Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-05-20

StpChh VI 6fcfJ hbuu ubb DbTblD BA-
pressy excepted, all Judgments recog-
nizances and DEGREES for the payment
of money; all judgment notes and GER
tificates OF indebtedness Except such as
are given in good faith for goods sold
and delivered, for wages and such judg-
ment note or vthar evidence OF in.
debtedness, as may he given for short
periods in the course of business and not
used or intended as Investments y all
alienation bonds bearing interest, or
when the interest is included in the
body thereof, all interest bearing loans
to any person firm, company, limited
partnership. hank, banking association
and corporation of whatsoever kind,
whether doing business in this State
or elsewhere. Payment OF interest in
advance ur adding it to the principal
shall in no case exempt the lender or
creditor from the payment of the tax.
"The following are excepted and ex i.
cluded from the operations of this act :
All loans and evidences of indeb tedness
of the United Suites, OF the State of
Delaware or OF any of the counties
thereof: OF religious or benevolent asso.
Citations whose real estate is by law
exempt and CT such other securities as
are now exempt by express provisions
OF law; all loans which are made to local
manufacturing companies, hypothecated
upon the real estate OF such companies,
when their real estate is expressly ex-
empt by law; all stocks. bonds and mort.
cages in educational, charitable. benevo.
lent or cemetery institutions. whether
incorporated or not, and all Investments
by savings banks and shares Of building
and loan associations and investments
made by them.
"Sec.3. All classes OF property herein
named and made subject to taxation,
shall he assessed and taxed, whether
the same be situated 10 this State or
elsewhere, or whether the same be held
as owner or in trust for the owner in
any capacity Whatsoever. and the person
owning, holding or controlling the sams
shall be required to make returns
thereof to the assessor of his hundred or
assessment district, showing distinctly
wher9 the same ia situated, owned or
held, and the owner thereof. And when
such returns are received by the as
SCISSORS, they shall be arranged alpha
betically in the list of other taxable
property provided. however, that any
investments liable to assessment and
taxation by this act, which are taxed
in any other State or country, are ex-
pressly exempted from the provisions
Of this act.
''Sec. a. The president and secretary
of all corporations and associations
liable to taxation under this act, shall,
on the first day of December in each
year, make their respective returns
under oath to the assessor OF the hun
dred or assessment district in which the
principal office or business place of the
corporation or association is situated !;
which return shall show the whole
number OF shares in each of said cor
porations or associations, the market
value of each share and the aggregate
market or real value of all the shares,
with the name of the owner and the
number of shares owned by each re-
spsctively.
''Sec. 5. Any officer of any corpora
tion or association failing to make
return or report as herein required,
shall be guilty of a misdemeanor, and
upon conviction thereof shall pay fine
of not less than $40 nor more than S5UO,
or be imprisoned not less than 10 days
nor more than aix months.
''Sec. 6. The intention of this act
being to tax the owners and investors
of capital, and not the borrowers or
debtors; therefore, every individual
person, corporation, company or asso.
citation whatever, and every officer
thereof, asking, demanding, contracting
for or receiving any money, or consid-
GRAFTON whatever IN account of said
tax, in reduction thereof or otherwise,
or who shall by any device whatsoever
impose or try to impose such tax or any
part thereof upon any debtor whomso-
ever under any pretext whatsoever,
shall be guilty OF a misdemeanur, and
shall upon conviction thereof be fined
in any sum not less than SlD0 nor more
than $1,000 and costs.
''Sec. Z. Each and every debtor by
bond, judgment, mortgage. .recogniznnce
decree or otherwise (whose debt ia
liable to taxation under this act) when
the creditor is non-resIdeit of the
county or State, shall be liable for the
tax on his debt, in the first instance;
but upon payment thereof, he shall be
entitled and ii shall be his duty to de-
duct the same from tho interest due or
accruing thereon; and any such creditor
refusing to allow such credit on taxes
so paid shall forfeit all accrued interest
and no debtor shall remit or make any
pn9 hout " VI tu6 Dtdbb
until the tax imposed upon his said
debt by this act has been paid.
Sec. 8. In making the assessment
and collecting the taxes assessed under
this act, the assessors and collectors
shall respectively have I'LL the power
and authority now by law conferred
upon them in the assessment and col
lection of taxes, in addition to what il
conferred by this act. And the public
offices of the respective counties and
the records thereof, during business
hours, shall at all times be open to
inspection free of charge.
Sec. 0. Dchts due by insolvent
debtors, and where there is no other
security shall not no taxed. and when
hcud and mortgage are given for the
same debt the mortgage only shall be
taxed and railway or railroad com
panies. and the stock or bonds o. such
company. paying stipulated tax or
sum in lisu Of all other taxes as pro
vided by law shall be exempt from the
taxes specially provided for in this act.
Sec. 10. Every plaintiff in any suit
brought in any court, or before a
Justice OF the peace to enforce pay
msnt OF any debt taxable under the
provisions of this act after the first of
July. A. d., 1893. shall file with his
order or precipe directing the same,
and before any writ or PROCESS shall