The Harrison times., 1912-07-06


accounting officer or other represen-
tative shall make and file with the as
SCISSOR a 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.
?, The total capital stock paid in or
secured to be paid in by note or other
wise.
3. The surplus and undivided profits
belonging to the company.
L. The market value, and II no mar
ket value, the actual value Of each share
Of stock
Of stock.
G. 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 fifth item and the remainder shall
be taken as basis for assessing the
shares or stock of said company
The assessment shall be made against
the company association or corpora
ton as the agent OF It's share holders,
that Is to 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 asscssable value OF
such shares of stock no allowance shall
be given for any United States bonds
or other nOu-taXable 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-
niZe the shares OF stock in the corpo.
ration as the property to be taxed and
to require the Officers OF the corpora
tions to assess same for the owners,
Section rs, Any company assocla-
ton or corporation paying n tax on
shares OF stock as provided In section
25 may deduct the amount OF taxes 80
paid from any dividend accruing on
said stock,
Section 27, Shares OF stock OF build
Ing and loan associations shall be as
sessed nc 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;
/. Tho amount OF any surplus or
reserve fund by whatever namo 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. The number OF shares and the pres.
ent value OF all outstanding lnstallment
stock. This shall include all install.
ment stock sold and outstanding whether
the same under the terms OF the con.
tract has n loan or withdrawal value
or not stock that has no loan or with.
drawal value under tho terms OF tho
held to bo worth the actual amount paid
thereon,
4. The assessed value OF all tho real
estate belonging 10 the company
8, The value OF all stock pledged TO
the company
Items shall be deducted from the sum
OF the first, second and third Items and
tho remainder shall be deemed 20 be
the aggregate value OF the unpledged
shares OF stock outstanding Said sum
shall be used ns basis for assessing
the shares of stock OF said building and
loan association and tho assessment
agent for It's stockholders, The Nssoela.
ton. shall pay the tax 40 Nsacsscd and
shall have lion on tho unplodged shares
OF stock outstanding on February
st tho year tho assessment IL made,
for tho amount 30 paid Any contract
attempting to impose upon tho pledged
shares or stock In u building ana loan
association any part Of tho tax aNHoHsod
M above provided shall DO null ana
void,
Section 49, Every power heating,
electric, gas, water, street car, toll road,
toll bridge ana other similar corpora
ton, commonly known m a public utility
corporation doing business In this
state (eXoept railroad, telegraph, tolo'
phone, express, sleeping ear ana pipe
llne companies, the assessment OF whose
property In otherwise provided for),
shall through lts president secretary
or principal manager or officer, nnnus
ally on February lst mako ana file
with the Arkansas Tax Commission n
| hn
sot forth,
I, The namo ana principal office OF
the corporation
2, Tho total face value OF oil out.
standing common stock tho market ana
If no market, the actual value OF same.
B. Tho total face value OF oil out
standing preferred stock, tho market
nnd If no. markoL tho actual value OF
such stock
g. Tho total oulatondng bonds and
other similar securities by whatever
nomo called, secured by mortgage OF
deed or trust on any part OF tho prop
ofty belonging 60 said company, tho
marriott ana If no market, the actual
value uf Sumo,
D. The assessed value Of all roul on.
tate helOugug 90 the company,
Tho total Of the second, third and
| fourth items less tho firth shall be-
deemed Go he the value of the personal
| property or tho company, II is the
! purpose of this Act to tax oyefythiHg
that adds To the value OF the stocks
ana bonds of tho corporations described
in this section including every kind OF
| lnoorporenl and intangible property such
AH easements and franchises OF every
| klndi except the right Co ho n corpora
| tloni provided that IN tho year 1911
| the corporations, whose assessment Id
| provided for IN this section shall make
| the return herein prescribed ana fllu
| the same with the Arkansas 'ruN Com.
| mlHnlon on or before tho first VI July
OF said year
Section 90 Tho Arkansas Tax Com
mlHHloh shall assess the personal prop.
efty OF the several corporations Hut out
IN section gS Hereof NJ the same time
| ana In tbo same manner aH II nHHesaoH
| the property OF tho railroads ana OF
| telegraph, telephone, exprcHa, bloeplna
,nr ana pipe line companies II shall
Keep u record OF the assessments OF
/ such corporations AH made by II aud
! shall certify out 10 the several aHaeasa
0fH " the State the valuations, as dc.
| itrmlnod by lt of tho property of the
corporations mentioned IN said section
| TN Of THE Act, Tho nHHoHnurn shall ON.
| certified tu them in tho same manner
aH they enter the assessments of tht
railroads and OF telegraph telephone
express, sleeping ear and pipe line
| companies
Section 90 All corporations doing
| business IN this state, except corpora.
! tlunH whose property Ia assessed by tho
| Arkansas Tax Commission ana tho cor.
| p0rutonH required 10 make ana file
| Ilons 90 and ~ or this Act, shall Ia
/ auditia IA iHa iiBtB uFiBHpinau bV saa-