Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1897-02-23


lars and does not exceed five hundred
THOUSAND dollars, two hundred doRarss
where the paid-up capital stock exec sdS
FIVE hundred thousand dollars and does
not exceed one million dollars, three hum.
| dred dollars; where the paid-up capital
| stock exceeds enc million dollars. FIVE
| hundred dollars: where the paid-up capt.
| tai stock exceeds one million dollars. FIVE
| hundred dollars. When application is
made for the. license herein provided 1t
| shall shas accompanied by the affidavit of
| the president or other chief officer of the
| corporation showing the amount of the
capital stock of such corporation. But
the payment of this tax in one county IN
the state a s evidenced by the license or
official certificate of the judge of pro-
bate shall be sufficient. Provided, that
the provisions of this subdivision shall
not apply to. banks and banking institu-
tions regularly organized as such.
16. Each person. firm, or corporation
| engaged. in the sole or principal business
of selling Illuminating or lubricating oils
at Wholesale, shall pay to the, state one
half Of one per centum of their gross
II. For each detective agency, company
or corporation dqing business in this state
Sec. So Be 1t further enacted, Every
share of any corpora ton bank or
banking association Incorporated undSr
the laws of this. or any o.her state, or
of the United States, to be assessed and
| collected in the county, city town or vii,
| lage Where any such bank is located, and
| to be assessed a its actual market value
| to the person in whose name such share
| stands on the books of such bank and
not to the bank or corporation. 1t is the
duty of the president and cashier of every
| such bank or banking association to
| make out and. return under oath to the
| assessor of the county in which the bank
| is located, a list. showing the total num-
Der of shares of the capital stock of such
| bank, the full name and residence of
| every shareholder as far as known, the
| actual market value of such shares and
| the par value thereof, the date of the last
| sale of stock in such bank, with the
| names of the seller and purchase ser there
| Of and the price paid for same, the an
| nual dividend declared the stock of such
bank for the last three years, the value
of the shares as shown by the books of
the corpora ton and by the last report
of the officers to the shareholders, the
amount of the surplus and the amount of
the undivided profits NOT included in the
surplus; and such president and cashier
shall, at the same time return to the as
SCISSOR of the county a sworn statement
of all real estate owned by the bank,
situate In. this tie, and the value there
of as assessed for taxation the same year;
and thereupen 1t shall be the duty of the
| assessor, after passing upon such assess
ment, to deduct from4the amount or sum
| at which the whole of the shares are as
| sessed, the amount or sum a. which the
| real estate, situate in this state and be-
| longing to such bank, Is assessed for
| taxation; and, the residue of values rel
| mairing after such DEDUCTION shall be
| the assessed value of the whole of such
| shares and. such, residue, divided by the
whole number of shares shall CONSTITUTES
| the value of each share for taxation, and
the bank shall pay for the shareholder,l
| the tax assessed. against such share.
1t is the intent ara meaning of this sub
division that the real estate of every such
bank shall be. assessed for taxation.
against the bank as other real estate in
this state is assessed to the owner there
of, and that the bank shall pay the taxes
thereon and the shares shall be assessed
for taxation against the shareholders at
their actual market value after deduct
ing therefrom the assessed value OF the
real estate of the bank and that the
bank shall pay for the shareholders, re-
spectively, the tax so assessed against
their shares. In arriving at the market
value of the shares there must be con-
sidered everything which gives them
value. such; as, the franchise, the author
lied capital and assets of the bank, the
real and personal property, the reserve
| fund, the surplus. the undivided profits,
and all other interests of the share
holder that would pass to purchaser
on a transfer of his stock; and except as
herein expressly provided. no separate
of value, or any. of them. 1t shall be no
ground of objection to, such assessment
of shares that it is entered upon the as
sessment book in the corporate name OF
the bank ~,s-1I q.
Sec. 81. Belt further enacted Every
share of any corporation organized un-
| der the laws of this state, or of any other
state, or CT the United Sta ties (other than
railroad, telegraph, express and sleeping
car companies, building and loan associa-
At I'd -. he or Ia f11r
tions) to be assessed and collected in the
county wherein such corporation has its
chief or home office in this state, and to
be assessed at its actual market value,
to the person in whose name such shares
stand on the books of the corporation and
not to the corporation. 1t shall be the
duty of the president or chief officer of
every such corporation to make out and
return under oath, to the assessor of the
county in which the chief or home office
of the corporation is located, list show
ing the total number of shares of the
ca pital stock of such corporation, and the
par value thereof and the full name and
residence of such shareholder as far as
known, the actual market value of such
shares and the par value thereof, the
date of the last sale of stock in such COR
poration, with, the names of the seller
and the purchaser and the price paid for
the same, the annual dividend declared
on the stock of such corporation for the
last three years, the value of the shares
as shown by the books of the corporation
and by the last report of the officers to
the shareholders the amount of the sur
plus. and the amount of undivided profits
not included in the list and such presi-
dent or chief officer shall, at the same
time, return to the assessor sworn
statement of all the taxable property,
real and personal, owned by such corpor-
alton, situated in the state, and the value
thereof as assessed for taxation the
same year; and thereupon 1t shall be the
duty of the assessor, after passing upon
such assessments to deduct from the
aggregate amount or sum at which the
whole of the shares are assessed the ag-
gregate amount or sum at which the real
| and personal property of the corporation
| is assessed for taxation; and the residue
of values remaining after such deduc-
| ton shall be the assessed value of the
whole of such shares, and such residue,
| divided by the whelea number of shares.
shall constitute the value of each share
| for taxation, and the corporation shall
pay for the shareholder, the tax assess
| ed against his shares, and the amount sal
| paid for any shareholder shall be a lien
| on any interest which shareholder may
have in any property owned by the cor
| rnratinu n fc fha frfpnt "a nd rnaa piy,nr