The Montgomery advertiser., 1907-03-16

name of the corporation Provioed, further, in arriving at the value of the shares of stock of a corporation organized under the laws of Alabama for the purpose of conducting fire insurance business for assessment there shall be deducted from the value of such shares, In addition to the as- sessed values of it's property, the amount of its bonds of the State of Alabama and of the United states held by such fire insurance corporation at the time of such assessment which was held during all the six months preced- Ing such assessment. Provided. fur ther, that in the event of the passage of an Act at this session of the Leg islature assessing the value of fran chises or intangible property of cor porations no share holder of any cor poration who shall pay such tax on franchises or intangible property shall be liable for the taxes specified in this sub division a
 Sec. 1. That Section ss12 of the Code of Alabama as amended by an Act entitled An Act to further amend the revenue laws of the state of Ala bama," approved March 4th, 1901, be and the same Is hereby amended so as to read as follows: That there shall also be assessed by the assessors in each county for taxation the follow ing subjects at the following rates: 1. On the gross amount of sales at auction. made in or during the tax goods, wares and merchandise owned by non-residents. each auctioneer shall be assessed and shall pay tax Of one fourth of one per cent; and q like tax on all sales made by him of property owned bN citizens of this State, which have been imported into this State and sold at auction before the same has P~~ aa nfhAr erty; but on sales of goods, wares and merchandise and fruits, by cargo, the rate of taxation sha.s be one-eighth of one per cent. 2. On the gross amount of commissions. or sums charged and received, during each tax year, by any factor, broker. commission merchant. auctioneer or dealer in any other kind of property, in buying or selling or for any other act in the course of their business. for a commission or compen- sation, by bale sack, package, article ! or otherwise and on the gross receipts, during each tax year, of all grain ele- vators, river landings, wharves, wharf boats stock yards, whether attached to livery stables or otherwise at the same rate that property is taxed. but this shall not aply to banks and build | ing and loan associations otherwise taxed. 8. On the gross income of all | gas works, water works, electric light companies, telephone companies, street railways. toll bridges and ferries, and also all canals, ditches, channels, pass es, tram roads and poll roads used for l transporting timber or other valuable | commodities or commerce at the rate that property Is taxed. Provided. that in the event of the passage of an Act l at this session of the Legislature as- sessing the value of franchises or in- tangible property of corporations no l tch ahan RIrh fQF on franchises or intangible property shall be liable for the taxes specified | in this sub division.
 Sec. B. That Sub division IS of Sec tion 4122 of the Code of ls96 as amend | ed by an Act of the Legislature ems titled An Act to better provide for
 the revenue of the State," approved March 4th. 1903. be and the same is l hereby amended so as to read as fol- lows: Cigar and tobacco stands 15- | For each dealer in cigars and tobacco | in towns and cities of twenty thous-
 and inhabitants or more, ten dollars l in towns or cities of less than twenty | thousand inhabitants, five dollars; pro-
 vided, that in cities or towns dealers
 who carry an average stock of less
 than five hundred cigars or less than
 forty pounds of tobacco shall pay .
 license of one dollar.
 l Sec. 6. That Sub division 40, of
 Section 4f22 of the Code of 1898, al amended by an Act of the Legislature
 entitled, An Act to better provide
 for the revenue of the State" approved
 March 4th. 1908. be and the same fl
 hereby amended so as to read as fol
 lows: Futures, dealers in: 70. Fol
 each person, firm or corporation en
 gagged in the business of buying anC
 selling futures for speculation or on
 commission either for themselves or fol
 other persons. and each place of busi'
 ness commonly known as cotton ex
 changes or stock exchanges and some
 times called bucket shops in towns oi
 cities of twenty thousand inhabitanti
 or more. five thousand dollars; in towni
 or cities of ten to twenty thousand in
 habitants, four thousand dollars; fl
 towns or cities of five thousand inhab
 itants to ten thousand inhabitants
 twenty-five hundred dollars: in town
 or cities of twenty-five hundred to hvt
 thousand inhabitants, two thousand dol
 lars; in towns or cities of twenty-fiv
 hundred inhabitants or less, one thous
 and dollars; but this act shall not b : held to legalize any contract whicl otherwise would be invalid.
 Sec. T. That Subdivision A of Sec ton 4122 of the Code of 1896, as amend l ed by an Act of the Legislature enti
 tied "An Act to better provide for tn : reveAue of the state" approved Marcl AIn, lSUo, pc ana luS same IS HcTSD, amended so as to read as follows Horse Dealers. A. For each persoT l firm or corporation engaged in buying selling, or exchanging horses, mules jacks or jinnets twenty dollars for eac ] county.
 Sec. 8. That Subdivision 54 of Sec ton 4122 of the Code of 1896 as amend ! ed by an Act of the General Assembl } of Alabama, entitled "An Act to fur r ther amend the revenue laws of tn l State of Alabama approved March 5tf 1901, be and the same is hereb P amended so as to read as follows: Ma chimes, slots: 54. For each machine such as nickle-in- -the-slot, or other de vice of like character, whether tn [ same is charged for or not. ten dol { lars. This shall apply to phonographi weighing machines, music boxes, etc 5 having the nickIe or penny-in the -slo r device. Provided. this Act shall no apply to any device prohibited by law Provided, further, that this licens shall be due and payable by the per , son, owner or proprietor of the estah lishment. store or place of business 1 r or at which such slot machine is To { cated, and the State shall have a lie | upon such machine for the payment c , such license which lien may be enforc [ ed by attachment.
 1 Sec. g. That Subdivision 56 of Sec r tion 4122 of the Code of 1S96 as amend } ed by an Act of the Legislature, er titled "An Act to better provide fo the revenue of the State" approve
 March 4th, 1903, be and the same q hereby amended so as to read as fol