The Montgomery advertiser., 1907-03-11
.na aaa thereto

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 of stock. and add thereto the market or true value of it's entire indebtedness secured by any mortgage, lien or other charge upon It's property assets, and the sum so produced shall be deemed and treated as the true cash value of said entire property, tangible and intangible. From the value Of said entire property. tangible and intangi-
 ble thus ascertained, there shall be de-
 ducted the assessed value of the entire
 tangible real and personal property or such person, association, company or
 corporation, and the remainder of true
 value be by said State Tax Commission
 fixed and determined as the true value
 for taxation of the franchises, or in-
 tangible properties owned and held by
 said persons, associations. company or
 corporation and made subject 10 tax
 ation by the provisions of this Act,
 where the business and property of
 such person association, company or
 corporation is within this State. Where
 the person, association, company or
 corporation operates a railroad, or car
 line of any kind or teiegTaph line,
 or pipe line, the lines of which extend
 beyond this State. there shall also pc
 deducted from the true cash value Of
 the entire property. tangible and in-
 tangible ascertained as above provid-
 ed, the market or true value, ascer-
 tained from the information furnished
 by said statements if the value thereof
 be given in said statements, of all
 real and personal property of said per-
 son, association, company or corpora tion not specifically used In It's busi-
 ness, and the remainder shall be treat ed as the true cash value of all It's
 property tangible and intangible. ac- tuaily used in this business. The State
 Tax Commission shall then ascertain
 and fix the value of the total property,
 tangible and intangible, in this State
 by taking such proportion or the
 cash value of the entire property, tan
 gible and intangible of such person, association, company or corporation
 which is specifically used in It's busi-
 ness ascertained as above provided, as
 It's total lines within this State bears
 to the total lines both inside and out side of this State, or as its total re- ceipt from within this State bears to its total receipts from both within and without this State. From the entire value of the property within this State tangible and intangible, when ascer- tained as above provided, there shall be deducted the total assessed value for taxation of the entire real ana personal property of said person, as- sociation, company or corporation fin l this State, and the residue and remain l der of value shall be by said State Tax | Commission, fixed and determined as | the true value for taxation of the | franchise,or intangible property of such | person, association, company or corpor- | ation so operating said railroad car l line, telegraph line. telephone line or pipe line, made subject to taxation by | the provisions of this Act. The said | State Tax Commission shall apportion
 the value of such franchises or intan- 1 gible property thus aseertained as | above provided, among and between | the counties and cities or towns in
 which such person, association, com | pany or corporation does business, fin proportion to the amount of business | done in and receipts derived from each
 locality, except that in case of rail-
 road or railway company. telephone
 and telegraph company and electrical | power companies, car company other | than express companies, or Of @ pipe 1 line, the apportionment to each coun- | ty and to each city or town shall be | in proportion to the line mileage or l car mileage therein. Provided, however,
 that the said State Tax Commission shall have the right, and it is hereby
 declared to be It's duty, to make use
 of all evidence put before 1t, and of | all material facts at its command in
 valueing the aforesaid properties, and | if 1t shall believe some other method of
 calculation than that herein specifical- | ly prescribed is necessary in order to | produce just and lawful results, It
 shall follow the method, which. under | all the circumstances. it believes best
 calculated to bring about a fair and l equitable valuation of such property. i Sec. Ia. Within twenty days after | making the valuation of any such fran
 chises, or intangible property the State Tax Commission shall give notice
 in writing by registered mail addressed | to or by personal service or any orri- | cer superintendent, cashier, or man. l ager of the owner of said franchises or intangible properties, stating the valuation fixed by 1t and that on Q day specified. not less than twenty nor
 more than thirty days thereafter, 1t
 will meet to hear and determine any complaint against said valuation, which | notice must be served at least ten
 days before the day fixed for the hear ing. At the hearing the owner may | file a statement under oath, specifying 1 the respect in which the valuation Is incorrect,upon which testimony may be
 taken and a full investigation had. From the final decision of said Com mission on said hearing the owner may appeal to the Circuit Court, or court | of like Jurisdiction, of Montgomery
 county, within thirty days. upon giv- | ing bond with two sureties, to be ap- proved by the State Tax Commission 1 and payable to the State of Alabama in double the amount of State and county
 taxes lawfully due or to become due on such assessment or valuation as
 finally determined on said hearing, conditioned to prosecute said appeal to effect and to pay all lawful taxes
 which may be held by the court to be or become due on said franchises or
 intangible property, according to such valuation as may be determined by the
 court. The trial upon said appeal shall he dc novo, and the court shall render
 judgment against appellant for such taxes as may be or become lawfully due on said property From the judg-
 ment of said court either party may
 appeal to the Supreme Court within
 thirty days from the rendition of said
 judgment.
 Sec. 8. whenever any person or as-
 sociation of persons not being cor
 poratIon and having no capital stock
 shall engage in this State in any char
 acter of business embraced within the
 provisions of this Act, the capital ana
 property, or the certificates or other
 evidences of the rights or interests Of
 the persons, engaged in such business
 shall be deemed and treated as the
 capital stock of such person or asso-
 citation of persons for the purpose of
 taxation and for all purposes under
 this Act and shall be estimated and
 valued, and the intangible proerty
 values thereof when ascertained shall
 be apportioned and distributed and
 assessed and taxed under the provi-
 sions hereof, in like manner as if such