The Sentinel=record., 1912-06-20


 | the aggregate value of the unpledged shares of stock outstanding. Said sum shali 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- tion shall pay the tax so assessed and shall have lien on the unpledged shares or stock outstanding on February st, the year the assessment is made. Tor the amount so paid. Any contract attempting to impose upon the pledged shares of stock ii a building and loan association any part of the tax 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 public utility corporation doing business in this State (except railroad. telegraph. tele- phone, express, sleeping ear and pipe line companies the assessment of whose property is otherwise provided for). shall. through it's president secretary or principal manager or officer, annu- ally. on February 1st make and file with the Arkansas Tax Commission a statement in which shall be distinctly set forth:
 1. The name and principal office of the corporation.
 ?. The total face value of all out standing common stock: the market, and 1T no market, the actual value Of same.
 ,. The total face value of all out standing preferred stock; the market, and if no market, the actual value of such stock
 4. The total outstanding bonds and other similar securities by whatever deed of trust on any part of the prop erty belonging to said company; the market, and if no market. the actual value of same.
 5. The assessed value of all real es tate belonging to the company
 The total of the second. third and fourth items less the fifth 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 incorporeal and intangible property, such as easements and franchises of every kind, except the right to be corpora tion; provided, that in the year 1911, the corporation 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 the first of July of said year.
 Section 29. 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 in the same manner as it assesses the property of the railroads. and of telegraph. telephone. express, sleeping car and pipe line companies 1t shah keep a record of the assessments of shall certify out to the several assees- ors of the State the valuations, as de- termined by it, 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 tire railroads and Of telegraph, telephone 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 16, 1S 19, 21 and 22 hereof, make and file with the assessor statement wherein shall be distinctly set forth:
 l. The name, location and principal office of the corporations.
 g. The number of shares of stock of said corporation outstanding and the face value of each share.
 3. The market value of each share, and if no market, the actual value of each.
 4. The aggregate actual value or
  all outstanding stock.
 5. The total bonds of the corpora 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.
 '. The value of all tangible personal property owned by the company and as- sessed under either section i6, 1s 19. 21. or 22 hereof.
 The sum of items four and five. less the sum of items six and seven, shall be held to be the vaiii5 of the intan- gible property of the corporation and shall be listed and assessed blythe cor poration as agent for it's shareholders under the heading 'Tntangible Prop erty.''
 Section 31. The corporations required to make the return provided for in section 30 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 30 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 s2. Each of the sta4ments required by sections 16. IT. 1S 19. 20. 21, 22, 25. 27, 2S and 30 of this Act must be subscribed and sworn to by the person making and filing same. Said oath shall be in the following form:
 "T "T,,,.... Fe-.......... Fe do solemnly 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 tor as....,.... ......,.....pj thSt each answer made By me in said statement is in every respect true that have valued each item of property at its true and full value Tn money; and that in fixing the value of said property have not taken same at an amount below it's true and full value in money because of the fact that I was assess ing said property for taxation"
 Section SS. 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- vidual on firm is claiming exemption is required to be listed as of that day the value of such bonds in money shall be dividea by twelve and the quotient 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 Februarv