The Nonpartisan Leader Newspaper, February 3, 1916, Page 13

Ask for B iscuit T : i | . % : SEANITT | ; i o vy backache, Little Sioux YouNeed-Not:Be -Siek Chiropractic ADJUSTS the CAUSE of Disease INVESTIGATE 6. A NEWSALT D.C. r Savings l.’.‘ Loan Building LADY ATTENDANT B considered heada heart or kidney disease, diseases of |. women, paralysis, we can make you | well. ‘We can tell you of hundreds 3 of cases given mp as incurable that i this science has-cured. Investigate / 4 —consultation free, 3 che. Packed in an ““Aertite” - Moisture Proof Package MANCHESTER BISCUIT 'CO. Fargo, North Dakota. - Waitch Us Grow § e ofoods oo obs ool o oo oo oo oo oo oo iieioio. Chiropractic (KI-RO-PRAK-TIK) The Science - that Makes Peaple Well and Happy Fargo’s Pioneer ractor hone 1235 FARGO TANNERY ANDREW .MONSON, Prop. Receives hides and skins for tanning to har- robes and coats. = Robes lined, ; t, leather and xobes for sale. send for price list of .AAUTO AND BUGGY + - ‘ROBES, ETC. . FARGO TANNERY, FARGO, N.®. The wonderful success of Chiropractic has ‘opened ‘the eyes of the world. Diseases in- curable are cured by ‘this ‘method. 11"f you ‘have a “cold,” appendi- citis, gall-stones, constipation, pneumonia, 1E. W. WINDSOR, D.-C. DOCTOR :OF CHIROPRACTIC -+ Palmer.Graduate déLendrecic Bldg. FHONE 384 Fargo, N. D. WILD OAT SEPARATGR oats ' eat success. arm, write us ‘today and, let Jus. tell you derful 'separa- tor. Literature free. ¥ Albert ‘Hoiland - Fa successfully. :and seed men are using it with -about this won: A real wild oats separator that will positively remove wild ‘oats from tame ‘oats, from ‘bar- Jey :and from .any -other :grains. Possibly you saw this machine with the cotton flannel lined drum at your state fair, It created an unusual amount of W interest. Many who ‘saw ‘it pronounced it the only sepa- rator on the market that can separate wild, oats from tame Farmers ested by Experiment Stations This machine has .stood up under the most rigid tests of the experiment stations. If you don't want wild oats on your . to from are :alowed and does not mention this o per cent. If enforced this exemp- tion would completely wipe out ‘the taxes of scores of banks and, reduce others to almost nothing. Many banks have loans and discounts ‘amounting $1,000,000 to $2,000,000 For these it would mean paying taxes g_n from $50,000 to $100,000 less valua- ion. In recommending ‘the elimination of this unconstitutional exempetion the tax commission said in a report to Governor Hanna and the legisla- ture: “There is not ancther provision to be found in our statutes authorizing a reduction in taxable -value of prop- erty on account .of the liabilities of the .owner of the property. Even in aszessing real estate we assess the mortgaged land ‘to the owner and the ‘assessment is not reduced by the amount -of the mortgage there may ‘be -against the- land.” . Governor Vetoes Bill The legislature -saw the force of this and .at the 1913 session repealed the bank exemption clause. But this repeal bill was not law yet; Governor L. B. Hanna had to sign the bill to make it effective. He vetoed it. In deing -so he said: “The idea of the 5 per cent deduc- ‘tion is that -every bank has a certain amount of outstanding notes that may be 'questionable.... It is. only #fair that a reasonable amount should be allowed to be deducted...... to offset any bad debts held by a bank, and this law has stood upon ‘the statutes for many years.” Would the governor sign .a bill to deduct 5 per cent of a farmers’ bad debts from the value of his property for taxation -purposes? : ‘Balked in its ‘efforts to have the unfair exemption rectified, by repeal the state tax commission asked ‘the attorney general for an opinion as to the constitutionality of the -ex- emption. The .attorney general’s -opinion was that the .exemption was unconstitutional. Since the, for two years, banks have mot been getting the benefit of the exemption and there has been no organized protest because they are not getting it. It was so .apparent that the exemption was unfair and unconstitutional that no bank has had the “face” to make any fuss. ‘Take Banks’ ‘Figures In the law as it is enforced, how- ever, there are still plenty of exemp- tions and .loopholes. = For instance, banks are sllowed 'to subtract from their capitalization their “net in- xestment” in .real estate in finding the personal property valuation ‘for taxation purposes. f;x practice this “net investment” is the bank’s -own figures—its book value—on the real estate it holds .and there is no check or,_investigation to see if the ‘bank’s figures are not boosted, in the inter- est of cutting :down its personal property tax. ~ Furthermore, the statute requires that the same “net investment” in real estate subtracted from the per- sonal property valuation shall be re- turned by the bank and be used as the valuation on which the bank is taxed for its real estate. This part of the law is not enforced and it is a fact that probably no bank is pay- ing taxes -on the same valuation of real estate that = it s subtracting from its personal property valuation. In other words :a bank may boost. its book value -of real estate to cut-down its personal property .assessment .and, argue the asssessor -or board of equal- dzation into lowering the wvaluation of real estate when it comes to put- ting a valuation .on it for the real estate tax. This is equivalent to allow- ing a public service corporation to . place .2 low value -on -its properties for taxation ‘and .a ‘higher value on it for the purpose of fixing rates. Loophéles ‘Shown Up Here ‘is ‘another -abuse of the law: ‘Only ‘a ‘small part -of a ‘bank’s real -estate ‘holdings may be in the eounty ‘where it ‘does ‘business. Most ‘of it often ‘s in another state. 'The taxa- ‘tion rate in the county where ithe bank is located, let us say, is ‘higxl‘x, ere - while the rate in the counties wh “its real-estate is located is low. This ‘is often ‘the case :and it results in the "bank ‘reducing its -personal prop- ierty wvalugtion in ‘the county where it does ‘business ‘and where the nate is ‘high, and, paying:a low rate fin the other counties ‘on 'the 'valuation of ‘real estate, subtracted from the per- sonal property valuation under ithe terms ‘of the law. ‘When part -of a bank’s real :estate is in another state ‘it results in North Dakota getting no taxes at :all on personal to ‘the value of the real iestate held in the other state. A specific case of this kind will illustrate the point. Escape ‘North Dakota Tax The tax records . show the First National bank of Fargo ‘held $79,000 . worth' of 'real estate at the time its 11915 personal property tax was figur- ed. 'his '$79,000, the ‘bank’s book value of its real estate investment, was subtracted, under the terms of % roperty in North Dakota THIRTEEN . mmm+flwm++-uuflfl 3 EQUITABLE AUDIT CO.,Inc, 712 Busbie: ¥ Farmers Elevator Companies’ Home of Auditing-and ¥ Systems for Accounting. Write for References. E mwmmmfl+*umm+m* . A. J. OSHEA ARCHITECT AND ENGINEER FARGO, NORTH DAKOTA THE UNION ol'}lhfi‘TlO‘NAL BANK MINOT ‘CAPITAL AND SURPLUS $90,000.00 FARM LOANS negotiated at lowest rates.- Prompt service. No bonus. MINOT, NORTH DAKOTA I SEED CORN High test, high grade, northern grown 1914 seed corn. Minnesota N. 13, Minnesota No. 23 and White Dent @ $5 per bushel. Only a limited amount of this.good seed on hand, so order today. We want cloverand timothy seed A. J. OLSEN CO., MOSRHEAD, MINN. AP OEP b PIid b dddolokdolibdnioidedododdodoodd dodod bbb d bbb didd doidebd Fargo’s Only Modern Fire Proof Hotel : : 'POWERS HOTEL Hot and ‘Cold Running Water and Telephone in Every Room ‘On Broadway, One Block South of Great Northern Pepot. . FARGO, N. DAK. : e AR SCEOOEOEEEOAETR LLE Rural-Credits Chartered 1915 e ‘Cogperation - Farmers Rural Credit Association - Authorized ‘Capital $500,000 Mineot, North-Dakota : FARMERS SCHOOLS . ‘Held under the Direction of this Association. TLectures, Instruc- ‘tion, and Disscussion, Rural Life, Rural Credits, Farm Neg,es- g sities, Production, Buying, Marketing, Taxation, Land Titles, Credit, Auditing, Banking, Management, Transportation, Farm Fi- nance, ‘Co-operation, Farmers’' Organizations, angd, Legislation. FARMERS BANKS - Started under the Direction of this Assuciation, Farmers must control their own credit. * : v Nine-tenths of all business:done today is done -on Credit. Who . now controls this vast amount of Credit? Ans.: The Interlock- ed banking and business interests of the country. is all wrong.. ; Farmers, Become Your Own Bankers armers, join with your own neighbors in starting a Farmers’ ank in your home town. Help remove the Boycott now against Co-Operation, Co-Olpemti.ve Elevators, and the Farmers’ Open Market at ‘St. Paul. Farmers’ Banks are now- being- organized in several towns to be owned and controlled by the farmers ‘themselves. :Organizers wanted. Call or write for full particu- 2 lars for starting .a Farmers’ Bank or Elevator -in any locality. e = i ;,i%;;:.;:niiiii_ mnfllfl"“llg £ Increased Production---Pro- fitable Prices for Your - Produce - A privilege to purchase your : implements direct from the manufacturer, elliminating large profits charged by jobbing monopolies, expensive sales- ; \ 3% men and dealers is the propo- sition that confronts our good farmers to-day. “The Wilberg Plow Attachment is a Practical Labor Sav- ing Implement that 'every farmer should own. - _Our 1916 model will be sold direct to the farmers at prices we sold it to the jobbers for. - Thus enabling you to buy two machines for what you had to pay for one. : ! ‘Write for special club order prices. £ Wilberg Plow Attachment Co.,Nome,N. D. S This system | X B AR R OSSR RS TR | Ji = = = = = = s Hil B S = RS TA2LT ST O I :: i