president tax board

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president tax board - Office, of D. mho of the were the and the give...
Office, of D. mho of the were the and the give on old but offense. Will- I on he lor I to importance into being th defendants and be had been appointed to examine Into the Senator s condition eras snown Paulding by a reporter yeaterday. "That's a malicious absurdity." when he had read it. to Mr. he said En- En- to the of haul WILL MEET VAN PER LI P. Controller and City Bank Man to Dli ..Cues Its Back Taxes. Controller Mets snd Vice President Frank A. Vanderllp of tbe National City Bank, will discuss at tbe Controller's of fice this morning the movement tbe Controller Controller has started In the hope of collecting collecting back taxes which he believes are due on the old Custom House property In Wall Street, now owned by tbe bank. Mayor McClcllan said yesterday that he was Interested In the attitude taken by tha Controller, snd that be had called In President O'Donnel of the Tax Doard for a talk on the subject. President O'Donnel O'Donnel told the Mayor that he did not believe believe there was any way the city could collect these sums believed to be duo. as the bank never had actually, taken title from the Government. He said he had an opinion from Corporation Counsel De-lany De-lany De-lany nearly two years ago, advising that the city could make no move. Ths Times has received this letter In relation to the grounds put forward by the Controller for his Intended suit: To Editor of The Xew York Timet: I hold no brief tar th Vatlonal Cltv Bank. and I tru.t that It mar hara la mt any and all taxa for which It la liable. But I beg that you win Indulge me In disoentlng from ons or two statements of fact or conclusions stated as facts whl.J appear In an article In to-day's to-day's to-day's Issue rettardlng the ssJe of the old Custom House to the National city ban for aa agreed price of a.l.S0S.Ni. In the course of ths article It Is said: N aetnal payment ever was mad by tbe bank, as the Institution Is a Federal depository and has on depoxlt from $3,000,000 to '.!5.0"(.0uo belonging to ths Federal OoYern-ment." OoYern-ment." OoYern-ment." The full fare Is mine, and it Is to that statement that I would tak exception, as slso to the Implication that the fact that the City Bank is a Government depository In som way affects the question cf payment. If I. being a depositor In a siven bank, sell to that bank anything, stationary let us fay, at aa agreed prtc of floo, and la settlement therefor receive from the bank Its che.lt for (list, and then dejjoslt that check to my own credit In ths same bank, will any one nutation nutation ths fa-t fa-t fa-t of parment? Suppose thst Instead Instead of glvinlg m a chock, ths bank notifies me that my account has been credited with $10O, Is not ths payment Just as much a fact aa In the other rase? In either case the bank's resources have been decreased and It a liabilities increased by fioo. In either cas ths bank must pay ms Slow-on Slow-on Slow-on demand. Now this seems to be exactly the position of things between the Federal uovernmeni ana tha National City Bank. Tha money paid for th Custom House has been all alonit In ths City Bank to the credit of th Oovcrnment and subject to a Treanury draft. Bv Its lai statement to the Control- Control- the Katloaal City Bank reports only som t'J SjnniOn o Government money on deposit Which rcther contradicts th statement of tour article that at no ttnw alnre the Gov eminent was credited with th S3.21fi.tmo on th purchase has the Government balsnt-e balsnt-e balsnt-e In ths ban been drawn below that fisure." It would seem as thoush th Treasury De-Mruunl De-Mruunl De-Mruunl had bera dotna cotirlderable draw ing. But whether ths Treasury draws umn ths City Bank or lets Its money lis there on deposit, deposit, ths payment of a certain sum ws made aD th Government received credit for that sum on ths books of th bank. That seems to me to be beyond controversy. As an old and " constant ' reader. I feel sure that thee statmenta slipped Into THS TIMES without their writer Intending all that they mvm. but becaas. whatever waa Intended. they seem likely to mislead. I bav taken th liberty or writing tnis. u New York. Jan. 1. 1006. MAYER FOR INVESTIGATING.

Clipped from
  1. The New York Times,
  2. 20 Jan 1906, Sat,
  3. Page 6

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  • president tax board

    todonnel – 20 Apr 2013

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