Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1851-05-29
Published by James Harper.l
NAMs e2 NNNa.
AN ACT


To tax banks and bank and other stocks the
same as other property is now taxable by the
laws of this State.
Sec. |. Be IL enacted by the General
Assembly of the State of Ohio, That
it shall be the duty of the President and
Cashier of each and every banking in
stitution incorporated by the laws of this
State, and having the right to issue bills
or notes for circulation, at the time for
listing personal property under the laws
of this State, to list the capital stock oi
such banking institution, under oath,
at its true value in money, and return
the same, with the amount of surplus
and contingent fund belonging to such
banking institution, TO the assessor oI
the township or ward in which such
banking institution is located; and the
amount so returned shall be placed on
the grand duplicate of the proper coun-
ty, and upon the city duplicate for city
taxes, in cases where such city taxes
does not go upon the grand duplicate,
but is collected by the city officers, and
taxed for the same purposes, and to the
same extent that personal property is or
may be required to be taxed, in the
place where such bank is located; and
such tax shall be collected and paid
over in the same manner that taxes on
other personal property are required by
law to be collected and paid over; pro-
vided however that the capital stock Of
any bank shall not be returned or taxed
for less amount than its capital stock
paid in.
Sec. 2. Each assessor of any town.
ship or ward, within the limits of which
any bank or banking company may be
located, shall, in case any President or
Cashier OF such bank or banking COM
pany, shall refuse or neglect to make
out and deliver to the assessor the state
ment herein required, enter as the
amount OF capital, so per cent. in ad-
dition to the amount of the capital stock
of said bank or banking company, and
shall return the same TO the county au-
ditor, or to such other officer as the law
regulating his duties may require; pro-
vided, that in cases where city taxes are
assessed and collected by the city au-
thorities, the taxes upon banks as provi-
ded for in this act, shall be assessed
and collected the same as city taxes up
on other property, for the time being,
are assessed and collected in such city.
Sec. 8. The Ohio Life Insurance
and Trust Company shall be taxed upon
its capital stock, loaned in the several
counties. which shall be returned by the
president or cashier of the company,
under oath, to the several county audi
tors, in the month of MAY, annually,
the average rate per cent. Of the taxes
for all purposes levied upon the real
and personal property of such counties;
and if the said company shall fail TO re-
turn to the auditor of the several coun-
ties the amount of its capital stock
loaned in each county, before the first
day of June, annually, the county au-
ditor shall ascertain from the record of
mortgages or other evidence, the amount
of the loans made by said company in
his county, and he shall place the
amount so returned, or ascertained, up
on the duplicate, and levy thereon the
average rate per cent. of the taxes le-
We'd for ell purposes, upon the real and
personal property of the county, which
tax shall be collected by the county
treasurer, and distributed, by giving TO
the State its proportion, according to the
rate levied for State purposes, and TO the
county, townships, towns, corporations,
and rural districts, their share OF the
balance. respectively, in proportion to
the several amounts on which the aver
age rates shall have been determined;
and in case default shall be made in the
payment of such tax, within the time
limited by law, it shall be the duty of
the county treasurer to proceed to COL
lect The same; and for that purpose he
may file bill in chancery in the court
of common pleas of the proper coun-
ty, setting forth the amount Of taxes as
sessed against said company, and the
names of the debtors of said company,
as shown by the records of such county,
and it shall be the duty of such court to
take jurisdiction thereof, and to grant an
injunction, appoint receiver, and make
such other and further order, as may be
necessary to subject the interest accru-
ing on the loans of said company, to
the satisfaction OF the tax Aforesaid,
with the penalties and interest thereon,
as provided by law; and all the capital
stock Of SAID company, not loaned in
the several counties of the State, and
returned and taxed as aforesaid, shall
be listed for taxation, and returned by
the president and cashier Of said insti-
tuition, under oath, at its true value in
money, and entered, together with the
surplus and contingent fund of said
company. upon the grand levy for Ham
ilton county, and taxed for the same
purposes and to the same extent that
other personal property is taxed in the
ward in which the Office of said compa-
ny is kept.
Sec. 4. 1t shall be the duty of every
assessor in whose jurisdiction there shall
be located any bank or banking compa-
ny, to leave with some proper officer Of
said bank or banking company, notice
to make out and deliver the statement
required in the first section of this act.
Sec. 8. The taxes levied and collec-