St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-10-12

trial and appellate court, shall be
tried summarily, and by preference
over all other cases. Such cases
may be tried in the court of the first
instance either in chambers or at
term time.
IL. No bond shall be required of
said Commission in any case in any
court, nor shall advance costs, or
security for costs, be required of it.
IL. It shall be the duty of the
Attorney General, and the various
district attorneys, on proper request
or direction by the Commission or
the Governor, to aid the said Com
mission in all legal matters, and to
prosecute and defend all cases in &C
cordance with such requests and di-
|rections. A failure on the part of
UGH law officers, when so requested
or directed to perform the duties
here imposed upon them, shall con-
|stitute misfeasance in office.
ARTICLE vi.
/. After January l, 1914, all as
sessments for all State purposes, ex-
cept as hereinafter provided, shall
be completed on or before April LIST
in each year, and the taxes shall be-
come due and payable on the first
Monday in June of each year, and
shall become delinquent on the first
Monday in September in each year.
Each parish and municipality shall
have the right to fix the date for
the completion of its local assess
ments, and the payment OF its local
taxes and licenses general and spec
al. until otherwise prescribed by the
General Assembly. Until otherwise
provided, existing laws on these SUBJ
jects shall be operative. Levee dis
trict taxes and forced contributions
exclusive of produce taxes, shall be
assessed and become delinquent CO.
incidentally with parish taxes.
2. Public service corporations
shall be assessed on their physical
property and on their franchises sep
arately, but the General Assembly
shall have power to direct the Tax
Commission to assess the property
of such corporations at a valuation
including both physical property and
franchises, to be determined by
gross receipts, or by dividends on
stocks and interest paid on bonded
debt, or by any other available
method.
| 3. Incorporated banks shall be
assessed by assessing the stockhold-
ers on the book value of the stock
e., capital stock, surplus and undi-
vided profits less the assessed value
of real estate locally assessed and
|ductions of not less than five per
cent on their loans and discounts to
cover bad debts and unearned in
terest as the General Assembly may
prescribe, which deduction shall be
made only from their surplus and un-
divided profits; all taxes to be paid
by the banks and charged to the
stockholders.
4. Individual bankers, banking
firms and unincorporated banking
associations, domicilcd in this State
shall be assessed on the amount OF
capital, surplus and undivided pro-
fits actually employed in their bust
ness, less the assessed value of real
estate locally assessed and taxed, &C.
ually and exclusively used and EN-.
ployed in their business, and less
such further deductions not less than
five per cent on their loans and dis
counts to cover bad debts and un-
sembly may prescribe, which deduc-
ton shall be made only from their
surplus and undivided profits.
S. Foreign banks, and individual
bankers, banking firms and unincor.
porated banking associations, domi-
lied out of this State but doing bust.
ess in this State, shall be assessed
on such proportion of their capital
urplus and undivided profits as is
+ ctually employed in this State, less
he assessed value of real estate To-
cally assessed and taxed actually an6
Exclusively used and employed in
their business in this State, and less
such further deductions, not less
than five per cent on their loans and
discounts, to cover bad debts and I'M
earned interest as the General AS
emily may prescribe. which deduc-
| ions shall be made only from their
surplus and undivided profits.
s. Insurance, bonding and surety
ompanies, and persons, firms and
| associations engaged in the insur-
nee, bonding and surety business,
GLIDING, however, fraternal insur-
e companies and associations,
be- taxed on a percentage of
gross premiums received upon
usiness done in this State, less
premiums and reinsurance In
or associations authoriz-
usiness in this State. The
aforesaid shall not exceed
t for all branches of in
ling and surety bust
fe and industrial in
all not exceed two
and industrial in,
,ial taxes to sup
re marshall and
US shall not be
miums hereby
=. When by
,te or coun-
ties, licen-
or of Sc.
or pro-
4 urance
T., this
pre- ther
'a1es 1ts
er St. :.
J. penal
t money
,sed ON ins
companies "