The Harrison times., 1912-06-08

follows:
The president, secretary or principal
| accounting officer or other reprcsen-
tatiye 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.
g. Tho surplus and undivided profits
| belonging to the company.
T. Tho market value, and II no mar
ket value, tho actual value Of each share
Of stock
g. The aggregate value Of all shares
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 a basis for assessing the
shares Of stock OF said company
The assessment shall be made against
! the company association or corpora
! ton as the agent Of It's shareholders,
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 assessable value OF
such shares Of stock no allowance shall
| be given for any United states bonds
| or other non-taXabo 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 rccog-
| nize the shares OF stock in the corpo-
! ration as tho property to be taxed and
] to require tho officers OF the corpora.
| tions to assess samo for the owners.
Section 26, Any company assocla-
] n no ton
| shares OF stock az provided I'm section
20 may deduct the amount OF taxes 30
paid from any dividend aocruing on
| said stock
Section 27. Shares Of stock OF build.
! ing and loan associations shall be as
! SeSSed at their true ana full value In
money, The president secretary cash
Ter or principal managing officer OF the
| company or association shall mako a
return 70 tho assessor whoron 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
vplue Of all such shares.
., The number Of shares and the pres.
ont value OF all outstanding inStallment
stock, This shall include all INSTALL
ment stock sold and outstanding whether
the same undor the terms OF the con.
tract has loan or withdrawal ynluo
or not stock that has no loan or With
drawal value under the terms OF tho
contract under which sold shall be
held to be worth tho actual amount paid
thereon
a. The assessed value OF all tho real
estate belonging 20 tho company
8. The yaluo Of oil stock pledged 10
tho company
Tho sum OF tho fourth and flfth
Items shall be deducted from tho sum
of tho first, second ana third items ana
tho remainder shall be deemed 20 be
| the aggregate ynlu0 Of tho unplodgcd
shares OF stock outstanding, Said sum
snail be used rs basis for assessing
tho shares Of stock OF said building and
| loan association and tho assessment
shall be against the association MS
agent for its stockholders. The assocla-
ton shall pay the tax so assessed aud
snail have lion on tho unplodgcd shares
Of stock outstanding ON February
Nt tho yo0r the assessment ls made,
for tho amount 80 paid Any contract
Attempting TO impose upon tho pledged
shares OF stock In u building and loan
association any part OF tho tax pssonsod
na above provided shall be null and
void
Section 2S, Every power hcatng
electric, gas water street ear toll road,
toll bridge and other similar corpora
ton, commonly known az II public utlllty
corporation doing business In this
state (cNccpt railroad, telegraph, tcloa
phone, cNprcss accplng car ana pipe
llnu companies, the assessment Of whose
property IN otherwise provided fpr),
shall through lta president secretary
or principal manager or officer, Hnnur
any, on February lHt, mako ana fllo
with the ArkOnanB Tax Commission n
statement IN which shall be distinctly
Hot forthI
I, Tho name and principal office OF
the corporation,
@ Tho total face value OF oil out
rtWdlug common stock tho market aud
" NO market the actual value Of Hamo,
u Tho total face value OF all out
standing preferred stock the market
ana If no market the actual value OF
such stock
T. The total outstanding bonds and
other nimUur securities by whutpyor
name called, secured by mortgage or
decd OF trust ON any part of the prop
oriy belonging 10 said company, the
market ana II 40 market tho actual
value NJ Humo,
3, The nrsofaod value Of all real oas
tate hoIuuHlnE 10 the company
Tho total OF the second thlrd ana
tuurlh llomH lo1n the flfth uhull be
deemed 10 hn tho value Of the personal
property 0f the company n iH the
purpose of this Act TO tax everything
lhht adds ~ the value OF the stocks
ana bonds Of the corporations described
ih TINS section including every kind Of
nrotrorral ana intangible property such
nH easements ana franchises of every
klnd except the rlght to ho u corporn-
ton, provided, that In tho year l0llt
tho corporations whose uHHrHgmtut Id
provided for IN this section, shall make
tho return herein prescribed hnd file
tho same with the AfKHnHHH Tan Com
mission on or before the first OF July
of said year
Section 2n Tho ArtanHns Tax Com.
mission shall nHHpHH tho personal prop
orty OF the several corporations aot out
IN section 2b hereof ~ tho Same time
ana IN the Hamo manner M IL nHaeHaea
lhe property or the railroads, Hnd OF
telegraph telephone, express, HlrrplnH
,hf Hnd pipe llne companies N shall
Keep record ~ the assessments OF
huoh corporations me- mndo hy II ana
HhUll corllfy out ~ the several nHHoHHl
ora OF the Nluta the Valuations. nH do
lrlmlnol bY H. Of the property uf the
corporations mentioned I'm said section
HN or TINS Act The hhHpHaurH shall una
ter upon lhrlr books the HHHuHHmuntH Hd |
certified lu them IN the HtWn manner
nH they enter the assessments ur tho !
WllruudH und NJ telegraph, telephone
oNproah. nluoplug ear ana ppu llno |
companies
Horllon no. All corporations doing
business in this state except corpora |
tuhs whose property IA hsHpsspd hY the |
Arkansas IhN Commission ana the cor
nhratluhF required tU make and file |
tho special returns prescribed by. sec