The Forrest City times., 1912-07-05
business shall assess for taxation as

business shall assess for taxation as
 The president. secretary or principal
 accounting officer or other represen-
 tatiye shall make and file with the as
 sessor 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.
 2 The total capital stock paid in or
 secured 10 be paid in by note or other 1 wise
 3 The surplus and undivided profits ] belonging to the company 1. The market value and if no mar
 ket value the actual value of each share
 of stock
 b The aggregate value of all shares
 6. The assessed value of any real q,
 tate that may be owned by the com 1 pany. association or corporation The sixth item shall be deducted from the fltth Item and the remainder shall
 be taken as basis for assessing the shares or stock of said company inc assessment shall be made against l the company. association or corpora l ton as the agent of It's share holders i that IS 10 say, the tax shall be assessed i against the shares of stock and not against the capital stock or property
 belonging to the corporation. l In reckoning the assessable yalue of such shares of stock no allowance shall
 be given for any United States bonds 1 or other non-taxable securities or for
 any stocks or bonds owned by the com pahy, ana which may be otherwise tax ed. For purposes of taxation 1t is the purpose of this section to recop- hlZe the shares of stock in the corpo-
 ration as the property to be taxed and 10 require the officers of the corpora- | tons 10 assess same for the owners
 Section 26 Any company. associa- ton or corporation paying A tax on sharcs or stock as provided in section ] z hn
 paid from any dividend accruing on said stock ~
 Section 27. Shares of stock of build ing ana loan associations shall be as- sessed at their true and full value in
 money. The president. secretary. cash
 fer or principal managing officer of the company or association shall make A return to the assessor wherein shall be stated:
 1. The amount of any surplus or reserve fund by whatever name called belonging to the company. 2. The number of outstanding shares
 of paid up stock by whatever name call ed in said company and the aggrega te value of all such shares.
 8 The number of shares and the pres- ent value of all outstanding instalImant 1 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 the terms of the
 contract under which sold shah he held to be worth the actual amount pa Id thereon.
 4. The assessed value of all the real estate belonging to the company
 ,. The value of all stock pledged to the company.
 The sum of the fourth and fifth i items shall be deducted from the sum of the first. second and third items and i the remainder shall be deemed to be | the asgregate value of the unpledGe1 Il l shares of stock outstanding. Said sum shall be used as a basis for assessing the shares of stock of said building and loan association and the assessment snail be against the association as
 agent Tor It's stockholders The associa- ton shall pay the tax so assessed and snail have lien on the unpledged shares or stock outstanding on February lst the year the assessment is mace, Tor the amount so paid. Any contract attempting to impose upon the pledged
 shares of stock in a building and loan association any part of the tax assessed
 as above provided shall be null and void.
 Section 2s. Every power. heating electric gas. water, street car toll road
 toll bridge and other similar corpora ton commonly known as a public utility corporation doing business in this State (exeept railroad, telegraph. tele- phone, express. sleeping car and pipe line companies the assessment of whose property is otherwise provided for), | v or principal manager or officer. annu- ally. on February 1st make and file with the Arkansas Tax Commi saon a statement in which shall be distinctly set forth:
 1. The name and principal office of the corporal tion
 ?. The total face value of all out standing common stock; the market. and II no market, the actual value of same 5. The total face value of all out standing preferred stock. the market
 and if no market. the actual value of such stock.
 4. The total outstanding bonds and other similar securities by whatever name called. secured by mortgage or deed or trust on any part of the prop
 erty belonging to said company; the market and If no market, the actual value of same.
 5. The assessed value of all real es- tate 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 personal property of the company It is the . purpose of this Act to tax everything l that adds to the value of the stocks and bonds Of the corporations described l m this section. including every kind of l lncorporeal and intangible property such
 as easements and franchises of every Kind. except the right to be a corpora tion' provided that in the year 1911. l the corporations, whose assessment is l provided for in this section shall make
 the return herein prescribed and file
 the same with the Arkansas Tax Com
 mission on or before the first of July of said year
 Section 29. The Arkansas Tax Com
 mission shall assess the personal prop l erty of the several corpora tions set out ! in section 2S hereof at the same time l and In the same manner Gs it assesses l the property of the railroads, and of i telegraph. telephone, express. sleeping
 car and pipe line companies. It shall i keep record of the assessments of i such corporations as made by it and i shall certify out to the several assess l ors of the State the valuations as de- 1 termined by 1t. of the property of the corporations mentioned in said section | 2S of this Act. The assessors shall en- 1 ter upon their books the assessments so | certified to them in the same manner l as they enter the assessments of the i railroads and of telegraph telephone, express, sleeping car and pipe line | companies.
 Section 90. All corporations doing | business in this State. except corpora i tions whose property is assessed by the l Arkansas Tax Commission and the cor 1 porations required to make and file 1 the special returns prescribed by sec l tions 25 and 27 of this Act shall in