The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-03-16
LAW UNDER WHICH


s.A true aud correct statement n
account OF the actual expenditures OF
money and labor In extracting such
ore or mineral from the mine or min
crai lands and OF transporting the OF
mme To the mill or other treatment
or reduction or refinining works. the
cost Of the preparation, Treatment; re.
duction OF the same conversion there
OF into miney or itn equivalent.
G. Any other information which
may be required by the State al
Commisson and which would be OF
benefit or advantage TO such commls-
sion IN %acertaining the net value 81
auch production.
In order that all such facts no re-
aulrcd to be contained In such state
ment may DO accurately determined
and varined. u shah he tho duty ~ uch
person or corporation Co keep and pre-
serve at the mining place, or principal
Office, thereof In this State accurate
and permanent showing In
detail all and singular The various
Items u expense entering into the cost
of production. transportation. treat
mcnt, milling. refining and sales. and
also the mount realized from sale
of all and any portion OF uch mineral
and the product thereof and the State
Tax Commission shall have power 10
prescribe method Of keeping such
accounts.
Section 2. In making tho statement
NJ expenditures mentioned In the pre-
ccding section there shall not he in
cludcd therein any amounts expended
for machinery, or other improvements.
or appliances for such mining opera
ton or for improvements made for the
purposes Of reducing or refining such
mineral, or for the construction Of
mills or other reduction works, includ-
ing coke ovens. and washeries. or inn
pruvements made for Transporting
Of such mineral. hut all expenditures
made for any and all such improve
ments structures. buildings. or other
facilities shall be considered NJ part Of
the capital recount OF such mining OPP
eratiuns and as no part 81 the operat-
ing expense thereof. Such expendl-
lures shall not include the salaries. or
amy portion thereof. Of any person, or
officer. not actually engaged In the
working Of such mine. or In the reduc-
ton. transportation. sale or refinement
of such mineral, or personally super
intending the management thereof.
Section T. The State Tax Commits
sion must. al its meeting commencing
on the LIST Monday OF February. from
such statement or such other informa.
tion as u ran procure. determine the
not value in dollars. Of the output "
each Of such mines during the
previous calendar year. and before the
FIRST Monday % March. certify such
valuation thereof to the Board Of
County Commissioners of the counties
In which such mines are respectively
situated. and the amount Of said valu-
alton shall he taken and considered,
and assessed us In lieu of the assess
able value Of the minera In such mine,
mining claim or claims, or mineral
land from which. or n portion OF
which. such mineral shall hav been
extracted. and also In lieu Of the min
cral values In any and all other con
~tigucus lands held or owned In the
same right by the person or corpora
ton 80 taxed Tor the future extension
of such mining operation thereto: and
such net value 81 said mineral 80 cN-
tructcd shall be- taxed az the same rate
as other properties are taxed In the
county and other subdivision In which
such mine IL situated. and the taxes
levied therein shal' he considered as
taxes upon such mineral values In said
lands.
By tho met value 81 mineral out.
Put. as such term ls herein used. IL
meant the difference between the nc-
tunl cost 81 production, transportation
treatment. shipment n snlc of same
including coke made from coal. and
the realized. II sold, or which
would be realized at the time Of max
ing sue report d. tho sale OF the same
not 20 DE less, however. In either
event. than he true market value
thereof Upon receipt of such certif'
icute II shall be the duty Of the BOARD
uf County Commissioners 81 zach
county to cause the taxes upon such
valuations Co be assessed and levied al
the rates fixed for the current veal
and entered upon the assessment rol
for said county against the respective
pcryous or corporations 50 liable fol
such taxes and the same shall be pay,
able In full To the county treasurer OF
said county on or before the first day
Of June Of the year 1910 and each year
thereafter, and II not 80 paid shall be.
come delinquent on the urst dag Of Ju.
~ OF said year and from that date H.
able 10 the came penalty and intcres
as other delinquent axes.
Section 3. The State Tax Commits
sion may at any time examine. %
cause tn be examined, 10y any Of ~
members. or hy its secretary or any &C
countnnt In the employ Of said com
mission. the records and accounts al
any person. corporation or association
specified In this act as the same ma!
pertain 10 the yield Of ore or othe
mineral products from any mining op
erection carried on In this state. or IN
cost Of liz reduction, transportation
treatment. refinement. and Of the mar
kcting thereof. and n other OF tn
costs In any way entering into tn
same. or M part thereof. and IN
amounts realized from the sale or 9th
or disposition thereof, In order to yer
IS the statement made by such person
corporation or association.
No information derived from an.
examination Of the books. records o
accounts, OF n person, company o
association, operating any such mine
made pursuant Ia his act hy tho Ia
Commission or anyone acting for II
shall be disclosed by any member, Of
Ha.V or uaraFaV 80 uttHH. Com s.F.ul.U. -