The Harrison times., 1912-06-01
business shall assess for taxation as

tatlve shall make and file with the as
SCISSOR sworn statement wherein shall
be distinctly set forth
l. The number OF shares OF capital
stock outstanding and the face value
OF each OF same,
?, The total capital stock paid In or
secured to be paid in by note or other
wise,
g. The surplus and undivided profits
belonging TO the company.
T. 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 b0 owned by the com
pany association or corporation.
The sixth item shall be deducted from
the fifth item and the remainder shall
be taken as n basis for assessing the
shares Of stock OF said company.
The assessment shall be made against
the company association or corpora
tion as the agent of its shareholders,
that TX TO say, the tax shall b0 assessed
against tho shares Of stock and not
against the capital stock or property
belonging TO the corporation
In reckoning tho asscssable value Of
such shares Of stock no allowance shall
be given for any United states bonds
or other taxable securities or for
pany, and which may be otherwise tax
ed For purposes Of taxation Il is
the purpose Of this section TO recog-
nlzo the shares OF stock In the corpo-
ration as the property TO be taxed and
TO require the officers OF the corpora
tionS 20 assess same for the owners.
Section 2G, Any company. assocIa-
tion or corporation paying n tax on
shares of stock az provided I'm section
25 may deduct the amount OF taxes so
paid from any dividend accruIng on
said stock.
Section 27. Shares OF stock Of build
Ing and loan associations shall be as
sessed at their true and full valuo I'm
money The PRESIDENT secretary, cash.
Ter or principal managing officer OF the
company or association shall make a
return 10 tho assessor wherein shall be
stated:
J. Tho amount OF any surplus or
reserve fund by whatever nama called
belonging to tho company
2, Tho number OF outstanding Bhares
Of paid up stock by whatever name call
ed In said company ana the aggregate
value Of all such shares,
3, The number OF shares and tho pres.
ent value Of all outstanding installmont
stock This shall include all install.
mont stock sold and outstanding whether
the same under the terms OF tho con
tract has a loan or Withdrawal value
or not stock that has no loan or with
drawul value undor tho terms OF the
contract under which sold shall be-
held 20 bo worth tho actual amount paid
thereon,
4. The assessed value OF all tho real
estate belonging 90 the company
o, Tho yoluo Of all stock pledged TO
tho company
Items shall be deducted from the sum
Of the first second and third items and
tho remainder shall be doomed 10 be
the aggregate value OF tho unplcdgcd
shares OF stock outstanding, Said sum
shall DO used as basis for assessing
the shares OF stock Of said building ana
onn association aud tho assessment
agent for It's stockholders, Tho nasooln-
tlon Hh0ll pay tho tax no assessed and
snail h0No Il lien on tho unplodRod shares
or stock outstanding on February
lst, tho year tho assessment ia made,
for tho amount 40 paid Any contract
Attempting 20 impose upon the pledged
shares Of stock In a building ana loan
association any part Of the tax assessed
ns above provided shall be null ana
void,
Section 2S Every powor heating,
electric, gaa, water street car toll road,
toll bridge and other similar corpora
ton commonly known 0A n public utility
corporation doing business IN this
state toXccpt railroad, telegraph, tolo'
phone, CNproHg, sleeping ear ana pipe
lln0 companies, the assessment Of whose
property Ia otherwise provided toD,
shall through its president secretary
or principal manager or officer aunuz
ally on February lat mako ana file
with the Arkansas Tax Commission u
statement IN which shall bo distlncty
set forthi
I, Tho nomo ana principal office Of
tho corporation,
g Tho total faco value OF all out
standing common stock tho market ANA
If no market, the actual value of same.
g. The total face value OF all out
standing preferred stock tho market.
.and If mo- market tho actual value of
such stock
T. The total outstanding bonds and
other similar nucurltlpB by WNntryor
unmo called, secured by mortgage or
deed Of trust on any part Of tho prop
rriy belonging to said company tho
market ana In no market, the actual
yuluoNf sumo.
o, Tho orHosgod value of all real On,
tuto holuunug to the company
Tho total Of tho second lhlrd and
fourth Items less the fIfth shall be-
deemed To ho the value of the personal
property OF the company II lH the
purpose Of this Act to tax everything
that adds ~ the value Of the HtoeEs
ana bonds Of the corporations described
u this section including every kind OF
incorporcnl uud Intangible property. such
us cuaomuuts ana fwuohlaca Of every
KIND except tho right ~ ho "a corpora
tloni provided, that I'm tho year 1911,
tho corporations whose assessment Ia
provided for IN this section shall make
tho return herein prescribed ANA fllp
the same with the Arkansas Tax Com.
mission ON or before tho first OF july
of said year
Section 90 The Arkansas Tax Com
mission shall hHaoHA the personal prop
rrty OF the several corporations Hpt out
IN section 2S hereof nc tho Hamo time
hnd IN the Hamo manner aH II bHHoBsoa
tho property OF tho railroads ana Of
telegraph telephone express, sleeping
,hr ana plpo llno companies II shall
Keep II record OF tha uHnoHumonlH OF
such corporations AH mpdo by II and
shall certify out ~ the ReyorW usaoHHs
0fA OF The State tho valuations, as de-
termned by H. Of the property Of the
corporations mentioned in said section
hh or thlH Act Tho hHHpHHurH fhnll pua
ter upon their books tho HHaoHHmontH Ha
crrtltlod tu them I'm the HnmO munuor
pn they enter tho uHHeHHmoula OF the
railroads aud of telegraph, telephone,
express sleeping ear aud pipe line
Aetlion 30 All corporations doing
business IN this state, tNrpbt enrnoFaa
tlohB whose property Ia assessed hy the
Arknnsas TnN Commission and the cor.
purntlhnH required tO make ana file
tho special rrturna prescribed by see
tlons 20 nnd ~ OF this Act, shall, IN
addition ~ the llBta prescribed by Heoa
tl0n 10, ~, 49, 81 ana gg hereof, make
ana file Win tho Assessor a statement
wherein shall be- distinctly sat forth
Tho nhme, location ANA principal
a.TY M ilta