The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-26

OF values remaining 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 consti-
tute the value of each share for taxation,
and the corporation shall pay for the
shareholders the tax assessed against his
shares, and the amount so paid for any
shareholder shall be lien on any interest
which shareholders may have In any
property owned by the corporation. It is
the intent and meaning of this subdivision
that all the property. real and personal of
the corporation. except such property as Is
exempt from taxation by the laws of the
state or of the United States, shall be
assessed for taxation against the corpora
tion as other property in this state Is
assessed to the owner Thereof, and that the
corporation shall pay the tax thereon,
whether such assessment exceeds the ag
gregate assessed value of the shares or
not; that the shares shall be assessed for
taxation against the shareholders at their
actual market value after deducting there
from the assessed value of the real and
personal property of the corporation. and
the value of all bonds that are exempt
from taxation under the laws of Alabama
owned by such corporation and that the
corporation shall pay for the shareholders
respectively, the tax so assessed against
their shares. If the aggregate value of
the shares does not exceed the aggregate
value of the real and personal property of
the corporation, and the value of said nom
taxable bonds owned by the corporation 10
assessed for taxation, then no tax shall be
demanded or collected on the shares. 1t
shall be no ground of objection to such
assessment of shares that the same is en-
tered on the assessment book In the name
of the corporation; provided, this act shall
not permit the deduction of Investments in
non-taxable securities made less than six
months prior to the beginning of the tax
year.
Approved February q, 1899.
(OficiaD ROBT. P. MDAvID,
Secretary of State.
No. 664 AN ACT III. 614
To require all corporations, companies or
individuals operating or owning places for
storing and Weighing cotton in the state of
Alabama when charge is made for such
storage or turning out to provide a we'll
bound book in which shall be kept, al
all reasonable times be open to the in
spectfon Of the public, a record of all
baled cotton weighed by them, by whom
offered for weighing and for whom
= weighed, and to provide penalty for yio-
lation thereof.
Section l. Be 1t enacted by the general
assembly of Alabama, That from and
after the passage of this act 1t shall be the
duty of all corporations, companies or in
olviduals operating or owning a place for
storing and weighing baled cotton within
the state of Alabama, when a charge is
made for such storing or turning out, to
provide well bound book In which shall
be kept, alphabetically arranged, and which
DOCK Shall at all reasonable times be open
to the inspectian of the public, record of
all baled cotton weighed by such ware
housemen, corporations, companies or indi-
viduals, or their agents, by whom such
cotton is offered for weighing, and for
whom such cotton is weighed.
Sec. z. Be it further enacted, That any
corporations, companies, individuals or
their agents operating or owning places for
storing and weighing cotton, doing business
IN violation of the provisions of this act,
snail be guilty of misdemeanor and upon
conviction thereof shall be fined not less
than twenty-five dollars nor more than five
hundred dollars for each violation thereof
Approved February q, $780,
(omciaD ROBT. P. MDAVID.
Secretary of State.