The Sentinel=record., 1912-06-13

snareS or 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 shall be against the association as agent for it's stockholders The assOcia- ton shall pay the tax so assessed and shall have lien on the unpledged shares or stock outstanding on February lst the year the assessment is made Tor the amount so paid Any contract attemptng Go impose upon the pledged shares of stock in building and loan association any part of the taN 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 (eNcept railroad telegraph tele- phone express sleeping ear and pipe line companies, the assessment of whose property is otherwise provided forl. shall through It's president, secretary or principal manager or officer annu- ally. on February 1st, make and file with the Arkansas Tax Commission statement in which shall be distinctly set forth
 l. The name and principal office of the corporation,
 2. The total face value of all out standing common stock the market, and IT no market the actual value of same.
 3. The total face value of all out standing preferred stock; the market and if no market the actual value of such stock.
 i. The total outstanding bonds and other similar securities by whatever name called, secured by mortgage or deed of trust on any part of the prop erty belonging to said company; the maEket, and if no market, the actual value of same.
 3. The assessed value of all real es- tate belonging to the company.
 The total of the second third and fourth items less the firth shall be deemed to be the value of the personal property of the company. It is the purpose of this Act to tax everything that adds to the value of the stocks and bonds of the corporations described in this section. including every kind of ineorporeal and intangible property, such as easements and franchises of every kind, except the right to be a corpora tion provided, that in the year 19lL the corporations, whose assessment is provided for in this section. shall make the return herein prescribed and file the same with the Arkansas Tax Com mission on or before tne first of July of said year.
 Section go The Arkansas Tax Com mission shall assess the personal prop erty of the several corporations set out in section 2S hereof at the same time and fin the same manner as it assesses the property of the railroads and of
 
 ear and pipe line companies It shall keep a record of the assessments of such corporations as made by it and shall certify out to the several assess ors of the State the valuations as de- termined by 1t, of the property of the corporations mentioned in said section 2S of this Act The assessors shall en- ter upon their books the assessments so certified to them in the same manner as they enter the assessments of the railroads and of telegraph, telephone express sleeping ear and pipe line companies
 Section 30 All corporations doing business in this State. except corpora tions whose property is assessed by the Arkansas Tax Commission and the cor porations required to make and file the special returns prescribed by sec tions 25 and 27 of this Act. shall, in addition to the lists prescribed by sec tion Is, 1S 19, 21 and 22 hereof make and file with the assessor statement wherein shall be distinctly set forth:
 1. The name, location and principal office of the corporations.
 2. The number of shares of stock of said corporation outstanding and the face value of each share. a.-.--...a ,A,. B. The market value of each share each
 4. The aggregate actual value or market value, as the case may be, of all outstanding stock.
 D. The NOldl UOilS Oi tiie EOfDOId- tion secured by mortgage or deed of trust on property belonging to the com pany, and the aggregate market value or actual value of such bonds.
 6. The assessed value of all real es- tate owned by the company.
 I. The value of all tangible personal property owned by the company and as- sessed under either section 16. IS, 19. 21, or 22 hereof
 The sum of items four and five, less the sum of items six and seven, shall he held to be the value CT the iiitafi- gihle property of the corporation and shall be listed and assessed by the cor poration as agent for it's shareholders under the heading Intangible Prop erty."
 Section s1 The corporations required to make the return provided for in section 80 of this Act shall list and assess their tangible property real and personal on the proper form as provided by sec tions. 16 IS. 19, 21. and 22 hereof The return prescribed by section 80 hereof is required in addition to the regular lists provided by this Act and it's pur- pose is to secure the assessment of the intangible property belonging to the corporation.
 Section g. Each of the stakments required by sections 16, IT, 1S, 19 20, 21 22 25. 27. 2S and 90 Of this Act must be subscribed and sworn to by the person making and filing same Said oath shall be in 4the following form:
 '1 dO SolemnlV swear Cor affirm) that the list of prop erty as now rendered by me contains all the personal property. which I am by law required to list for taxation for myself Cor as. s................. that each answer made by rue in said tatanent is in every resDect true, that I have valued each item of property al it's true and full value Tn money. and that in fixing the value of said property I have not taken same at an amount below its true and full value fin money because of the fact that I was assess Ing said property for taxation"
 Section 33 Except as may be by this Act otherwise provided all prop erty shall be listed and valued as on the first day of February in the year in which same is assessed, and the trans fer CT sale of any taxable property sub- sequent to the first day Of February shall not authorize any person to omit the same from any list although such list shall not be made until after the sale or transfer of such property. but all such property shall be listed for taxation in the same manner as if no sale or transfer thereof had been made But where bonds of the United States have been purchased by any individual or firm during the year prior to the first day of February and such indi- Vtdual or firm is claiming exemption because of such bonds where property is required to be listed as Of that day the value of such bonds in money shall be divided by twelve and the auotlent shall be multiplied by the number of months or fractional parts of months remaining after deducting the time which said bonds were owned and such product shall be listed as money on hand on the first day of February