The daily morning journal and courier., 1901-05-06

1 portion that the tax rate fixed by each | of such districts within the twelve | months rext preceding said first day of | May, bears to the combined or total | tax rate of all said taxing districts; to | the end that such town and the taxing districts therein may, together, receive | the same amount of tax that they would have received had said shares been listed in the name of the stock holders resident or located therein and
 assessed and taxed at the valuation fix ed by the board of equalization and at an aggregate rate equal to the rate pre- scribed in this act The tax derived from the shares of any national bank ing association located in this state which were on the first day of the pre- ceding October owned by non-residents
 of this state shtll be paid over to the treasurer of the town within which
 such banking association is located
 Section 5--Every secretary, treasurer
 or cashier of any savings bank as was,
 on the first day of April, 1901, invested
 in the shares of the capital stock of any
 of the aforesaid corporations shall, so
 long as it remains invested in the
 same shares, be exempt from payment
 of the tax required by section 3,91S of
 the general statutes.
 Section 7--If the annual dividend
 hereafter paid by any of the corpora
 tions mentioned in section of this act
 shall not equal the average annual div
 idend paid by it for the five pears next
 proceeding January l, 1901, any charit-
 able, ecclesiastical, educational, or be-
 nevolent association, corporation, or so-
 ciety, located in this state, whose property is exempt form taxation shall
 upon proof of these facts and upon compliance with the provisions of this section, be entitled to demand and re- fceive, from the treasurer of this state and said treasurer shall pay to each of such associations, corporations, or so- cieties, such sum not exceeding 1 per centum upon the market value of the shares of stock held by it in any of the aforesaid corporations, as may be re- qu.red to make the dividend for the pre- ceding calendar year equal to the aver age annual dividend paid by such cor porations by the five years next pre- ceding the first day of January, 1901; but no such payment shall be made un- iCsS NiAtsSh eAPPiiSdtAOiA NhcACLC io made during the month of March, and then only upon proof satisfactory to the state treasurer that the applicant was the owner of the shares upon which such payment is demanded, on the first day of April, 1901, and has ever<since continued to own them. The payments herein provided for shall cease on the thirty-first day of March, 1906, and un til then shall be made only from the taxes paid to the treasurer by the re- spective corporations taxable under this | act:
 Section S--Stockholders in the afore- | said corporations shall be exempt from | taxation upon their shares of stock.
 Section 9-The state treasurer shall | sue for and collect any tax due under the provisions of this act which re- mains unpaid.
 Section 10--Sections 3,S36, 3,S37, 3.915, ], ,916 and 3.917 of the general statutes, chapter lxii and section of chapter ccxlviii of the public acts of 1889. chap ter elk and clxxxix of the public acts If 1893, chapters clii and ccv of the pub lie acts of 1s97 chapter clxxviii of the public acts of 1899. and all other acts and parts of acts inconsistent herewith are hereby repealed