The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-11

person. association or corporation carry
return of the amount OF stock as pro-
vided by law. or II the assessor Is not
satisfied with the return made, the as
SCISSOR in order to make proper assess
ment may examine the insurance af-
fected by such person, association or
corporation upon the stock SO 10 be as
sessed. and shall have the right 10 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 S91i of the
Code be amended so as TO read as fol-
lows:
s. 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
Photographs and all machines of like
character, all iron safes, all store fix
lures, all office furniture and fixtures, all
mechanical tools and farming imple-
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 eompa MES. building and loan
associations and banks or banking as
socjations) to be assessed and collected
in the county wherein such corporation
has its 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. 1t
shall be the duty of the president or chief
officer of every such corporation to make
out and return. under oath, to the as
SCISSOR of the county in which the chief
or home office of the corporation is To-
Gated, 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
as far as known; the actual
market value of such shares and the par
value thereof. the date Of the last sale
name of the seller and the purchaser,
and the price paid for the same, the an
nual dividend declared in the stock of
such corporation 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
hcer shall at the same time return to the
assessor sworn statement of all the
taxable property real and personal,
owned by such corporation, situated In
the State, and the value thereof as as
sessed for taxation the same year; and
thereupon 1t shall be the duty of the as
SCISSOR, 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-
naming 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 lien on any in
terest which shareholders may have in
any property owned by the corporation.
1t is the intent and meaning of this SUBJ
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
against the corporation as other property
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
tion, 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 lax
shah be demanded or collected on the
shares. 1t 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-
Quoting a fire insurance business for as
sessment there shall be deducted from
the value of such shares, In addition to
the assessed values Of it's property, the
4. A =.
bama, and of the United States held by
such fire insurance corporation at the
time of such assessment which 1t has held
during all of the six months preceding
such assessment.
1919. 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 its 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, a 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
10Th day of January of each year. And
that in addition to said amount paid to
the State as aforesaid, LOT 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 munich
pal limits of said cities. a privilege or IL
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:
In municipalities having population of
five hundred people, or less than this
number, $3.50 per annum.
In municipalities having n population
of Ave hundred or over and not exceed