The Harrison times., 1912-06-22
business shall assess for taxation as

follows;
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:
|, The number OF 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.
.. 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.
6. The aggregate value of all shares
6, The assessed value of any real es-
tate that may be owned by the com
pany, association or corporation.
The sixth item shall be deducted from
the firth item and the remainder shall
be taken as a basis for assessing the
shares OF stock OF said company.
The assessment shall be made against
the company, association OF corpora
tion as the agent of Its share holders,
that is 70 say, the tax shall be assessed
against the shares OF stock and not
against the capital stock or property
belonging to the corporation.
In reckoning the assessable value OF
such shares Of stock no allowance shall
be given for any United States bonds
or other non-taxablo 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-
nze the shares OF stock In the corpo-
ration as the property 10 be taxed and
to require the officers OF tho corpora
ftons to assess same for the owners.
Section 26. Any company assocla-
tion or corporation paying tax on
shares OF stock as provided In section
25 may deduct the amount of taxes 40
paid from any dividend acoruing on
said stock
Section 81. Shares OF stock OF build
ing and loan associations shall be as
sessed at their true and full value In
money. The president, secretary cash
Ter or principal managing officer of the
company or association shall make a
return to the assessor wherein shall be
stated
/, The amount OF any surplus or
reserve fund by whatever name called
belonging to tho company
| 2. The number OF outstanding shares
OF paid up stock by whatever name call
ed In said company and the aggregate
value OF all such shares.
g. Tho number OF shares and the pres
ent value OF all outstanding installment
stock This shall include all install.
!
the same under tho terms OF tho CON
tract has loan or withdrawal value
or not stock that has no loan or with.
ldrawal value under the terms OF the
contract under which sold shall be
held TO be worth the actual amount paid
4, Tho assessed value OF all tho real
estate belonging 60 the company
B. Tho yoluo OF all stock pledged 10
the company
The sum OF tho fourth and firth
Items shall be deducted from tho sum
OF tho first second and third items and
the remainder shall be deemed TO be
tho aggregatc value OF the unpledged
shares OF stock outstanding. Said sum
! shall be used as n basis for assessing
the shares OF stock OF said building ana
loan association and tho assessment
agent for its stockholders. The assooin.
| ton shall pay the tax 50 assessed and
shall have n lien on the unplodgod shares
| or stock outstanding on February
lst tho year tho Assessment IL made,
Tor tho amount no paid, Any contract
attempting 60 impose upon tho pledged
shares OF stock In building ana loan
association any part OF tho tax assessed
M above provided shall be null and
void.
Section 2s. Every power heating
electric gas, water, street car toll road
/
tion, commonly known 0g n public utility
corporation doing business In this
state (eXcopt railroad, telegraph, tolo-
! phone, express sleeping car ana pipe
line companies, the assessment OF whose
! property In otherwise provided for),
shall through ita president secretary
or principal manager or officer, annu'
ally on February lst, mako and file
| with tho Arkansas Tax Commission n
statement In which shall bo distinctly
set forth
/. Tho namo and principal office OF
| tho corporation
| 2, Tho total face value OF all out
standing common stock tho market and
VI no market tho actual value or s0m0
j, Tho total face value OF all OUT
standing preferred stock tho market,
ANA II no market the actual veluo OF
| such stock
4, The total outstanding bonds and
other similar securities by whatever
nnmo called, secured by mortgage or
deed or trust on any part OF the prop
| ofty belonging 90 said company; tho
market ana II no market, tile actual
value OF same,
8. Tho assessed value OF all real oa.
toto belonging 10 the company.
Tho total " the second third and
fourth Items less the firth shall be
| deemed % DO the value OF the personal
! property or the company, IL ia the
| purpose or this Act 20 tax every thing
| that adds 10 the value OF the stocks
and bonds OF the corporations described
IN this section, Including every kind or
! incorporonl ANA Intangible property, Huch
/ nH easements and franchises OF every
! ltlnd, except tho right 20 be corpora
| tloni provided, that In tho year 1911,
| the corporations, whose aHaehament IN
provided for In thia section, shall make
| the return herein prescribed aud file
| the same with the Arkansas Tax Come
mission on or before the first Of July
OF said year
| Section 20 Tho Arkansas Tax Com
mission shall apaonA the personal prop
| oriy or the several corporations set out
In section ~ hereof ~ the same time
| ana In tho same manner us II Assesses
! tho property OF the railroads, ana OF
| telegraph, telephone, eNpfeHH sleeping
var and pipe line companies, 10 shall
Keep record of tho nhaoHainontn OF
such corporations ~ made by II aud
| Hhhll eertlfy out a. the several ASSESS
0fH OF the state the VnluntlonR aa de.
! tefmlned by H. OF the property OF the
! corporations mentioned in said section
~ OF this Act The assessors shall ens
! tef upon thelf hooka tile assessments 30
| certified 90 them In tho HhmO manner
an they enter the assessments of the
railroads nnd of telegraph telephone,
eNnresn, hleeplng ear ANA pipe line
companies,
Section a6 All corporations doing
! business IN this state, eNl ut corpora
| tl0hH whose property ls hsseHsed by the
Arkansas Tax Commission and the eof-
! pDfh tlonA fpuulfnd to mike aud fila