The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1905-08-04

the hands OF executors or aamInIsustor.
shall be taxed 10 them In the town where
the deceased person resided.
Sixth. All merchandise. stock In trade
lumber and coal stock In livery stables
machinery and machine tools. and all
other tangible personal property being or
situated In any town. and belonging 20
any persen, partnership. limited partner
sh'p. Joint stock company. or association
or corporation rot residing or not located
IL this state. or belonging te persons un-
known 20 the assessor. shall be taxed in
such town TO the person. partnership.
joint stock company, or association or
corporation owning the same, II known
otherwise shall be taxed 10 the owner.
a person unknown 20 the assessors The
collector may distrain and sell the prop
erty IN the same manner as provided in
Chapter 4S OF the General Laws. Per-
sons residing IN this state and owning
property OF the description mentioned In
this clause. located in and taxed IN any
other state. shah not be taxed therefor
IN this state
Seventh. The shares in national bank
Ing associations held by persons residing
without the state shall be taxed I'm the
town in which such banking association
is situated. Residents OF this state shall
not be taxed In this state for shares held
by them in national banking associations
situated without this state. the shares Of
which are taxed in the states where such
national banking associations are situ-
ated.
Eighth. No shareholder shall be taxed
for shares held I'm any corporation within
or without this state. or banking asso-
citation within or without this state. which
In its corporate capacity, is taxed FOR an
amount equal 10 the value OF its real es-
tate and tangible personal property. and
equal 10 the market value OF It's shares;
but IN case such corporation or associa-
tion is taxed for less than said amount.
such shareholder shall be taxed only for
the difference between the market value
OF each share by him held and the pro-
portionate amount per share at which
the corporation or association was last
assessed az aforesaid.
Ninth. The personal property. liable TO
taxation, OF any religious or benevolent
society shall be taxed IN the town where
the corporation holds its meetings
Tenth. No persons, copartnerships. or
bodies corporate resident OF this state
shall be liable 10 taxation on personal
property except upon the surplus OF the
ratable personal estate owned by such
persons, copartncrships. or bodies cor
poratc over and above their actual in
debtedness.
Eleventh. Deductions on account OF
the actual Indebtedness OF such persons,
copartnerships. and bodies corporate shall
be allowed in each town whore such per-
sons copartnerships and bodies corpor-
ate arc taxable IN the proportion I'm each
town that tho amount of the personal
property of such persons, copartnerships
and bodies corporate taxable in such
town bears 10 the total amount OF the
personal property OF such persons, CO.
partnerships, and bodies corporate tax
able in all the towns of the state"
Sec. g. Section 10 Of Chapter 40 OF the
General Laws Is hereby amended SO as
to read as follows:
Sec. 10 Personal property. for the pur.
poses Of taxation, shall be deemed 10 in.
clude all goods, chattels, debts due frou
solvent persons, money and effects wher
ever they may be. all ships or vessels. al
home or abroad. all stocks and securities
shares in any bank or banking associa
ton, I'm any turnpike bridge, or other cor
porauon, within or without this state ex'
ccpt such as are exempt from taxation by
the laws Of the United States or of this
state"
Sec. 6. Sections II 10 i5 inclusive. OF
Chapter a. of the General Laws are here
by repealed.
Sec. z. Section 70 Of Chapter &c OF the
General Laws Is hereby amended so as
TO read as follows.
"Sec. II. Every corporation which is by
law required TO make returns 10 the as
SCISSORS OF any town shall return the pan
value and the cash market value Of the
shares OF said corporation. and the pro.
poruonate amount per share at which its
real estate, machinery, and tangible prop.
erty, II any, were last assessed"
Sec. S. This act shall take effect from
md after its passage