The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-03-26

Section 36OS provides for the assess
ment and taxation of all property be-
| longing to corporations except the prop
erty of national cemetery associations
not assessable by Federal statute.
The new sections are as follows:
section 1908 The stockholders in
! every national banking association do
ing business in this State, and having
it's principal place of business located
in this State, shall be assessed and
taxed on the value of their shares of
stock therein; and said shares shall
| be valued and assessed as Isl other prop
erty for taxation and shall be included
in the valuation of the personal prop
erty of such stockholders in the assess
| ment of the taxes at the place, city,
town and county where such national
banking association is located, and not
elsewhere, whether the said stockhold-
ers reside in said place, city, town or
county or not; but in the assessment
of such shares each stakeholder small
be allowed all the deductions permitted
by law to the holders of moneyed cap
ital in the form of solvent credits, IN
the same manner as such deductions are
| allowed DY InG pTONlSfOIl VI pal DIS q Pm
/ 6 of Section 1929 of the Political Code
of the State of California. In making
such assessment to each stakeholder
there shall be deducted from the value
of his shares of stock such sum as is in
the same proportion to such value as
the total value of it's real estate and
property exempt by law from taxation
lbears to the whole value of all the
shares of capital stock in said national
bank And nothing herein shall be con-
strued to exempt the real estate of sucn
national bank from taxation. And the
assessment and taxation of such shares
of stock in said national banking asso-
Citations shall not be at a greater rate
than is made or assessed upon other
moneyed capital in the hands of indi-
vidual citizens of this State.
"Section 1910 The Assessor charged
by law with the assessment of said
shares shall, within ten days after he
has made such assessment, give writ
ten notice to each national banking as
ISOLATION of such assessment of the
shares of it's respective shareholders;
and no personal or other notice to such
shareholders of such assessment shall
be necessary for the purpose of this
Act. And in case the tax on any stock
is unsecured by real estate owned by
the holder of such stock. then the bank
in which said stock is held shall become
liable therefor; and the Assessor snail
! collect the same from said bank, which
! may then charge the amount of the
tax so collected to the account of the
stakeholder owning such stock, and
shall have q lien, prior to all other
liens, on his said stock, and the divi-
dends and earnings thereof, for the re-
| endorsement to it of such taxes so
paid"
CHAPTER 81.
CHAPTER 81 became a law without the
Governors signature, on March 14th.
| 1t is for the protection of libraries, add
ing Section 6231hz to the Penal Code.
| 1t provides that whoever willfully de-
| tains any book, newspaper or other
property belonging to any public OF in
| corporated library. or other educational
institution, for thirty days after notice
in writing to return the same is guilty
of misdemeanor and shall be pun
ished accordingly.
CHAPTER 80
Chapter 80. which became law with
out the signature Of the Governor, on
March 14th, changes and permanently
locates the boundary line between Las
sen and Shasta counties. 1t sets forth
| in metes and bounds all details Of the
| boundaries.
CHAPTER SO.
| CHAPTER SO became a law on March
14th. without the Governors signature
It makes provisions for the organization
and government of certain municipali-
| ties. amending the Act of March 13,
1883. The amended section (l9s) now
! gives Boards Of Education the following
powers:
''F'irst-To establish and maintain
public, primary, grammar, high and
evening schools and to subdivide the
school districts, and to fix and alter
| the boundaries of such subdivisions.
.tSecond-To employ and dismiss a
| Superintendent of Schools, teachers,
! janitors, truant officers and school CEN
sus marshals, and to fix, alter, allow
and order paid their salaries or COM
pensation: and to employ and pay such
mechanics and laborers as may be nee
| essary.
/ "Third-To make all necessary rules
and regulations for the government and
management of public schools within
such city, the teachers thereof, and the
pupils therein, and for carrying into
!
'Fourth-To provide fuel and lights,
water, printing and stationery, and to
incur such other incidental expenses as
may be deemed necessary by said board.
"Fifth-To build and provide school
houses, and to furnish the same with
proper school furniture, apparatus and
! appliances, and to insure any and all
| school property"
The other provisions give boards the
right to buy or lease all necessary prop
erty for schoolhouses; to grade and
improve lots to determine each year
the amount of money necessary to sup
port schools, ETC.; to disburse the
school fund, under proper regulations;
to discharge legal membranes; to adj
nit nonresident and average pupils
for a proper fee; to regulate the grad
ing of schools, and to do all other acts
| necessary to carry the laws into effect.
CHAPTER a.
Chapter S4 became a law, without
the Governors signature, on March
| 14th. 1t amends Section S44 of the