Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-04-16
Heyied in the city, town, ward or civil dis.
Itr;ct where his bank Is located, and not else

sEa -
Sec. 10. Be it further enacted, That there
shall be kept at all times, in the Office where
fbe business Of such bank or banking asso-
citation organized under the authority of
this State or the United States, shall be
transacted, a full and correct list of the
names and residences Of all the stockholders
therein, and the number of shares held by
each, and such list shall be subject to the In
spection 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 enacted, mat
when the owner of stock in any bank or
banking 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
CORPORATION 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 as
sessment was made; and the revenue COL
lector. receiver of taxes or other ofhcer au-
thorized to receive said tax for the collector,
NAV all or either of them, nave an actlon
to collect the tax, from the aValls OF the sale
of his shares of stock; and the tax on the
share or shares of said stock shall be and re-
main lien hereon until the payment of
said tax.
Sec. r. Be it 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 managing Of
ficer or officers thereof, to retain so much
of anv dividend or dividends belonging to
such stockholders as shall be necessary to
pay any taxes assessed in pursuance OF this
act until it shall be made to appear to such
officer, that such taxes have been paid
| Sec. 10. Be it further enacted That the
privileges and franchises granted by the
| legislature of this State to savings-banks or
| institutions for savings, are hereby declared
to be personal property, and liable to taxa
ton rs 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 in
situations or blanks may be examined on
oath by assessors, 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
Sec. IA Be it further enacted, That this
act shall not be so construed, and shall not
so operate as to exonerate or release from
| taxation any company or corporation whose
charter exenpts stock and shares thereof
from taxation, but it is hereby enacted that
in all cases where such stock. is exempted,
such company or corporation shall be as
sessed in such way as may be lawful.
Sec Is. Be it further enacted That
stocks of merchandise, wares, goods and
chattels, sold at auction or on commission,
shall be assessed for taxation, and the fol
lowing is declared to be the method by
which the amount to be returned or assessed
shall be determined, viz: Where any per-
son, company or firm shall have sold goods,
wares, merchandise or chattels at auction or
on commission, whether in regular business
of selling at auction or Oh commission or
| shall have made such sales in connection
with any other business, to ascertain the
| aggregate amount of said auction or com
mission sales for the period engaged in
business, not exceeding twelve months, and
return one-third of said amount of sales fol
| taxation.
| Sec. f6. Be it further enacted, That
merchants shall pay an dd eal0re1n tax upon
| the capital invested in their business equa
to that levied on taxable property, and the
term merchants" as used in this act, in.
cludes all persons or copartnerships 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 Oh
plying in the waters of this State
and confectioners, and whether such goods
wares and merchandise be kept on hand TO
sale, or the same be purchased and deliv
cred for profit, as ordered But nothing il
this act contained shah in any wise affect thu
collection of privilege taxes upon the yoca
tons declared by this act to be privileges.
Sec. II. Be it further enacted, That NJ
merchant shall commence and continue
business in any county of this State withou
obtaining license from the clerk of sucl
county in accordance with the provisions o
| this act, and every person or individual
member of any copartnership 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 offense
Sec. 18. Be it further enacted, That ever,
merchant applying for license shall, before
receiving the same, execute a bond to the
State, with good security, to be approved
by the clerk of the county court, in the sun
of one thousand dollars; conditioned tina
such merchant will render to the clerk issu
ing the license, at the end of twelve month
from the date of the bond, true statement
under the oath prescribed by this act, of tn
amount of capital invested in such business
during said twelve months, and will pay t,
the clerk the tax thereon. For taking tn
bond and issuing the license, the clerk shall
be entitled to one dollar, to be paid at tn,
time of issuance.
Sec 49, Be it further enacted, That an,
merchant continuing in business shall renew
his license annually, and no license shall au
| where issued, not for a longer period thai
! one year. -...
See 90 Be it further enacted, That at the
expiration of twelve months from the DAFT
of his bond, each merchant shall file with
the county court clerk by whom the licens,
was issued a statement under oath, showing
l. All capital invested in his stock o
goods, wares and merchandise not other
wise reported as hereafter required, to b
estimated at not less than the cash value o
the largest amount of such goods, wares, ant
merchandise on hand at any time during tn
preceding twelve months.
q All capital employed during the prece
ding twelve months in any manner of ira
ding in which there is no stock of goods
wares and merchandise kept on hand TO
/ sale and the aggregate capital SO reported
shall be deemed the taxable capital of sucl
merchant upon which he shall pay to tn.
clerk the same tax as levied upon rea
estate and other taxable property for Stat
and county purposes; and the report herein
required shall be sworn to by that membe