Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1873-04-12

partners. he shall declare upon oat
before the Assessor the number
shares held by each of them in sue
/ banking business. ascertained as aboy
provided; and the shares so held by an
partner shall be included in the valr
alton of his taxable property in the as
ses ;ment of all taxes levied in tn
C ty, town, ward or civil district wher
such Individual banker is 10
| lcated. and not elsewhere; and such in
diyidual banker shall pay the sam
and make the amount so paid charg
| in his account with such parties
and if such individual banke
have no partners, he shall be held t
be the sole owner of all the shares il
such business of banking, and tn,
same shall be included in the valua
ton of his personal property in the as
sessment of all taxes levied in tn,
city, town; ward or civil district whers
his bank is located, and not elsewhere
SEC. 10. Be it further enacted, Tha
there shall be kept, at all times in the
Office where the business ofsuch banl
or banking association, organized un
der the authority of this State, or the
United States, shall be transacted, .
full and correct list of the names and
residences of all the stockholders
therein, and the number of share
held by each, and such list shall be sub
ject to the inspection of the officers
authorized to assess taxes during the
business hours of each-day on which
business may be legally transacted.
SEC IL. Be it further enated, That
when the owner of any bank or bank
ing association organized under the
laws of this State, or of the United
States, shall not reside in the same
place where the bank or banking
association is located, the Revenue
Collector for the State county or cor
poration, shall respectively have the
same powers, as to collecting the tax
so assessed BY this act, as they have by
statute, when the person assessed has
removed from the town, city, ward or
district in which the assessment was
made; and the Revenue Collector, re-
ceiver of taxes, or other officer author
lied to receive said tax for the collec-
tor, may all, or either of them, have an
an action to collect the tax, from the
avails of the sale of his shares of
said stock; and the tax on the shares
of said stock shall be and remain a
lien thereon, until the payment of said
taxes. ~
SEC II. Belt further enacted, That
for the purpose of collecting such
taxes, and in addition to any other
laws of this State not in conflict with
the Constitution of the United States,
relative to the imposition of taxes, it
shall be the duty of every such bank
or banking association, and the man
aging officer or officers thereof, to re-
tain so much of any dividend or divi-
dends belonging to such stockholders
as shall be necessary to pay any taxes
assessed, In pursuance of thisact, until
it shall be made to appear to such Off
Ger, that such taxes have been paid.
Sec. 13. BE it further anacted, That
the privileges and franchises granted
by the Legislature of this State, to
savings banks, or institutions for saw
ing. are hereby declared to be person
al property, and liable to taxation as
such, In the town, ward or district
where they are located, to an amount
not exceeding the gross sum of their
surplus earned, and in the possession
of said banks or Institutions; and the
officers of such institutions or banks
may be examined, on oath, by assess
ors as to the amount of such surplus:
and the property of such banks and
institutions shall be liable to seizure
and sale for the payment of all taxes
assessed upon them for said privileges
and franchises. ~
Sec, a. Be it further enacted, That
this act shall not be so construed, and
shall not so operate, as to exonerate,
or lease from taxation, any COM
pany or corporation, whose charter ex-
empts stock and shares thereof from
taxation; but it is hereby enacted, that
in all cases where such stock is ex-
empted, such company or corporation
shall be assessed in such way as may
be lawful. as1y
SEC. 10. Be it further enacted, That
stocks of merchandise, wares, goods
and chattles, sold at auction or on COM
mission, shall be assessed for taxa
ton, and the following is declared to be
the method by which the amount to be
returned or assessed shall be deter
mined, viz: Where any person, COM
pany, or firm shall have sold goods,
wares, merchandise, or chattels at auc-
ton, or ON commission, whether in the
regular business of selling at auctions
or on commission, or shall have made
such sales in connection with any
other business, to ascertain the aggre-
gate of said auction or commission
sales, for the period engaged in busi-
ness, not exceeding twelve months,
and return one-third of said amount
of sales for taxation.
SEC. is. Be it further enacted. That
merchants shall pay an ad ralorem
tax upon the capital invested in their
business, equal to that levied upon
taxable property; and the term ''mer-
chant, as used in this act, includes
all persons, or partnerships, en-
gagged in trading or dealing in any kind
Of goods, wares and merchandise,
either on land, or in any steamboat,
wharf-boat or other craft, stationed or
plying in the waters of this State, and
and whether such goods,
wares and merchandise be kept on
hand for sale, or the same be purchas-
ed and delivered for profit, as ordered.
But nothing in this act contained shall
in anywise effect the collection of priv
ilege taxes upon the vocations declared
by this act to be privileges.
SEC. II. Be it further enacted, That
no merchants shall commence and con-
tinue business in any county of this
State without obtaining license from
the clerk of such county, in accord
ance with the provisions of this act;
and every person. or individual men,
ber of any partnership so offending,
shall be subject to prosecution for
each days violation of the law; and,
on conviction, shall be fined not less
than one hundred dollars for each Of
fense.
SEC. IS. Be it further enacted, That
any merchant applying for license
shall, before receiving the same, exc
cute bond to the State, with good
security. to be approved by the Clerk
of the County Court, in the sum of
one thousand dollars; conditioned,
that such merchant will render to the
clerk issuing the license at the end of
twelve months from the date of the
bond, a true statement, under the oath
prescribed by this act, of the amount
OF capital invested in such business
during said twelve months, and will
nay 10 the clerk the tax thereon. For
ia King the bond and issuing the license
the clerk shall be entitled 10 one dol