The Green Forest tribune., 1911-12-22

"Section 27. Shares of stock in building and loan associations shall be assessed at their true and full value in money. The president, sec retary cashier or principal account ing managing officer of the company or association shall make a return to the assessor wherein shall be stated:
 q. The amount of any surplus or reserve fund by whatever name call ed belonging to the company
 "2. The number of outstanding shares of paid-up stock by whatever name called belonging to the com pany.
 "3. The number of shares and present value of all outstanding in- stallment stock. Thts shall include stock sold and outstanding whether the same under the terms of the con tract has a loan or withdrawal value or not Stock that has no loan or withdrawal value under the terms of the contract under which sold shall be held to be worth. the actual amount paid therefor.
 A. The assessed value of all the real estate belonging to the company.
 "5. The value of all stock pledged to the company
 'The sum of the fourth and fifth items shall be deducted from the sum of the first, second and third items and the remainder shall be deemed to be the aggregate value of the un- pledged shares of stock outstanding. Said sum shall be used as basis for assessing the sad building and loan associations and assessments shall be against the association as agent for it's stockholders The association shall pay the tax so assessed and shall have lien on the unpledged shares of stock outstanding on Feb ruary 1st, the year the assessment is made for the amount so paid. Any contract attemrfirg to impose upon the pledged shares of stock of any building and loan association any part of tax assessed as above provided shall be null and void"
 "Section 2S. Every power heating electric. gas, street car toll gate, toll bridge and other similar cornoration commonly known as any public utility corporation doing business in .a state (eXcept railroads. telegraph. teIe phone, express, sleeping car and p;pc ! line companies, the assessment ot whose property is otherwise provided | for), shall, throueh it's president. sec retary or principal manager or officer annually, on February 1et, make and | file with the Arkansas Tax Commits | sion 2 statement "a which shall be i distinctlv set fCrth:
 ] "1, The name and principal office of the corporation.
 % The tcta1 fare valua of all ont standiDg nreferrod stock: the market and if no market, the actual value of same.
 '3. The total face value of all out staiding preferred stock. the market and if no market, the actual value oi same
 "4. The total outstanding bonds or notes and other similar securities by whatever name called, secured by mortgage or deed of trust on any part of the property belonging to said company the market, and if nc market the actual value of same.
 "5. The assessed value of all real estate belonging to the company.
 "The total of the second. third and fourth items less the fifth shall be deemed to be the value of the per sonal property of the company.
 "It is the purpose of this act to tax everything that adds to the value of stocks and bonds described in this section, including every kind of in corporeal and intangible property such as easements and franchises of every kind except the right to be a corporation: provided. that in the year 1911, the corporations, whose as. sessments is provided for in this sec tion, shall make the return herein prescribed and file the same with the Arkansas Tax Commission on or be. fore the first day of July of said year."
 Section %. The Arkansas Tax Commission shall assess the personal as set out in section 2S hereof, at the same time and in the same man. ner it assesses the property of the railroads, telegraph, telephone, eX- press, sleeping car and pipe line com panies It shall keep record of the assessments of such corporations as made by it and shall certify out to the several assessors of the state the valuations, as determined by it, of the property of the corporations mention ed in said section 2S of this act The assessors shall enter upon their books in the same manner as they enter the assessments of the railroads and of the telegraph, telephone. express, pipe line and sleeping car companies" {"
 "Section 30 All corporations doing business except corporations whose nropertv ie aesessed by the Arkansas Tax SCorlnoission. and the corporations required to rcake and file the special returns nreecribo1 by sections 25 and 27 of this .t shall, in addition to the lists prescribed in sections 16, IS, 19. 21 and 22 hereof. make and file with the assessor statement wherein shall he set forth:
 q. The name, location and princi- pay office of corporation
 %. The number of shares of stcck of the said cornoration outstanding and the face value of each.
 "3. The market value of each share. and If no market value. the actual value