The Democratic advocate., 1878-05-18
CHATTER 342.
Cumberland and Pennsylvania
RGilrOad Company.
AN ACT

10 authorize the Comptroller of the Treasur-
IN settling the amount due the State by tn,
Cumberland and Pennsylvania Raiiroa,
Company for the State tax upon its eros
receipts to deduct therefrom the amount o
taxes erroneonsly paid the State by III,
Consolidation Coal Company, upon the val
uation OF the property of said Cumberlau,
and pennsylvania Railroad Company, in
cluded by mistake in the valuation of tn,
stock of the Consolidation Coal Company
and to deduct the amount of the valuation
OF such property from the valuation of tht
stock OF the Consolidation Coal Company
Tor the purposes of taxation.
Whereas, The Consolidation Coal Com
pany IS the owner of all the stock of tn,
cumberland and Pennsylvania Railroad
Company.
ARd Whereas, Said Consolidation Goa
Company has, by mistake, included in the
the valuation of its stock for the purposes o.
State taxation the value of all the property oi
said Cumberland and Pennsylvania Railroad
Company, which said Railroad Company i:
subject to taxation for State purposes upon
its entire gross receipts under the act oi
eighteen hundred and seventy-two, chapter
two hundred and thirty-four; and the act oi
eighteen hundred and seventy-four, chapter
iour-hundred and eight, in lieu Of all other
taxation upon its property for State purposes.
now, therefore,
Section l. Be it enacted by the General
Assembly of Maryland, That the Comptroller
OF the Treasury be and is hereby, authorized
and directed in ascertaining the amount due
the State for the State tax upon the gross re-
ceipts of the Cumberland and Pennsylvania
Railroad Company, for the years eighteen
hundred and seventy-two to eighteen hundred
and seyenty-six inclusive, to allow an abate-
ment therefrom to the extent of nine thou
sand two hundred and eighty-nine dollars and
slxtv cents; said amount being the amount OF
State tax upon the valuation of the property
OF said Cumberland and PENNSYLVANIA Rail.
road Company, included in the valuation of
the stock of the Consolidation Coal Compa-
ny, and which said sum has been erroneously
paid by the Consolidation Coal Company. to
the State; and the Treasurer of the State is
hereby authorized to receive from said Cum
berland and Pennsylvania Railroad Company,
the amount of the State tax upon its gross
receipts for the years aforesaid, less the
amount of said abatement in full satisfaction
OF said State taxes upon its gross receipts for
the years aforesaid, renting any penalty
whatever because of the on-payment of said
State taxes; provided said Cumberland and
Pennsylvania Railroad Company shall prompt
ly pay said State taxes after the adjustment
thereof in the manner aforesaid.
Sec. 2. And be it enacted, That the Conn.
troller of the Treasury be, and is hereby au-
thorlzed in ascertaining the amount due for
the State tax upon the gross receipts of the
Cumberland and Pennsylvania Railroad Com
pany for the year eighteen hundred and
seventy-seveu, to allow an abatement there
from TO the extent of the amount of State tax
upon the valuation of the property of said
Cumberland and Pennsylvania Railroad Com
pany, which by mistake has been included in
the valuation of the stock of said Consolida-
ton Coal Company upon which the State tax
for the year eighteen hundred and seventy
seven has been duly levied and assessed, and
the treasurer of the State is hereby author
lied to receive the amount of the State tax
upon the valuation of the property of said
Cumberland and Pennsylvania Railroad Com
pany, which by mistake has been included in
the valuation of the stock of said Coal
Company upon which the State tax for
the year eighteen hundred and seventy
seven has been duly levied and assessed,
and the Treasurer of the State is hereby au-
thorized to receive the amount of the State
tax on said gross receipts, less the amount of
the abatement aforesaid, in full satisfaction
Of the State tax on said gross receipts for the
year aforesaid.
Sec. 3. And be it euated, that the Comp
troller of the Treasury be, and he is hereby
authorized in ascertaining for the purpose of
State taxation the valuation of the shares of
stock of the Consolidation Coal Company for
the year eighteen hundred and seventy-eight,
and annually thereafter, to deduct from the
market value of said shares the valuation of
the property of said Cumberland and Penn
sylvania Railroad Company, while said Con-
solidation Coal Company continues to be the
owner of the stock of said Railroad Compa-
ny; proUided, said Railroad Company coutin-
ues to pay the State tax upon its gross re-
ceipts as required by the laws of this State.
Section 4. And be it enacted, That this
Act shall take effect from and after the date
of its passage.
EDWARD LLOYD,
President of the Senate.
FETTER S. HOBLITZELL.
Speaker of the House of Delegates
Approved April 1st, 1878.
JOHN LEE CARROLL,
Governor of Maryland.
We hereby certify that the aforegoing is d
correct copy of an act of Assembly passed
at January session, 1878.
AUGUSTUS GAssAwAY,
Secretary of the Senate.
MIIToN Y. KIDD,
Chief Clerk House of Delegates.