The Russellville Democrat., 1879-03-13
AN ACT
To be An Act entitled An Act to Amend Sections 5O9S, 5O99, 5f00, Jf0Z, and to Repeal Sec ton 51O3, of Gantt's Digest.

l OkOVs bAV<~s HUI tO EAStttdA 1Gt-
 tion 51O3, of Gantt's Digest.
 Be it enacted by the General As
 scmbly of the State of of Arkansas.
 Section l. That Section 509S, oI Gantt's Digest. be so amended as to
 read as follows, to-wit: Section 509S. The Board ot Railroad Commission
 CTS of this State, created by and de
 seribed in Section of Act approved
 March 10, 1877, entitled An Act fil- ling vacancies Tn Board of Railroad Commissioners of this State, ss!!isail
 on the first Tuesday Of June each
 year, prncaed to ascertain the value
 of ali personal property, including road bed, water and wood stations, passenger and freight depots, offices,
 furniture, and such other property, real and personal, as is necessary to the daily running operations of each of the Railroad or Railway compa-
 nies having existence under the laws of this State, or operated, in whole or in part, thereln, together with all monies and credits of such Compa- nies, and appraise the same accord ing to it's value; that value to be as certained in the following manner: The said Board shall ascertain the net earnings of each of said compa- nies for the year ending 3ist day of December last proceeding the date of said appraisement, and shall ap- praise the value of such property with reference thereto, and the net earnings thus ascertained shall be the assessed value of such property, and be taxed accordingly. This method of assessment to be and re- main in force from the period of ten years from and after the passage of t1is act. (Amended by shc House providing in substance that the net earnings shall be estimated at not less than p per cent of the gross re ceIpts.
 Section }. Sec. 5o99, of Gantt's Digest, shall be so amended as to read as follows:
 ''Sec. 5099. Such Board shall have power to require from the President, Secretary, Receiver and principal accounting officers of said Com panies, or from either of said officers, a detailed statement of such nett earnings, and the items and particu- lars constituting the same. and may examine the books of such Company and any or all of it's officers, receivers, servants or agents under oath, touch ing any matter relating to the same, and any member of sad Board pres ent shall have power, and is hereby authorized, to administer all such oaths. In ascertalning the value of the personal property of any of such Companies, the road bed, water and wood stations, passenger and freight depots, offices, and such other reality as is necessary to the daily running operations ot such roads, shall be treated and estimated by said Board as personal property"
 Sec. 3. That Section 5100, ofI Gantts Digest, shall be amended so as to read as follows:
 ''Sec. 5l00. Any President, Secre- tary, Receiver, accounting officer, servant or agent of any of said Com panies who shall refuse to attend be- fore the said Board when required to do so, or refuse to submit to the in spection of said Board any books or papers of such Company in his pos session, custody or control, or shall | refuse to answer such questions as shall be put to him by said Board, or its order, touching the business or earnings of said Company, shall be deemed guilty of a contempt of said Board, and may be confined by order of said board in any county all in the State until he shall com ply with such order and pay tue costs of his imprisonment"
 Sec. 1. That Section 5I02, of Gantt's Digest. be amended so as to read as follows:
 "Sec. 1. When any railroad or Railway Company has part of it's 'oad in this State and part tn .reof n any other State or States, the sad Board of Railroad Commissioners shall take the value of such property, moneys and credits of such Compa- lies so found and determined as ! aforesaid, and divide the same in he proportion the length of such 'oad in this State bears to the whole ength of such road, and determine ,he value of the property of sad road n this State accordingly, equalizing he relative value thereof among the through which it runs in his State, according to the preced- ng section"
 Sec. ,. That Section 5l03, and all tets and parts of acts in conflict with this act be. and the same are hereby repealed, and this act to take effect from and after it's passage.