The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-03-11

mission and shall have all the powers
with respect thereto conferred upon it
by the Act creating said Commission.
Sec. Z. In SO far as the other evidence
and information addueed before said
Commission does not make 1t appear to
said Commission improper or unjust for
them so to do, the said Commission
shall, In fixing the true tax value of the
entire property, tangible and intangible
of any company. corporation, association
or individual embraced within the provi-
sion of this Act, take as a basis therefor
the aggregate market or true value of all
Its shares of stock, and add
thereto the market or true value of its
entire indebtedness secured by any mort
gage lien or other charge upon its prop
erty assets, and the sum so produced
shall be deemed and treated as the true
cash value of said entire property, tangi-
BILE and intangible. From the value of
said entire property. tangible and in
tangible, thus ascertained, there shall be
deducted the assessed value of the entire
tangible real and personal property of
such person, association, company or cor
poration, 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 intangible
properties owned and held by said per-
sons, associations, company or corpora
ton and made subject to taxation by tho
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 n rail-
road or car line of any kind. or tele-
graph line, or pipe line, the lines of
which extend beyond this State, there
shall also be deducted from the true cash
value of the entire property, tangible
and intangible, ascertained as above pro-
vided, the market or true value, ascer-
tanned from the information furnished by
said statements if the value thereof be
given in said statements, of all real and
personal property of said person, associa-
ton, company or corporation, not speci-
fically used In its business, and the re-
majnder shall be treated as the true
cash value of all its property, tangible
and intangible, actually used in this busi-
ness. The State Tax Commission shall
then ascertain and fix the value of the
total property. tangible and intangible
in this State, by taking such proper
ton of the cash value of the entire prop
erty. tangible and intangible, of such
person, association, company or corpor-
alton, which IL specifically used In Its
business ascertaned as above provided,
as its total lines within this State to be
total lines both inside and outside
of this State, or as Its total receipts
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 aseertained as above
provided, there shall be deducted the to-
tai assessed value for taxation of the
entire real and personal property of said
A.
ton In this State, and the residue and
remainder of value shall be by said State
Tax Commission, fixed and determined as
the true value for taxation of the fran
chise, or intangible property of such per-
son, association, company or corporation
so operating said railroad, car line, tele-
graph line, telephone line or pipe line,
made subject to taxation by the proVl-
sions of this Act. The said State Tax
Commission shall apportion the value Of
such franchises or intangible property
thus ascertained as above provided,
among and between the counties and
cities or towns in which such person,
association, company or corporation does
business, in proportion to the amount of
business done In and receipts derived
from each locality, except that in case
of railroad or railway company, tele-
phone and telegraph company and cleo
trical power companies, car company
other than express companies, or of a
pipe line, the apportionment to each
county and to each city or town shall
be in proportion to the line, mileage or
car mileage therein. Provided however,
that the said State Tax Commission shall
have the right and 1t Is hereby declared
to be its duty, to make use of all evil
dence put before It, and of all material
facts at It's command In valuing the
aforesaid properties, and IL 1t shall be-
lieve some other method of calculation
than that herein specifically prescribed
is necessary In order to produce just
and, lawful results, 1t shall follow the
method, which, under all the circum-
stances It believes best calculated to
bring about a fair and equitable valua-
ton of such property.
Sec IN. Within twenty days after
making the valuation of any such fran
chses, or intangible property the State
Tax Commission shall give notice in
writing by registered mail addressed to
or by personal service. or any officer, SUI
perlntendent, cashier or manager of the
owner of said franchises or intangible
properties, stating the valuation fixed by
1t and that on a day specified, not less
than twenty nor more than thirty days
thereafter 1t will meet to hear and de-
uation, which notice must he served at
least ten days before the day fixed for
the hearing. At the hearing the owner
may file statement under oath, speci-
flying the respect In which the valuation
is Incorrect upon which testimony may
be taken and full investigation had.
From the final decision of said Commits
sion on said hearing the owner may APP
peal to the Circuit Court or court of like
t.txf h
in thirty days, upon giving bond with
two sureties, to be approved by the
State Tax Commission and payable to
the State of Alabama, in double the
amount of State and county taxes law
fully due or to become due on such al
sessment or valuation as finally de-
termined on said hearing, conditioned to
prosecute said appeal to effect and to
pay all lawful taxes which may be held
by the courts 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 be de novo, and the
court shall render Judgment against ap-
pellant for such taxes as may be or be-
come lawfully due on siad property.
From the judgment of said court either
party may appeal to the Supreme Court
within thirty days from the rendition
of said judgment.
Sec. s. Whenever any person or assoc
citation OF persons not being a corpora
ton and having no capital stock shall en-
gage in this State IN any character OF
business embraced within the provisions
of this Act, the capital and property, or
the certificates or other evidences of the
rights or interests of the persons, en-
gagged in such business shall be deemed
and treated as the capital stock of such