we submit to this injus
tice? Are we afraid to asset t and
claim our rigkts? Are we to continue
ou in this way more like a herd of
sheep being driven to market for
s!aughter,tban a class of individuals,
supposed to have reasonable sense,
judgment and independence? Will
we continue to submit to this dis
crimination and gross injustice?
Some say it is not policy to ask for
legislation er the enforcement of the
law ou this subject. Others say we
lose more aud create prejudice
against us by asserting our rights
than to quitely submit to this in
justice I 6ay we do not; most em
phatically we do not. We must
place our claims and grievances be
fore the public in its true light, and
also get the press of the county and
State as much interested in this iu
justice that we are subjected to as
they are interested in advising the
public if n bauk officer makes a
mistakes or cashes a forged draft by
which the bank loses a few dollars.
The press stands ready to advise
the public. If oue of our members
or oue of our employes become a de
faulter, they are always ready to de
vote two or three columns to veuti
lato the matter, which I think is
right and proper; yet,from the banks
of the State of Missouri there is
systematically and unjustly taken
thousand of dollars each year by
being discriminated against in the
valuatiou of their property by the
County Assessors in most of the
counties. Of this fact the news
papers say nothing. And of the fact
also that the County Assessors in
most of the counties. Of this fact
the newspapers say nothing And
of the fact that also that the County
aud State Boards of Equalization do
not carry out what they know to be
their sworn duty (to see that all
property is assessed equal,) the
newspapers ou the question likewise
remain silent.
Fellow bankers of this association
are not we largely at fault for this
apparent lack of interest by the
press ou this subject? I believe the
press, the great champion of equity
aud right, is ready and willing to
assit in placing before the public the
facts as they exist, and in advocat
ing justice, equity and right in the
assmeat of property. The only way
to do this is to asses all property at
its actual value, and not take bank
stock at its actual value and other
property at a percentage of its true
value, as is adopted and practiced in
Missouri as well as in many other
States.
Gentlemen and ladies of this con
vention, what subject is of more im
portance iu dollars and cents to the
banker in the State of Missouri and
to this association for immediate
and prompt attention; or what sub
ject calls tor a more aeciaea acuon
A. O, Welton
Staple? Fancy Groceres,
Feed and Provisions of all Kinds.
nUEENSWARF AND GLASSWARE
CICARS AND TOBACCO,
Alway? pays the highet
Produce. East Side
r-
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than this unjust nud intentional dis
crimination? What other cla38 of
individuals or other line of busi
ness submits without protest to
such injustice? I ask if the public
does not love and admire the indi
vidual who, when wronged, stands
up aud honestly and honorably asks
that ha be given relief for his griev
ances? As representatives here as
sembled of a large number of banks
of Missouri, are we not expected by
our stockholders aud tun directors
of our respective banks to put our
selves on record as having taken
some actiou towards securing the
enforcement of the laws of our laud
whereby we may have equity and
which would result iu the valuation
of all propety at actual value? This
would increase the valuation of the
State of Missouri about 2 times the
present valuation, which would low
er the rate of the levy or taxes as I
have before stated aud at the same
time be one of the greatest adver
tisements as a State we could possi
bly have. It would lessen the rate
of taxatiou to such au extent that
it wouia attract and be a great in
ducement to capital, manufacturing
interest, farmers,aad others to come
and and to lecate in Missouri, the
best State in the Union.
I ask and urge this convention lo
take immediate actiou and to organ
ize for effective work, as every bank
iu the State will be benefitted there
by. And I suggest that there be an
assessment made on each bank that
is a member of this association, or
that a per cent be assessed ou the
capital stock of the banks to create
fund to pay the legitimate ex
peuses of such action as this associ j
atiou mav. after careful deliberation i
ueciue l0 iae iu j-rociaiiaing ana
i- . .t- - 1 - : 1
asserting our rights and asking jus
as citizens of the grand old State
Missouri, remembering always that
equity and justice is all that we ask.
What's the Use ot Talking
About colds and coughs in the sum
mer time. You may have a tickliug
cough or a little cold or baby may have
the croup and when it comes you ought
to know that Parks cough Syruy is the
best cure for it. Sold by H. L. Tucker.
market price for Countv
Square. Butler, Mo
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An low Town Kiu ned.
Lamoure, X. I) , Aug. 2 This
city is in ashes. A great fire broke
out ou Front street at an early hour,
and fanned by a strong wind laid
waste the entire business center of
the town. Four blocks of stores
are burned, including the Couuty
Courthouse and the records. The
Leland hotel and a drufr store are
O
the only buildings left standing.
The loss is $200,000. only partially
! covered by insurance. The fire broke
out at midnight in the 6tore of A.
Hageman and spread to Howe's
hardware store. The city was with
out hre protection. About forty
buildings are burned and the losses
run from 88,000 down.
!!b Ford's Slayer.
Denver, Col , Aug. 1. Edward
O Kelly, who is serving a life 6en-
tence in the penitentiary for the
murder of Bob Ford, slayer of Jesse
James, at Creede, has applied for
a pardou. As justification for the who holds to those economic princi
crime, he 6ays: "The killing of the pies for the success of whic'i the
man was the outcome of previous people of the West are contending.
trouble. At the time of the killing
he made a movement for his gun
and. thinking he was going to kill
me, I shot him." In his application.
O'Kelly states that he was born in
Missouri, although he denied it at
his trial, and it is believed he went
to Creede and obtained a commis
siou as deputy sheriff for the express
purpose of killing Ford.
Bncklen'i Arnica Salve,
The Best Salve in the world for Cuu
Bruises,Sores Ulcers Salt Rheum Feyer
Sores, Tetter.Chapped Hands, Chlblain
Corns, md all Skin Eruptions, and posi-
tivelv cures Files, or no pay required. I
or money refunded. Price 25 ct per boxt
- j For sate bY H. L. Tucker, druggist.
Terrific Umn Storm.
Hugo, Col., Aug. 1. A terrific
- , th - .
i r WPtern TWnln Vnnntv W
nurht. doin? tirtat damage and rar-
oft - Wlv tn lhfc rjl:,rr,a T tvA
j viciuity'of Lake StatioD on tbe UnioB
j Padfic 6eTeraI hundred eet of track
was earned away. Passenger trains
were delayed many hours and wreck
ing trains were sent out from Chey
enne "Wells and from Denver. Fear
is expressed that the reservoir on
the Big Sandy will break.
J "OLD HICKORY'S" UKMA1NS. j
i '
His Grave at Hermuas- Ihsturl.ed by
Persons Unknown.
Nashville, Teuu , Aug. 2
Iufor-jbe
mation was received here frwm Her- j
natage.
here Geuerel Andrew
Jackson's reiuaius are buried, that
his grave was disturbed last night
by unknown persons. A hole eigh-
j teen inches deep and three feet in
length was dug at the head of the
grave, but the parties were frighten
ed away before they accomplished
their object. The Hermitage, twelve
miles from this city, was the old
home of General Jackson, aud where
he was laid to rest in June. 184.1, is
tLePrPert-vof tbeStateof Tecues-
see, ana uas ueeu ior several years
in charge of the Ladies' Hermitage
association. The object of this as
sociatiou is to preserve the home and
relics of the ex-Presideut. The re
mainder of the estate is used as a
home for ex Confederate soldieis.
The rtmaius of Mis Jacksou, wife
of the geueial. rebt next to those of
her husband in a tomb prepared by
him. It resembles iu appearauce an
open summer house a 6mall white
dome iupported by pillars of white
marble. The tomb of Geueral Jack
sou bears the simple inscription:
General Andiew Jacksou. born
March 14. 17GU; died June 8, 1845 "
The desecration of General Jack
son s grave was discoveied at au
early hour to day aud the fact im-
j mediately reported to the Ladies
Hermitage association. A long plank
was left lying beside the grave. Sus
picion rests upon a well dressed ue
gro, for whom the authorities are
looking. He went to the residence
of a whit inau living half a mile
from the Hermitage yesterday aftei
j noon and burrowed a shovtl, which,
j he teturned this morning. While
near the Hermit ajre h made some
inquiries about General Jackson's
tomb.
The Lidies Hermitage association
officers are at a loes to know what
could be the object of the peisou ur
persons who disturbed the grav,
mi .
mere are only turee persons iu
charge of the house and grounds
and ihey knew nothing of the noc
turnal visits until daybreak.
The Times Campaign Hates.
Iu order that no citizen of the
South west may have an excuse for
not being posted on the develop
ments of the interesting politica
campaign wnicn is just opening
The Times haa made a special cam
paign rate of $2 00 for the daily am
Sunday paper, and 'M cents for The
Twice A-Week Times until January
I
1- While The Times is an earnes
ad fearless supporter of Democratic
principles, it is, and always has beer
liberal enough to open its coluniss
j to representatives of different politi
cal opinions for the discussion o
their views. In the columns of The
Times the important news of the
campaign of 1804 will be s.t forth
fully and fairly. Its news facilities
are unequalled by those of any other
newspaper published in the South
west At t!ie prices maJe either tLe
daily or the Twice a Week edition
I should be in the hands of every man
Liberal terms to agents and post-i
masters. Sample copies free.
shot In Hi Home.
Eufaula, I. T., Aug. 1. An un-
known party attempted to assassin-
ate a farmer named Johu Haven,
near Wewoka, Monday night. Just
after he and his wife had retired and
before they had fallen asleep, the
assassin slipped up to a wiudow near
their bed and fired, the ball breaking
Haven's arm. Mrs. Haven's night
, , . .
clothes were set on fare from the
gUD, and she was s ightly burned
before it could be extinguished.
Haven's arm has been amputated.
The Weekly Kansas City tr
Addresses the farmer as a business
man and a citizen. Doesn't tell him
how to farm, but how to sell, and
w here and when, and keeps a vigil
ant eye upon his rights as a shipper
a producer and a tax payer. All the
news, too, and plenty of "good read
ing" for the family. Now read in
100.000 farm Louses. Fifty two big
eight-page newspapers for 23 cents.
To any one who sends the Weekly
Star five yearly subscribers together
with $1:25 the paper will be sent one
year free.
Democratic State Prrss Association
Meetiug aud Ratification.
Al. aj;ourile.l meeting of the Dew-
-
ooratie IState Pies- Association will
held at Peitle Springs (Warrens-
burg) Friday and Saturday, August
24th aud 2V.h, next It is hoped
that t-vrry Uemocrativ editor in
Missouri will not only be present,
but will have their names enrolled
upon the roster of tbe Association.
It is the purpose i f the committee
to make those days led letter davs
: in the history f the Democratic
party in Missouri.
1 he State Central committee has
taken up the matter aud will make
tiese dates the opening uf the state
ampaigu Prominent speakers
mong whom are: Nice President
Steveusou, 'Silver Dick"" lUnd.
iovernor Stone, Ex Governor Fran
cis, Champ Chuk and others are ej
ected to be here.
U. A. McBkipe,
Sec'y Dem. State Press Ass'n.
Warrensburg, Mo.
Lincoln Institute Fire.
JtfiVrsou City, Mo., Aug. 2. The
mam building ot Lancoln institute,
which was struck by Jightuiug aud
totally destroyed at au early hour
this morning, was erected in 1S70 at
a cost of 35 000, aud siuce that
time the State has spent about
$3,000 on it in improvement. It is
usured iu different companies to
the extent of $12,000 The contents,
however, consisting of au extensive
ibrary, a chemical laboratory, school
furniture and apparatus, is a total
loss. Mauy of the books were the
property of students away for the
summer vacation
As soon as settlement of the in
surance is made, i'resident J. .
Henry of the board of regents will
call a unetiug of the board. There
is a question as to whether the board
has the authority to rebuild until
the Legislature authorizes it, but
this will be determined at the meet
in? and if it can do so the board
will at once proceed to construct
another building.
The school will open ns usual iu
September and will be continued
without interruption hb room can be
made in the other buildings for all
the classes.
Ballard' Snow Liniment. l
This wonilerJul Liniment in known
from the Atlanti- to the Pacific, and
troin the lakes to the ult. It is the
most penetrating liniment in the world.
It will cure rheumatism, neuralgia, cuts,
sprains, bruises, wounds, old sore,
burns, sciatica, sore lhaoat, sore chest
and all inflammation, after all others
hae tailed. It will cure barbed wire
cuts, and heal all wounds where proud
flesh has set in. It is equally efficient
tor aii'.maU. Try it and ji ou w ill not be
without it. Pi ice c,oc. Sold bv II L.
TucKer, Butlcr.Mo
Fxtfitdiiii: Aiiirricaii Trade.
Washington, l. C, Aug. 2 For
many months the Bureau of Statis
tics of the S'ate department has
been making systematic movements
to procure from our Consuls iu for
eign parts repoitu indicating how
American trade may be extended in
the countries where they reside.
The imformatiou thus collected has
in lancy cases been of great value to
American exporters. One of the
latest reports of this kind comes
fro;u Consul Hall at San Juan, Porto
It:ct. lie points out the peculiarities
of the Spanish taste iu goods, dwells
upon the importance of proper pack
ing and preservation of goods
through responsible agents, and se
verely condemns as wasteful and in
effective the promiscuous distribu
tiou cf circulars.
Another report from Consul Gen
eral Hickman at St Gall is of special
interest to meat exporters, embody
ing as it does the reports of careful
iuquiries by all of the United States
Consuls in Switzerland into the
possibilities of creating a lemunera
tive market for American b-ef,dresh-ed
and ou the hoof, in the country.
The general opinion is that the
scheme in feasible aud that the
butchers have already a strong pre
disposition toward American meats.
The Norwegian government has
promulgated a set of regulations
governing the importation of live
stock into Norway. Horses, when
imparted, must bear a certificate of
htaltnfulnesB from the police au
thorities of the exporting country
or the Consul, and must be inspected
upon arrival by a government veteri
narian. Meat cattle, sheep and goats
may not be imported from the Unit
ed States or other countries than
Sweden; swine may be imported only
from Russia. The importation of
fresh beef and pork and green hides
is also prohibited.