The Harrison times., 1912-06-15
usinoss shall assess for taxation as

business shall assess for taxation as
folows
The president. secretary or principal
accounting officer or other represen-
tative shall make and file with the as
SCISSOR sworn statement wherein shall
be distinctly set forth:
1. The number or shares OF capital
stock outstanding and tho face value
OF each of same.
2. The total capital stock paid in or
secured to be paid in by note or other
wise.
9. The surplus and undivided profits
belonging to the company.
4. The market value, and II no mar
ket value, the actual value Of each share
Of stock.
8. The aggregate value of all shares
Of stock.
G. The assessed value Of any real es-
tate that may be owned by the com
pany, association or corporation.
Tho sixth item shall be deducted from
the fifth item and the remainder shall
DO taken as basis for assessing the
shares OF stock OF said company.
The assessment shall be made against
the company, association or corpora
tlon as the agent of its share holders,
that Is TO say the tax shall bo assessed
against the shares OF stock and not
against tho capital stock or property
belonging to the corporation
III ltNhuIlHb lue hSktSSADle value OF
such shares OF stock no allowance shall
be given for any United States bonds
or other non-taXable securities or for
any stocks or bonds owned by the COM
pany, and which may be otherwise tax
ed. For purposes of taxation IL is
the purpose of this section to recog-
nize the shares of stock In the corpo-
ration as tho property to be taxed and
to require the officers OF the corpora
tionS TO assess same for the owners.
Section 26. Any company, assocln-
tlon or corporation paying n tax on
shares OF stock as provided In section
25 may deduct the amount OF taxes so
paid from any dividend 0ccruing on
said stock,
Section 81. Shares OF stock OF build
ing and loan associations shall bo as
sessed at their true and full yalue In
money The president, secretary, cash
Ter or principal managing officer OF the
company or association shall make n
return to tho assessor wherein shall be
stated:
/. The amount OF any surplus or
reserve fund by whatever name called
belonging to the company.
2, The number or outstanding shares
Of paid up stock by whatever name call
cd In said company and tho aggregate
value of all such shares,
3. The number OF shares and the pres
ent value of all outstanding Installment
stock This shall include all Install
ment stock sold and outstanding whether
the same under the terms OF the con.
tract has loan or withdrawal value
or not. Stock that has no loan or with
drawal value under tho terms OF tho
contract under which sold shall be
held TO DO worth tho actual amount paid
thereon.
A. The assessed value OF all tho real
estate belonging to the company
3, The value OF all stock pledged TO
the company
The sum OF tho fourth and firth
items shall be deducted from tho sum
OF the first second ana third Items and
tho remainder shall be deemed 90 be
tho aggregate value OF tho unnlodgod
shares of stock outstanding Said sum
shall be used Ms basis for assessing
the shares OF stock of said building and
loan association and tho assessment
agent for its stockholders The Nssoelo.
tlon shall pay the tax 40 assessed ana
shall havo II lien on the unplodged shares
or stock outstanding on February
lst, tho year tho assessment N made,
for tho amount 40 paid, Any contract
Attempting 10 Impose upon the pledged
shares OF stock IN u building and loan
association any part OF tho tax 0AaoaBod
az above provided shall DO null and
void
Section 2s. Every power, heating,
electric, gas, water, street car, toll road,
toll bridge and other similar corpora
tion, commonly known ~ u public utility
corporation doing business IN this
Stnto (oXoopt railroad, telegraph tolo'
phone, eXpreaa, sleeping ear ana pipe
line companies, the assessment of whoHo
property In otherwise provided for),
shall through its president, secretary
or principal manager or officer ahnu-
ally on February lat mako and file
with the Arkansas Tax Commission u
statement in which shall bo dlatlnotly
rot forth
/, Tho name and principal offleo OF
the corporation,
g. Tho total face value OF oil out-
standing common stock, tho market and
If no market, tho actual value Of same.
3 Tho total face ynluo OF all out.
standing preferred stock tho market,
and If no market tho actual value OF
such stock
a. The total outstanding bonds and
other similar securities by whatever
nnmo called, secured by mortgage or
decd OF trust on any part 0f the prop
orty belonging 10 said company, the
market nnd II no market, the actual
value of hume
g. Tho aaseased value Of oil real ea-
tate belonging 60 the company,
The total OF the second third and
fourth Items less the firth shall be
deemed 60 he the value Of the personal
property OF the company II rs the
purpose of this Act Go tax everything
that nddH "a the value of the atnoln
aud bonds OF tho corporations described
IA this section including every Kind OF
lneorporeal and intangible property such
an eHHrmentH and ffhn0hlHea df every
kind, except the right 20 be a corpora
tloh provided, that IN tho year 1911
the corporations whose assessment IN
provided for In this section, shall make
the return herein prescribed und file
the enmu with the ArknnHHH Tax Com
mission on or before che first OF July
OF said year,
aeetion 30, The Arkansas Tax Coms
mission shall assess the personal pfopi
erty OF the several corporations Het ont
IN section gS hereof az the anmo time
ana Nv the Same manner 40 II nnHoaHen
The property OF tho railroads, ana OF
telegraph, telephone, express Hleeplna
var ana pipe line companies, II shall
keep n record of the assessments or
such corporations AZ made by t ana
shall certify out ~ the several hHHrHHa
ora OF the State the Valuations aH do
tofmlhed hy N, nf tho property nf the
corporations mentioned ln said section
9s nf this Act The assessors shall eni
ter unon their books the assessments 20
certified 90 them "a Tie Halle manner
an they enter the assessments OF the
railroads ANA ~ telegraph, telephone,
express, sleeping ear and pipe llhe
companies.
Hettlon 20. All corporations doing
buanpHa IN thla state except corpora.
tlunH whose property M assessed by the
Arkansas 1hN Commission hnd tho o0ra
p0ratl0nh required te make and flle
/. - all. A.