Fremont weekly freeman. [volume] (Fremont, Sandusky County, Ohio) 1850-1853, 1851-04-26

taxable BY the laws of this State.
Sec. l. Be ii enacted By the General as
sen.Jly of the State Of Ohio, That it shall be
the duty of the president and cashier Of each
and every banking institution incorporated by
the laws of this State, and having the right to is
sue bills or notes for circulation,at the time for
listing personal property under the laws of
this State, to list the capital stock of such
banking institution, under oath, at its true val
ue in money, and return the same, with the
amount of surplus and contingent fund be-
longing to such banking institution, to the as
SCISSOR of the township or ward in which such
banking Institution is located; and the amount
SO returned shall be placed on the grand du-
plicate of the proper county, and upon the city
duplicate for city taxes, in cases where such
city taxes does not go upon the grand dupii-
cate, 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 re-
quired to be taxed, in the place where such
bank is located; and such tax shall be collect
ed and paid over in the same manner that tax
es on other personal property are required by
law to be collected and paid over; provided,
however, that the capital stock of any bank
shall not be returned or taxed for less
Sec. 2. Each assessor of any township 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 bank
ing company, shall refuse or neglect to make
out and deliver to the assessor the statement
herein required, enter as the amount of capi-
tai. so per cent in addition TO the amount of
the capital stock of said bank or banking COM
4 1el.,1 al,
ty auditor, or 70 such other officer as the law
Regulating his duties may require; provided,
that in cases where city taxes are assessed
and collected by the city authorities, the tax
es upon banks as provided for in this nct,shaIl
be assessed and collected the same as city
taxes upon other property, for the time being,
are assessed and collected in such city.
Sec. 3. The Ohio Life Insurance and Trust
company shall be taxed upon its cvptal stock,
loaned in the several coanties, which shall be
returned by the president or cashier of the
company, under oath, TO the several county au-
ditors, in the month of May, annually, the av-
erage rate per cent of the taxes for all pur-
poses levied upon the real and personal prop
erty of such counties; and if the said compa-
ny shall fail to return to the auditor of the
several counties, the amount of its capital
stock loaned in each county, before the first
day of June, annually, the county auditor shall
ascertain from the record of mortgages or 9TH
er evidence, the amount of the loans made BY
said company in his county, and he shall place
:he amount SO returned, or ascertaincd, upon
the duplicate, and levy thereon the average
rate or per cent. of the taxes levied for all pur-
poses, upon the real and personal property of
the county, which tax shall be collected by
the county treasurer, and distributed, by Civ
ing to the State lis proportion, according to
the rate levied for State purposes, and to the
county, townships, towns corporations, and ru-
raj districts, their share of the balance, re-
spectlvely, In proportion to the several amounts
on which the average 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
countytreasurer to proceed to collect the same
and for that purpose he may file billin chan
eery in the court of common pleas of the prop
er county.settng 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,
may be necessary TO subject the interest ae-
| cruing on the loans of said company, to the sat
isfaction of the tax aforesaid, with the penal
ties 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 presi-
dent and cashier of said institution, under oath.
at its true value in money. and entered to-
gether 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 Of
flee ofsaid company is kept
Sec. 4. 1t shall be ihe duty of every as
SCISSOR in whose jurisdiction there shall be To-
Gated any bank or banking company, to leave
with some proper officer of said bank or bank
ing company. notice to make out and deliv-
the statement required in the first section OF
this act
Sec. s. The taxes levied and collected in
pursuance of the provisions of this act, shall
be in lieu of any taxes which such bank or
banking company would, by existing laws be
required to pay on its dividends or profits.
Sec. g. Stocks or shares held in banks,
banking companies or banking associations, or
in otherincorporated companies or associations
in other States, and State stocks ofother States
held by corporations or citizens of this State
either for themselves or as agents or guard
ians shall be subject to taxation, the same as
bonds, mortgages, notes or other evidences OF
debts, held by citizens of this State are now
taxble by the laws of this State.
Sec. Z. All laws and parts of laws incon-
sistent with the provisions of this act,are here
by repealed.
JOHN F. MORSE,
Speaker House Representatives.
CHAS c. CONVERS,
| ------- - Sneaker of the Senate