Evening journal., 1899-03-20


fifty per centlim OF whose capital stock
issued and outstanding is invested In min
/ Ing or manufacturing carried on within
this State; II any manufacturing or min
ling company. carrying on business in this
State shall have less than finty per centum
| OF IT'S capital stock issued and outstand-
ling, invested In business carried on with
IN this state such company shall pay the
lannual license fee or franchise tax her- ~
provided for companies not carrying oa
business In this State. but shall be en-
tilted In the computation OF such tax, TO
a deduction from the amount OF It's capi-
tai stock issued and outstanding OF the
assessed value OF It's real and personal
estate 80 used In manufacturing or min
Ing.
| SECTION s. That the Secretary OF
State shall certify and report TO the
/ State Treasurer, on or before the first
Tuesday OF February In each year a
statement OF the basis OF the annual H.
cense Zee or franchise tax RS returned by
| each corporation or company to or be as
certained by the said Secretary OF state,
and the amount OF tax due thereon re-
spectlVely. az the rate fixed by this Act;
such tax shall thereafter become due and
payable and it shall be the duty OF the
/ State Treasurer TO receive the sames II
| the tax OF any corporation or company
remains unpaid on the first day OF March
after the same becomes due the same
shall thenceforth bear interest at the rate
| Of one pcrcentum for each month until
|
power to require OF any corporation or
| company subject 10 tax under this Act
| such information or reports touching the
affairs OF such corporation or company az
may be necessary TO carry out the pro-
visions OF this Act and may require the
production OF the books of any such cor
poration or company and may swear or
affirm and examine witnesses In rea-
| ton thereto.
SECTION G. That such tax when de-
termined shall be a debt due from such
corporation or company to the State. for
which an action at law may be maintain.
Cd after the same shall have been In ar
! rcars for the period Of one month, such
tax shall also be preferred debt In case
OF insolvency.
SECTION T. That In addition to other
remedies FOR the collection OF such tax
Il shall be lawful for the Attorncy-G
| ernl. either Of his own motion or upon re-
quest OF the State Treasurer whenever
any tax due under this Act from any cor
| poration or company shall have remained
In arrears for a period Of three months
after the same shall have become pay
able. to apply to tho Court OF chancery,
| by petition In the name OF the State, on
i've days notice TO such corporation or
| company. which notice may be served In
such manner as the Chancellor may di-
| rect for an injunction TO restrain such
corporation or company from the eXer-
else OF any franchise, or the transaction
| the payment OF such tax and interest due
| thereon and the cost OF such application
shall be fixed by the Chancellor; the said
Court Is hereby authorized TO grant such
injunction, n n proper case appears and
upon the granting and service OF such In
junction. Il shall not be lawful for any
such corporation or company thereafter
to exercise any franchise or transact any
business In this state until such injunc-
tion shall be dissolved.
sEcT1oN s. That this Act shall not
apply TO or In any manner affect the tax
upon the premiums obtained In this State
by foreign fire insurance companies and
their agents, which tax shall be In lieu
Of the tax herein provided and shall be
collected and distributed as Is specially
provided by law IN relation thereto.
SECTION 9. When. by the laws Of any
other State OF nation, any other or great
, er taxes, fines, penalties, hccnses, fees
or other obligations or requirements are
/ imposed upon corporations OF this state
doing business In such other State OF na'
tion, or upon their agents therein, than
/ the laws OF this State Impose upon thch
corporations or agents doing business In
this State, 80 long as such laws continue
In force In such foreign state or nation
tho same taxes, fines, penalties, licenses
, fees obligations and requirements o.
y whatever kind shall be imposed upon al
: corporations Of such other state or natioI
doing business within this State anC
! upon their agents here; provided, tina
= nothing herein shall be held 70 repeal an,
: duty, condition or requirement now I'M
posed by law upon such corporations q
Z other states or nations transactlng busi
= ness I'm the State.
SECTION 10. II any corporation here
after created shall for two consecutive
years neglect or refuse TO pay the stat
any tax which has been or shall be as
. aessed against Il. or which Il Is require,
= TO pay, under any law Of this state an'
r made payable Into the state treasury
/, the charter Of such corporation shall b'
void. and all powers conferred by Law
7, upon such corporation are hereby de
y clared imperative and void. unless tn
= Governor shall, for good cause shown q
!, him. give further time for the paymen
= Of such taxes I'm which case certlilcat
y thereof shall be filed by the Governor II
!, the office OF the State Treasurer, statinl
q the reasons therefor.
SECTION Il. On or before the frs
= | Tuesday OF January In each year IN
y State Treasurer shall report TO the Gov
y ernor a list OF all the corporations o
y companies which for two years next pre-
y ceding such report have failed. neglecte
y or refused TO pay the taxes assesse
~ against them or due by them. under IN
y forthwith issue his proclamation, declaf
n ing under this Act OF the Legislature ina
5. the charters OF these corporations ar
y repealed.
" SECTION 12. The proclamation OF tn
ie Governor shall be filed In the office z
Sc the Secretary OF State. and published
le such newspapers and for such length &
,s time as the Governor shall designate.
ID SECTION 70. Any person or person
Be who shall exercise or attempt to exercis
D. any powers under the charter OF an
er such corporate after the Issuing Of sue
rs proclamation shall be deemed guilty or
xt mlsdonean0r, and shall be punished b
is Imprisonment not exceeding one year. {
er or both. In the discretion OF the Court
m SECTION a. After any corporatio
MS OF this State hereafter Incorporated hs
he failed and neglected for the space OF "
er consecutive years TO pay the taxes In
IS posed on Il by law, and the State Trea
nd urer OF this State shall have reports
is such corporation to the Governor OF th
OF State. as provided I'm this Act, then
of shall be lawful for the Attorney-Gener
n OF this State to proceed against said 60
r. poration In the Court OF Chancery in th
mt State for the appointment Of a receive
at or otherwise, and the said Court IN sue
r. proceeding shall ascertain the amount
sr, 1.-THE taxes remaining due and unpaid
sc such corporation to the state OF Del
ne ware and shall enter "A final decree Z
ss the amount 80 ascertained, ana ther
Is- upOn "a feri flcias or other process sn;
"a issue for the collection OF the same
in other debts are collected. and II no pro
er erty which may be seized and sold
aI.Na.