The Birmingham age-herald., 1915-10-23


 | state of Alabama. and of the average 1 amount of merchandise and supplies kept | or carried on trains for sale or other l disposition for profit by such companies | to employees or other persons in this | state for the year next preceding the re- | turn.
 1 Sec. 109. If such return is not made on
 or before the first day of March of l each year, the state board of equalization l shall proceed to ascertain the items and values in the preceding section mentioned | from the best informant ton it can obtain. Sec. 110. Such board shall meet at it's | office in the state capitol annually on the 1 fiis st Monday in March, and shall there ! upon notify each person, firm or corpora | ton whose duty it is to make return l or report to such board. the days upon which the assessment of the various prop
 critics will be taken up and considered. | which day shall be not less than 20 days from said first Monday in March. l Upon the day fixed for the considera- 1 tion of said assessment, the owner of the 1 property to be that day assessed shall | have the right to appear in person or by agent, attorney or representative and be | heard.
 l Sec. Ill. If at any meeting the board | shall not have in it's possession sats- 1 factory data upon which to base esti- mate of the value of the property with | the assessment of which it is charged or l from any other cause is not able to make | or complete any assessment, it may ad- | journ for any interval of time which | may, in it's opinion. be requisite to ac- l complish it's object, and it shall have | power to call upon any officer or agent | of any person, firm or corporation, or | upon any receiver in charge of the prop | erty of any person, firm or corporation, l for any records. books, or documents of
 any description pertaining to the business l of such person, firm or corporation, or l for answers to any interrogatories which | 1t may deem necessary to an intelligent | discharge of its dutes and it shall also have power to require the attendance Of any officer of any corporation, or any 1 other person where the testimony of such officer or person may to it seem ma | terial.
 Sec. 112. The valuation of the property of all persons, firms or corporations re- quired by law to be assessed by said board shall be made upon the same prin- | ciples as the valuation of every other | species of property; that is to say, the
 valuation of such property shall be made l upon the consideration of what clear fee simple title thereto would sell for | under the conditions under which that | character of property Is most usually | sold and as evidence tending to show 1 what this would be the state board of l equalization shall ascertain as nearly 1 as it can and consider the average mar ket value of the stocks and bonds of said companies in the markets during the preceding months, and shall also take into consideration the estimated invest ments and valuation of said property as returned by athe duly authorized officers and agents of said companies to the rail road commission as a basis for the ad- justment of rates or charges for service to the public by such companies, and all 1 nf har i'm tn "a
 which they may obtain.
 Sec 11S The board shall proceed forth
 with to examine the returns made by all persons, firms and corporations required
 by law to so make the same, and also
 such information as the board may have
 obtained In addition thereto, and shall determine the valuation of the different | items of property required to be re-
 turned to it. and shall assess such prop
 erty for taxation at GO per cent of its reasonable cash value; and in case no re-
 turn has been made by on behalf of
 such persons. firms or corporations on
 or before the first Monday in March in
 each year, the board may add to the as-
 sessment which it makes against such
 person, firm or corporation penalty of
 not exceeding S per cent thereof The
 assessment herein required to be made
 shall be completed before the first day of | June, or as soon therea fter as practica- | ble.
 | Sec. 114 Whenever the state board of equalization shall have completed the as | sessment of the property of any person firm or corporation required by law to be
 assessed by such board, they shall give
 notice in writing by registered mall tc
 the owner officer, agent or attorney l making such return, giving notice tha
 the assessment of it's property has beer , completed, showing the total amount o such assessment.
 Sec. 115. If the owner of the property so assessed is dissatisfied with the ac , tion of said board, he may within 1, days from the receipt of said notice givt notice in writing to said board that ht ] demands an arbitration. giving at the , same time the name of his arbitrator . the board shall name it's arbitrator with
 in five days thereafter and these two
 shall select a third. a majority of whom
 shall fix the assessment on the property . on which the owner shall pay taxes ant 2 said award shall be final Said arbitra :, tors shall render their award within 2 : days from the date of the naming of tn, . arbitrator by said board, else the decision of said board shall stand affirmed anC :, shall be binding in the premises Be | fore entering upon a hearing, said arbi , traitors shall take an oath before an of !. ficer authorized to administer oaths tha = l they will faithfully and impartially mak a true and just valuation. equalization r and assessment of the property in ques ] ton at 60 pet cent of it's reasonable casl | value and will determine the matter z l submitted to them according to law an, I 1 the justice and equity of the case. II o all cases of arbitration between the stat
 board of equalization and the. owner O h | operator of any property as to the taxa " ble value of their said property. the stat a 1 board of equalization shall appoint on S ,Sl of the railroad commissioners to act d 4 arbitrator for the state in each case s and it shall be the duty of the said rail i l road commissioner, when thus appoint
 | ed, to perform the duties of arbitrato
 without any additional compensation. Tn
 1 person, firm or corporation demanding s the arbitration shall pay the arbitra "a tor named by him, and the compensatio , of the third arbitrator shall be born /, equally by the parties to the arbitration M Sec. 116. When the assessment of an h property required by law to be assesse " by the state board of equalization ha ' been completed and determined, eithe by arbitration or by the board and th
 | time to demand an arbitration has eS a pired, the board shall notify the tax as sessor of each county in which sue
 property so assessed shall be situated IL of the amount of such assessment i
 such county together with a general dt
 scription of the property so assessed e which he must enter in the book of as 'r sessments in addition to the assessmer l. of other real estate or personal property ,r to be assessed as other property of lilS l. lxind owned by private citizens of hi l. county, and the state board of equaliza gI tion shall alsN send to the owner or or B, orator of such property so assessed n copy of it's notification to the tax as