The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1848-04-22
1870

u'Sliiet vi Guy, respectively, and before
proceeding to fix the valuation of the
capital stock OF any such institution or
company, the said commissioners, levy
courts or appeal tax court, shall give
twenty days notice to the president or
I'oth"r proper officer ofthe said institution
OF company, of the time oftheir meetin.
to fix said valuation, in order that tn.
said PfcslGeat or other proper Officer
may produce before them such evidence
in regard to the true value of the said
capital stock as he may deem proper,
and If any of said institutions or compa-
MES shaIreuseto appear or render such
evidence in regard to the vatue of their
stock, it shall be the duty of said COM
rmssioners, levy courts or appeal tax
court, OH the best information they cal,
obtain, 10 value the said caMtt} stock of
said institution or company to The utmost
sum the same may be worth in cash, and
shall assess such institution or company
accordingly, and after such valuation is
fixed, it shall be the duty ofthe said COM
nissioners, levy courts and appeal tax
court, to deduct f-om the amount of the
assessment ofproperty in the said coun-
ties, district and city, respectively, the
assessed value of all real and personal
estate belonging to the said institutions
or companies, and the State, county or
city taxes shall thereafter be 4evIed on
the value OF said capital stock fixed as a.
toresad; and the satd comm ssoners, levy
courts and appeal tax court shall send to
the treasurer OF Maryland Sin account Of
the assessment made under this act, as
soon as the same shall be completed.
SEC, 6. Amd5e it e"octeA That it shall
be the duty CT the president or other
proper officer of the ranks and of all
other incorporated institutions and COM
panres chartered by this State, semi-an-
nualIy, on the first day of January and
the first day Of July in each and every
year, to pay to the Treasurer OF Mary
land the amount Of the tax imposed upon
the capital stock OF said banks, institu.
tons or companies by the act OF March
session eighteen hundred and forty one,
chapter twenty three, and its supple
ments, whether such banks, institutions
or companies, or any of them, have or
have not declared any dividends or earn
ed any profit, without regard TO the place
OF residence of the stockholders therein.
Sec. l. And be it enacted, That in all
cases where any incorporated institution
or company in this State has no capital
stock, so called, the property and assets
Of SAID company, whether real estate,
Judgments, private securities, or of whats,
ever nature shall be assessed and the tax
levied thereon, and it shall be the duty
Of the President or other proper officers
Of said institution or company, to pay to
The Treasurer the amount OF State taxes
due en- said property and assets, at the
lime and IN the manner provided in the
sixth section OF this act, and also to paw
to the collector of the county, the amount
Of all taxes due TO said county on the
said property and assets.
SEC. 8 lind he il cnactcd, That it shall
be the duty OF the President or other
proper officer of any Savings bank, in
stitution or other corporation IN this
State, which shall receive deposits and
give therefor certificates Of deposits bear
ing interest, to furnish to the Treasurer
of, Maryland, cnshe first day OF July, in
each and every year, the aggregate a.
mount OF deposites in such corporation,
and to pay over to the said Treasurer on
said day, out Of the interest due TO the
depostors the State tax ON said certif-
Gates; and said President OF other officer
shall in like manner furnish to the CONF
mlssioners, levy court, OF appeal tax
court, as the case may be, Of the county,
district or city, in which said institution
or corporation is situated, a list Of the de-
positors in said institutions or corpora-
tons respectively, with the amounts de-
posted by them at the time of the an
nual meeting ofthose bodies for levving
county taxes, or shall agree with the said
levy court or appeal tax
court, as the case may be, to pay the tax
cs on such amount Of deposits, as may
be agreed upon between the said COM
levy court, or appeal tax
court, without resort to the individual
lepositors.
SEC. 9. Ind be it enacted, That it shall
be the duty Of the president or other
proper officer of any incorporated ihsti-
luton or company of this State, which
shall have issued any bonds, certificates,
or other evidences of debt bearing inter-
est, or any loan contracted by them, on
he first day of July in every year to
,ake return to the Treasurer of Mary
and of the aggregate amount Of said
bonds, certificates or other evidences Of
debt, and to pay over to the said Tteasu-
rer, on said day, out OF the interest due
TO the holders of the said bonds, certlf-
Gates or other evidences of debt, the
State tax thereon, and said president OF
other officer shall in like manner furnish
10 the commissioners, levy court or ap-