the real estate and personal property, including moneys, creditsand investments belonging to said corporation; that the value affixed to such property is in my opinion, its true and actual value,. by which I mean the price at which it would sell if voluntarily offered for sale on such terms as are usually employed in selling such property, and not the price which might be realized at a forced or auction sale; and said corporation has not, to my knowledge, since the first day of the assessment year converted any of its assets into non-taxable securities for the purpose of evading the assessment of taxes thereon; so help me, God.

The officer administering said oath shall append thereto the following certificate, viz.:

"Subscribed and sworn to before me by

Provided, that no such company shall be required to furnish the list and value of its real estate, as above provided, before the year one thousand nine hundred and nine.

Sec. 78. Upon receiving the verified report required by the preceding section, the assessor, if satisfied with the correctness thereof, shall assess the value of all the property of such corporation liable to taxation, and enter the same as follows, viz: All the property in item (e) shall be entered with its valuation in the land books of the county, and in the magisterial district in which the real estate is situated; all property mentioned in items (c) and (d) shall, together with their valuation, be entered in the personal property book of the county, and in the magisterial district wherein is the principal office or chief place of business of such corporation, under the appropriate heads; and all property mentioned in item (f) shall, together with its valuation, be entered in the personal property book of the county, and in the magisterial district wherein said property is on the first day of the assessment year; the property mentioned in items (c), (d), (e) and (f) shall constitute all the property on which any such corporation shall be liable to pay taxes. If a company have branches, each branch shall be assessed separately in the county and magisterial district where its principal office for transacting its financial concerns is located; or, if there be no such office, then in the magisterial district where its operations are carried on. All locks and dams of navigation

companies shall be assessed and taxed as real estate in the county and magisterial district wherein they are situated; and in case such locks and dams are located on any creek or river which is the dividing line between counties, or the dividing line between magisterial districts of the same county, one-half of the value thereof shall be assessed in each of said counties or magisterial districts, as the case may be; when the property of an incorporated company is assessed as aforesaid, no individual shareholder therein. shall be required to list or be assessed with his share, portion or interest in the capital stock of such corporation.

Sec. 79. The shares of stock in a bank, trust company or national banking association, shall be assessed at their true and actu- . al value, according to the rule prescribed in section twelve of this chapter, to the several holders of such stock in the county, district and town where such bank, company or association, is located, and not elsewhere, whether such holders reside there or not, and no deductions shall be allowed from the valuation of such shares of stock on account of what is due another as principal debtor or otherwise, notwithstanding the provisions of any other section or sections of this chapter; the real and actual value of such shares shall be ascertained according to the best information which the assessor may be able to obtain, whether from any return made by such bank, company or association to any officer of the state or United States, from actual sales of the stock, from answers to questions by the assessor as hereinafter provided, or from other trustworthy sources; the cashier, secretary or principal accounting officer, of every such bank, company or association, shall cause to be kept a correct list of the names and residence of all the shareholders therein, and the number of shares held by each, which list shall be open to the inspection of the assessors of the county, and of the state tax commissioner or assistants; and such cashier, secretary or officer shall answer under oath such questions as the assessor may ask him concerning the matters shown by said list, and concerning the value of said shares, and shall be subject to the same penalties, for failure to do so, which are imposed by law upon individuals failing to answer questions which the assessor is authorized to ask; the taxes so assessed upon the shares of any such bank, company or association shall be paid by the cashier, secretary or proper accounting officer thereof, and in the same manner and at the same time as other taxes are required to be paid in such coun

ty, district and town; in default of such payment such cashier, secretary or accounting officer as well as such bank, company or association shall be liable for such taxes, and, in addition, for a sum equal to ten per centum thereof. Any taxes so paid upon any such share may, with interest thereon, be recovered from the owners thereof by the bank, company, association or officer paying them, or may be deducted from the dividends accruing on such shares. The real estate of any such bank, company or association shall be assessed as in other cases, and a proportionate share of such assessed value shall be deducted in ascertaining the market value. of the shares. The return shall be made as of the first day of the assessment year.

Sec. 80. The value of the capital used by any individual or firm not incorporated, in any trade or business taxable by law, shall be ascertained in the following manner: The owner, agent, or chief accountant of every such trade or business, except the business of agriculture, carried on in any county of the state, shall, annually, between the first day of the assessment year, and the first day of June of the current year, make a written report as of the first day of the assessment year, to the assessor, verified by his affidavit, showing the following matters and things, viz:

(a) The amount and the true and actual value of all tangible personal property used in connection with such trade or business, otherwise such as is regularly kept for sale therein, including chattels real;

(b) The true and actual value of all goods and property kept for sale and remaining unsold;

(c) The amount of all money derived from or belonging to such trade or business, on hand or remaining uninvested on that day, whether in or out of the state, payable to such individual or firm;

(d) The amount in value of all credits arising out of any such business and remaining unpaid on that date, whether due or not, and whether in or out of the state;

(e) The amount and true and actual value of all investments made by such person or firm whether in or out of the state, other than those hereinbefore specified;

(f) The location, quantity, and the true and actual value of all real estate owned by such individuals or firm and used in such trade or business.

And in case such individual or firm desires to have indebtedness deducted from money, credits and investments, it shall also include in said reports;

(g) An itemized statement such as is provided for in section sixty-seven of this chapter, and all the provisions of said section sixty-seven shall apply to said statement so far as they are applicable; which statement shall be verified by such owner, agent or chief accountant substantially in the form required for individuals in said section sixty-seven.

The assessor shall, upon the receipt of such report, properly verified, if he is satisfied with the correctness thereof, enter the real estate in the land book of the county in the district wherein the same is situated, and assess the same with taxes, if not otherwise assessed, to the owner thereof; the personal property mentioned in said report he shall enter in the personal property book of his county and assessed with taxes as follows, viz: item (a) and (b) shall be entered in the magisterial districts where they are for the greater part of the year kept or located; and items (c) and (d), (e) and (g) shall be entered under their appropriate heading, in the town or magisterial district wherein the principal place of business of said individual or firm; if the assessor is not satisfied with the correctness of said report he may proceed to ascertain a correct list of the property on which said individual or firm is liable to be assessed with taxes, and to value the same as in other cases; the person making such report shall take and subscribe an oath in substantially the following form:

“I .... do solemnly swear (or affirm) that the foregoing list is true and correct to the best of my knowledge; that the value affixed to the property therein listed I believe to be the true and actual value thereof, by which I mean the price at which said property would sell if voluntarily sold on such terms as are usually employed in the sale of such property, and not the price which might be obtained if sold at a forced or auction sale; that none of the assets belonging to (here state the name of individual or firm) and used in the business of (here describe the business) have to my knowledge, since the first day of the assessment year, been converted into non-taxable securities for the purpose of evading the assessment of taxes thereon; so help me, God.

The officer administering said oath shall append thereto the following certificate, viz.:

"Subscribed and sworn to before me by (here insert affiant's name) this .... day of 19....

......

Provided, that no such individual or firm shall be required to furnish the list and value of its real estate, as above provided, before the year one thousand, nine hundred and nine; but it shall state its true and actual value in each year thereafter.

Sec. 81. Any such person or firm, as is mentioned in the preceding section or as is mentioned in sections seventy-seven, seventyeight and seventy-nine of this chapter, desiring to commence business after the beginning of the assessment year in any year, shall give notice thereof to the assessor of the proper county, accompanied with sworn statement of the amount of capital invested or intended to be invested by such person or firm in such trade or business during the remainder of the year; it shall be the duty of the assessor, upon receipt thereof, to enter the same in his personal property book under the appropriate heading, and extend the taxes to be paid thereon; but if at the time of receiving such sworn statement his personal property book shall have been completed and certified he shall enter the amount of such capital in a supplement to the copy of his personal property book, to be retained by him, and extend the taxes thereon. He shall also certify such entry to the auditor and clerk of the county court, whose duty it shall be to make a like entry thereof in a supplement to the copies of the personal property book filed in their respective offices.. When any personal property employed in any trade or business is assessed under the provisions of this and the preceding section, the owner shall not be required to list the same otherwise, nor shall it be otherwise assessed to him. All personal as well as real property, not so assessed to such person or firm, shall be assessed as other like property is required by law to be assessed. Sec. 86. In the case of any bridge upon which a separate toll or fare is charged, such return shall show:

(a) The location of the same;

(b) For what used; and if used by a railroad, what railroad uses it;

(c) The length of such bridge; and, if used by a railroad, the number of tracks on it;