The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-22


shall mean wires.
Sec. IA. The State assessors shall ascer-
tain from the returns or otherwise the
true market values OF the shares Of each
corporation included In the provisions OF
the preceding section, and snail estimate
ell OF said shares constituting its
capital stock on said first day
OF January. They shall also ascertain and
determine the value and amount OF all
real estate, machinery and tangible per-
sonsl property other than rolling stock
owned by each corporation and subject
to local taxation, and OF The deductions
provided in the following section.
Sec. 10. Every corporation embraced
in the provisions OF section thirteen shall
annually pay q tax to this State upon its
corporate franchise or property within
this State, at a valuation thereof equal 10
the aggregate fair cash value OF the shores
in its capital stock as determined in the
preceding section after making
the deductions provided for Ia
this section, at rate equal TO
the percentage OF the whole amount OF
tax assessed upon property in all the
towns OF the State for the year preceding
the first day OF January ia each year TO
the aggregate assessors valuation OF all
the towns for the year preceding said hrst
day of January; provided that the
tax assessed upon polls shall not De
included in said apportionment from
the valuation ascertained and de-
termined as aforesaid there shall be de-
Quoted: First, in case Of railroad ana
teieg raph companies. such portion OF the
whole fair cash valuation OF their capital
stock, ascertained as aforesaie, as Is pro-
portional TO the part that the Length oi
their lines lying without the State
bears TO the total length OF their
lines, and also an amount equal to the
value as determined by the board OF
State assessors OF their real estate, ma
chinery and tangible personal property
other than rolling stock located ana SUP
ject to local taxation within the state:
Second, in case OF telephone companies,
such portion of the hole fair cash valu-
alton OF their capital stock, as
certcined as aforesaid, as Is propor-
tional TO the part that the mum ber OF
telephones In use by themor under
their authority or with their permission
without the State bears 10 the total num-
Der of telephones in use by them or unGer
their authority or witt their permission,
and also an amount equal TO the value, as
determined by the State assessors, OF their
real estate, machinery and tangible prop
erty located and subject TO local taxation
within the State.
Sec. 10. Said State assessors shall as
soon as may be after the frat Monday in
May in each year, notify the treasurer OF
eacn corporation liza ole thereto, of the
amount of its tax under section 10 to be-
come due and payable TO the General
Treasurer of the State within 30 days from
the date OF such notice; provided that II
shall not be due and payable earlier than
the first day of August.
Sec. IL. Any corporation taxable under
the provisions of sections II, 13, Ia, 10 ana
16, neglecting to make the returns re-
quired by this act, or refusing or neglect
ing when required thereto to submit to
- sl.A To- m
shall forfeit to the State as a
penalty an amount equal to the tax
which shall be assessed against it for
the year in which such neglect or refusal
shall occur; which penalty may be recov-
cred by an action of the case brought In
the name OF the General Treasurer in any
county. IL any corporation fails TO pay
the taxes required to be paid to the General
Treasurer, under the provisions OF
sections twelve, thirteen, fourteen,
fifteen and sixteen, he shall
forthwith commence an action OF
the case In his own name, as General Treas
urer, for the recovery of the same, with
interest at the rate OF II per cent. per
annum until the same are paid, and costs.
In any proceeding under this section the
certificate of the State assessors shall be
competent evidence of ell determinations
made aud notices given by them, and OF
all values, amounts ana other facts re-
under this act.
Sec. 1S. The lessee OF the real estate or
machinery or property OF any corporation
taxed under sections twelve, thirteen,
fourteen, fifteen and sixteen, shall be liza
bic as well a. he lessor to pay the amount
OF said tax, and upon such payment may,
in he absence of any agreement To the
contrary, retain the same out OF the
amount reserved for the rent of said prop
erty.
Sec. 49, No taxes shall be assessed in
any town for sny purpose upon the shares
in the capital stock Of corporations tax
able under sections twelve, thirteen, four
teen tifteen and sixteen, for any year for
which they pay TO the General Treasurer
the tax under said sectlonSi
but such proportion of the tax
collected OF each corporation under
said section, as corresponds TO the
proportion OF its stock owned by persons
residing in this State shall be credited
and paid to tho several towns, where 10
appears from the returns or other evil
dence that such shareholders resided on
tho first day OF January in each year, ac-
cording 10 the number of shares so
held in such towns respectively,
held by other corporations, partner
ships, or by trustees, executors, admins
traitors or guardians, the proportion OF
such tax CORES pOndiDg to the amount of
stock so held shall be credited and paid to
the towns where the stock would have
been lawfully taxable; and provided
further that when a town owns stock in
any corporation taxed under this act
return TO such town shall be made
in like manner as provided in the case OF
stock held by individuals residing in said
town.
Sec. 20. Said State assessors shall ascer-
tain and determine the amount due 20
each town under the preceding, and shall
notify the treasurer of each town thereof
and certify the amount as finally deter
mined to the General Treasurer, who shall
thereupon LAY over the same.
Sec. II. Every corporation taxable
under the provisions OF sections twelve,
thirteen, fourteen, fifteen and sixteen,
snail, when required, submit the books
thereof TO the inspection OF the State as
SCISSORS, and its treasurer and direc ors to
examinations on oath in regard TO all
matters affecting the determinations
which are TO be made by said State as
SCISSORS under said sections.
Sec. %. The tax on corporations herein
imposed shall not affect or prevent the
imDos itiOn and collection of any other tax