The Birmingham age-herald., 1903-02-02

any one day. The subject of the sketch
 is evidently well known to them or else
 
 tangible property assessed; shall be the
 correct value of the corporate franchise
 of such corporation, company or asso-
 citation for taxation in this state.
 Sec D. Franchise of Carrier; When
 Taxed in Each District Through Which
 Line Passes-If the corporation organized
 under the laws of this state or of some other state or government be 8 railroad, | telegraph. telephone, express or sleeping, | dining, palace or chair car company, the 1 lines of which extend beyond the limits | of this state, the said board shall fix | the value of the capital stock as here l inbefore provided, and that proportion or 1 the value of the capital stock, which the length of the lines operated, owned, l leased or controlled in lnis state bears to the total length of the lines owned, l leased or controlled in this state ana elsewhere. shall be considered in fixing the value of the corporate franchise or 1 such corporation liable for taxation In l this state; and such corporate trahchise | shall be liable to taxation Tn each couh- ty incorporated city, town or distrlct | through or into which such lines pass l or are operated in the same proporIloh l that the length of line in such county | city town or district bears to the Whole l length of line in the state, less the Valus 1 of any tangible property assessed, or lia- 1 ble to assessment, in any such county | city, town or taxing district
 l Sec 6. Notice to Corporations of value | of Franchises: Board May Charge-lt | shall be the duty of the auditor, imme- | diately after fixing such values by said
 board, to notify the corporation or the
 fact: and all such corporations small
 have thirty days from the tune or re | ceiving the notice to go before sucn | hoard and ask a change of the valuation, | and may introduce evidence, and the. | chairman of the board Is hereby author l ized to summon and swea witnesses l and after hearing such evidence the board may change the valuation as It may deem proper, ana the actioh VI tiie l board shall be final.
 1 Sec T Value of Franchise To Be Re l ported to Counties Entitled to IaN-ihe l auditor shall, at the expiration or thirty days after the final determination or such values, certify to the county clerk or the 1 counties where any portion of the cor porate franchise of any such corporation l company or association shall De naple | to local taxation as herein provided the l amount thereof liable for county, city, town or district tax; and such certiheate shall be by each county clerk nled In his office, and be by him certified to ,ne proper collecting officer of the county, city, town or taxing district for collec- ton.
 Sec. 8. Corporations to Pay Taxes as | Indiyiduals-All corporations and other persons who are required to make reports
 to the state auditor shall pay all the | taxes due the state from them into the | treasury at the same time, and shall De liable for and pay the same rate Of inter est and penalties as defaulting individ- l nf provided.
 Sec g. Penalty for Failure of Corpor- ation to Make Report.-Any corporation, | or officer thereof, wilfully failing or re- fusing to make reports as required by
 this act shall be deemed guilty of mis- demeanor, and for each ofTense shall be | assessed in addition to the taxes the sum of one thousand dollars. and fifty dollars for each day the same is not made after February 1 of each year.
 Sec. 10. Stockholders Exempt From Tax on Stock When Corporation Pays | Neither the individual stockholders of the | corporations which are, by this article, required to report any pay taxes upon l the corporate franchises, nor ethe said l corporations, shall be required to list l or assess the shares in sucn company so | long as the corporation pays the taxes on the corporate property and franchise | as herein provided l Sec. Il. Receiver of Corporation to Re-
 port-Should any corporation required to make the report as here in before pro- | vded be in the hands or under theacon-
 trol of a receiver or other person, 1t shall
 be the duty of such receiver or other per- son to make the returns and valuations
 as hereinbefore required | Sec. 12 Corporations Failing to Report,
 Board Shall Fix Value-Should any cor
 poration fail to make the reports as ! herein required, on or before the first | day of February, in each year, the said
 board shall proceed to ascertain the facts
 and values as required by this article, in | such manner to make means as 1t deems
 proper, at the cost of the company fail- | Ing to make the report and shall fix the
 values of the corporate franchise liable
 for taxation as aforesaid and the corpor-
 aton shall be taxed accordingly, with
 the penalties hereinbefore provided.
 Section 13 Taxes, When Due. Penalty
 All taxes assessed against any corpora
 ton shall be due and payable as other
 taxes are, and every such corporation.
 company or association failing to pay its
 taxes when due, shall be deemed delin- | quent, and a penalty of ten per cent on
 the amount of the tax shall attach and | thereafter such tax shall bear interest | at the rate of ten per cent per annum and
 any such corporation failing to pay it's | taxes. penalty and interest. after becom-
 ing delinquent, shall be deemed guilty of
 a misdemeanor and on conviction shall be
 fined fifty dollars for each day the same
 remains unpaid, to be recovered by indict-
 ment or civil action of which the Mont gomery Circuit court and the City Court of Montgomery shall have Jurisdiction. 1 Sec. IA. Corporations Paying Fran | chise Tax Prompt From License Taxation | All corporations paying taxes upon their | frapchisps shall he exempt from the nav- ment of all license taxes in this state. to the state, the counties and municipal | corporations thereof