The Harrison times., 1912-01-13

taxes 50 paid from any dividend ac'
cruing on stock"
Section q. Shares Of stock in
building and loan associations shall
be assessed at their true and tull
value In money, The president, sec
retary cashier or principal account
ing managing officer Of the company
or association shall make return
10 the assessor wherein shall be
stated;
81, The amount Of any surplus or
reserve fund by whatever name call
ed belonging to the company
o. The number Of outstanding
shares Of paid-up stock by whatever
name called belonging to the com
pany,
49, The number OF shares and
present value Of all outstanding In
stallment stock. This shall include
stock sold and outstanding whether
the same under the terms Of the con
tract has a loan or withdrawal value
or not, Stock that has no loan or
withdrawal value under the terms Of
the contract under which sold shall
be held to be worth the actual amount
paid therefor
a. The assessed value Of all tho
real estate belonging to the company,
49, The value Of all stock pledged
to the company.
"The sum Of the fourth and nfth
items shall be deducted from the sum
OF the first, second and third items
and the remainder shall be deemed to
be the aggregate value Of the I'M,
pledged shares Of stock outstanding
Said sum shall be used as basis for
assessing the said building and loan
associations and assessments shall be
against the association az agent for
It's stockholders The association
shall pay the tax so assessed and
shall have lien on the unpledGod
shares Of stock outstanding on Feb.
ruary 1st, the year the assessment
Is made for the amount 80 paid, Any
contract attempting to impose upon
the pledged shares Of stock Of any
building and loan association any part
of tax assessed as above provided
shall be null and void"
"Scctlon 2S, Every power, heating,
electric, gas, street car, toll gate, toll
bridge and other similar corDoraton,
commonly known az any public utDlty
corporation, doing business in
state (eycopt railroads, telegraph, tele.
phone, express sleeping car and pipe
limo companies, the assessment Of
whose property Is otherwise provided
for), shall, through It's president, sec.
rotary or principal manager or officer,
annually on February lst make and
0lo with the Arkansas Tax Commits.
sion statement IN which shall be
distinctly set forth;
a. The name and principal Office
Of the corporation.
"2 The total face value Of all out.
standing preferred stock the market,
and II no market tho actual value
Of same,
49, The total face value Of all out,
staIdng preferred stock; the market.
and II no market the actual value Of
same,
~, Tho total outstanding bonds
or notes and other similar securities
by whatever name called, secured by
mortgage or deed Of trust on any
part Of the property belonging to said
company the market and If no
market, the actual value Of same,
rs, The assessed y0luo Of all real
estate belonging to the company,
"Tho total Of the second, third and
fourth items less the nfth shall be
deemed to be the value Of the per.
sonOl property Of tho company,
"It Ia the purpose Of this act to tax
everything that adds to the value Of
stocks and bonds described IN this
section, including every kind Of IN.
corporal and intangible property
such as easements and franchises OF
oyory kind, except the right to be n
corporations provided, that In the
yoar 1911, the corporations, whose Na'
sossmcnt5 Ia provided for in this Soc
tlon, shall make the return herein
prescribed and nlo tho same with tho
Arkansas Tax Commission on or be.
fore the FIRST day Of July Of said
year"
section co. The Arkansas Tax
Commission shah 0eseas the personal
property Of the several corporations
os aot out In section rs, hereof ot
the same time and In the same man
nor II Naaeaaoa the property OF tho
railroads, telegraph, telephone, eYs
press, sleeping car and pine line com.
panios, II shall keep n record OF the
assessments Of such corporations MS
modo by II and shall certify out TO
the several 0gsoaaorR Of the state tho
valuations, aa determined by IT, OF the
property Of the corporations mention
cd In said section IS Of this act The