Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1911-05-04

stakeholder I'd the head OF corpora
ton stock the total value of such
shares. To aid the assessor in fixing
the value of such shares, the said cor
poration shall furnish hin a verified
statement of all the matter provided in
section thirteen hundred and twenty
N (321), of the supplement to the
code. 1907. which shall also show SEP
arately the amount of the capital stock
and the surplus n undivided earn
ings, and the assessor from such state
ment n fix the value of such stock
based Upon the capital, surplus and
undivided earnings. In arriving at the
total value of the shares of stock of
such corporations, the amount of their
capital actually invested in real estate
owned by them and in the shares of
stock of corporations owning only the
real estate, Inclusive OF leaSehold in
terests. II any, on or in which the bank
or trust company is located, shall be
deducted from the real value of such
shares and such real estate shall be as
sessed as other rel estates, and the
property of such corporation shall not
be otherwise assessed"
Section 5. For the purpose of plac-
ing the taxation of bank and loan n
trust company stock n moneyed cap
ttal as nearly as possible upop a tax
table value relatively equal to the tax
able value at which other property is
now actually assessed throughout the
state a. compared with the actual value
thereof, 1t is hereby provided that state
stavings and national bank stocks and
loan n trust company stock and mon
eyed capital shall be assessed and
taxed upon the taxable value of 90 per
cent of the actual value thereof. deter
mined as herein provided, which 90
per cent of the actual value shall be
taken INC considered as the taxable
value and shall be taxed as other prop
erty in such taxing district.
Section 6. The provisions of this
act hal be in effect and govern the
assessments made in the year 1911, and
subsequent years. If assessment OF
any such stock OIL moneyed capital is
not made during 1911 within the time
now provided by law. or is illegally or
irregularly made, the assessor OF the
June 1, 1911, in which to rectify the ir-
regularity or correct the ~illegality. or
re-assess such stock or moneyed cap
ital. and the board OF review of the
taxing district is, during the month of
June, 1911. authorized and directed to
review such assessment following the
proceedings now provided by law as to
original assessments.
Section Z. The provisions Of his act.
SO far as applicable shall apply to cities
acting under special charter and in such
cities stocks and moneyed capital re-
NO III SSSlO - 1lCiCOl SlldII w
assessed at the taxable value Of 80 per
cent of that applied to other property.
II the taxable value of such other prop
erty is fixed at any portion thereof ex-
cept rs per cent of the actual value there
OF, as shown by the assessment, the city
council, whenthe levy for all city purposes
has been determined shall ascertain the
equivalent thereof based upon such Is
per cent valuation and shall certify
the aggregate of the levy so as%certained
to the county treasurer of the county
in which such city is located. When
the millage tax provided in section /
hereof is collected the county treasurer
shall pay to the treasurer OF such city
such portion of said millage tax coll
lected as the aggregate levy so certified
is of the total levy obtained by adding
such certified levy to the levy for ali
purposes except city purposes. and
such city shall not be permitted to i'm
pose taxes upon the property referred
to in section / hereof.
Section 8. The provision of this act
as to the assessment and taxation Of
moneys and credits other than moneyed
capital and shares Of stock of state,
savings and national banks and loan
and trust companies shall not apply to
taxes levied for the year 1911.
Section 8. This act being deemed of
immediate Importance shall take effect
and be in force from and after it's pub
lication in The Register and Leader
and De- Moines+ Capital, newspapers
published in the city Of Des Moines. la,
Approved April 6, A. D., 1911.