The Montgomery advertiser., 1903-03-11

person, association or corporation carry return o/ the amount of stock as pro- ,,ided by law, or if the assessor Is not satisfied with tAe return made, the as- sessor in order to make proper assess ment may examine the insurance af- fected by such person, association or corporation upon the stock so to be as- sessed. and shall have the right to de- mand a copy of the last inventory made of such stock of goods. and may also by inquiry of persons believed to have knowl- edge of the subject inform himself of the probable average amount of such stock and from such information he may as- sess the same upon the best judgment he can form.
 That subdivision of Section 39l1 of the Code be amended SO as to read as fol- lows:
 5. All household furniture. libraries, jewelry, plate and silverware, or naments and articles of taste, pianos and other musical instruments, paintings, clocks, gold, silver and other watches, and gold and other safety chains; all wagons and other vehicles; all bicycles all typewriters, all cash registers, all phonographs and all machines of like character, all iron safes. all store fix lures, all office furniture and fixtures. all
  ments, all dirks and bowie knives swords, canes pistols. and guns. all cat tie. horses, mules, studs. jacks and jen- nets, all hogs, sheep and goats.
 g. Every share of any corporation organized under the laws of this State. or any other State, or of the United States (other than railroad telegraph long distance telephone. express and sleeping car companies. building and loan associations and banks or banking as- socia tions) to be assessed and collected in the county wherein such corporation has it's 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 corpo- ration. and not to the corporation. It shall be the duty of the president or chief officer of every such corporation to make out and return, under oath, to the as- sessor of the county in which the chief or home office of the corporation is To- cated, a list showing the total number of shares of the capital stock of such corporation, and the par value thereof. and the full name and residence of each 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 corporation, with the name of the seller and the purchaser, and the price paid for the same, the ar1- nuai dividend declared in the stock of such corpora ton 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 surplus; and the amount of undivided profits not included in the surplus, and such president or chief of- ffcer shall at the same time return to the assessor a sworn statement of all the taxable property, real and personal. owned by such compensation. situated in the State, and the value thereof as as- sessed for taxation the same year; and thereupon it shall be the duty of the as- sessor, after passing upon such assess ments, to deduct from the aggregate amount or sum at which the whole of the shares are assessed the aggregate amount or sum at which the real and personal property of the corporation is assessed for taxation owned by such cor poration, and the residue of values re- maining 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 constitute the value of each share for taxation, and the corporation shall pay for the share holders the tax assessed against his shares. and the amount so paid for any shareholder shall be a Hen on any in- terest which shareholders may have in I any property owned by the corporation. It is the intent and meaning of this sub division 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 I A. 1Ak l~N.v in this State is assessed to the owner thereof, and that the corporation shall pay the tax thereon, whether such as- sessment exceeds the aggregate 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 therefrom the assessed value of the real and personal property of the corporation, owned by such corpora ton, 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, aS assessed for taxation. then no tax shall be demanded or collected on the shares. It shall be no ground of objection to such assessment of shares that the same Is entered on the assessment book in the name of the corporation. Provided, in arriving at the value of the shares or stock of a corporation organized under the laws of Alabama for the purpose of con- ducting a fire insurance business for as- sessment there shall be deducted from the value of such shares, in addition to the assessed values of its property, the amount of all bonds of the State of Ala bama, and of the United States held by such fire insurance corporation at the time of such assessment which it has held during all of the six months preceding such assessment.
 (391D. Express Companies to Pay Privi- lege Tax to State Treasurer.-There shall be levied and collected from every ex- press company doing an express business between points wholly within this State. and without reference to it's interstate business, in this State. whether incor- porated under the laws of this State or any other State or whether Incorporated at all, or not, license or privilege tax of four thousand dollars. which shall be annually paid to the treasurer of said State by said company on or before the 18th day of January of each year. And that in addition to said amount paid to the State as aforesaid, for State purposes, there may be levied and collected by the several cities of the State from said ex- press company or companies for the privi- lege of doing business within the munici- pal limits of said cities, privilege or li- cense tax to be computed and based on the population of said cities. as fixed by the Federal census of 1900, as follows, to- wit:
 Tn municipalities having a population of hn ia