the Comptroller; and in the settlement of the State taxes upon the shares of capital stock of such corporation, the Comptroller shall calculate the State tax on such shares of capital stock, and also what would be the State tax on the said stock debts of the State and City of Baltimore, so reported as aforesaid, and the latter amount shall be allowed such corporation as a credit on its bill for State taxes; and the State Tax Commissioner shall also report the assessed value of said stock debt of the City of Baltimore to the City Collector of Baltimore City, and, in order to ascertain the city tax, payable on the shares of capital stock of such corporation to the City of Baltimore, the City Collector shall deduct from the assessed value of the shares of stock of such corporation, taxable in the City of Baltimore, bear to the total outstanding taxable shares of stock debt of the City of Baltimore, so reported as aforesaid, as the shares of stock of such corporation, taxable in the City of Baltimore, bear to the total outstanding taxable shares of stock of such corporation, and the city tax calculated upon the residue shall be the true amount of taxes payable to the City of Baltimore on shares of capital stock of such corporation; and in case of any shares of any bank or other corporation of this State upon which the State and county or city taxes are levied and paid; or are payable, by such bank or other corpora tion, being owned as aforesaid, by any corporation having a capital stock divided into shares as an investment of any part of its capital or surplus, the State Tax Commissioner, in assessing the shares of such corporation, shall deduct the value assessed according to the laws of this State, of said shares of said bank or other corporation of this State so owned and reported as aforesaid, from the aggregate value of all the shares of such corporation, in addition to and in the same manner as the assessed value of real estate owned by such corporation is deducted under the provisions of Section 162; but no credit shall be allowed under this section to any such corporation by reason of any investments on which the taxes are not paid or payable as aforesaid; nor by reason of the ownership by said corporation or corporations of the stock debt of the City of Baltimore issued after April 3, 1906, under the loans authorized by Chapters 274, 338 and 349 of the Acts of the General As sembly of Maryland for 1904, known as the "Annex," "Park Extensions" and "Sewer Loans," respectively, or any other loans that may have been authorized since April 3, 1906, or that may be hereafter authorized by the General Assembly of Maryland; provided, that the provisions of this section shall apply to the ownership by any such corporation of Baltimore City burnt district loan stock, issued under Chapter 468 of the Acts of 1904, the water loan, issued under. Chapter 333 of the Acts of 1902, and the conduit loan, issued under Chapter 246 of the Acts of 1902, whether heretofore or hereafter issued; nor shall such credit be allowed in any case where the officer making such return for such corporation shall fail to state in such return that said investments are owned by the corporation of which he is such officer, and are not held by such corporation as a security for any loan or as a collateral security for any payment or other purpose. Ibid. sec. 161. * 1888, art. 81, sec. 143. 1882, ch. 342. 164. The president, or other proper officers of every corporation actually engaged in the business of manufacturing in the City of Baltimore, or in any county where the tools and machinery of manufacturers have been exempted from county taxation, in addition to the return provided to be made by the preceding Section, shall furnish to the Appeal Tax Court of Baltimore City, or to the County Commissioners of each such county, a true statement of the mechanical tools, whether worked by hand or by steam, or other motive power, and of any machinery, manufacturing apparatus, or engines owned by such corporation and actually employed and used in the business of manufacturing in said city or county; and the property so returned shall be valued and assessed by said Appeal Tax Court or by the County Commissioners; and the said Appeal Tax Court or County Commissioners shall give duplicate certificates of such valuation to such president, or other officer, who shall transmit one of such certificates, with his return, to the State Tax Commissioner; and the State Tax Commissioner, * See Article 23, sections 88A to 88F, and general note to Article on "Revenue and Taxes." in addition to the valuation which he is required to make for State taxation, shall make a further valuation of the stock of said corporation by deducting from the value of each share, as assessed for State taxation, the proportionate amount of the value of tools and machinery, as assessed by the said Appeal Tax Court or County Commissioners; and the valuation of the shares thus determined shall be that all shares taxable in the City of Baltimore for city taxes, if the said corporation is lo cated in Baltimore City, or for the county taxes if the county wherein the corporation is located has exempted manufacturer's tools and machinery from taxation; provided further, that the County Commissioners of any county shall by resolution determine by a vote of its members whether there shall be in their respective county the exemption of the tools, machinery, manufacturing implements and engines of corporations, firms and individuals actually engaged in manufacturing, and duly certified to the State Tax Commissioner of Maryland; and the Mayor and City Council of Baltimore shall by ordinance determine whether the tools, machinery, manufacturing implements and engines of corporations, firms and individuals actu ally engaged in manufacturing within the City of Baltimore shall be exempt from taxation; and wherever no determination has been made and duly certified to the State Tax Commisioner, then and in that case, the tools, machinery, manufacturing implements and engines of corporations, firms and individuals actually engaged in manufacturing, shall be required to pay all taxes assessed against said property.* 1904, art. 81, sec. 162. 1888, art. 81, sec. 144. 1878, ch. 178, sec. 152. 165. As soon as the State Tax Commissioner shall have valued and assessed the shares in the several banks and other corporations in this State he shall certify and return the said valuation to the Comptroller of the Treasury, who shall at once proceed to notify the president, cashier or other proper officer of such banks or other corporations of the said valua tion and assessment of their shares, respectively, by trans 162. Power Co. vs. Havre de Grace, 102 Md. 33. See note to Article 81, section This section as amended in 1914 was supplemented by a section not herein incorporated, namely, that this Act shall not affect any assessment levied or to be levied prior to the year 1915. mitting to such president or other officer an account of the State taxes due from such bank or other corporation under such valuation and assessment, by mail under cover, fairly directed to such president or other officer, and shall note in a book the date of placing in the mail the envelope or cover containing such account. If no appeal be taken within thirty days. from such transmission the said valuation and assessment shall be final; but any such bank or corporation may, within thirty days after such notification, appeal from such valuation to the Comptroller of the Treasury and State Treasurer, stating in such appeal the reasons and grounds of such appeal; and said Comptroller and Treasurer shall consider the same, and if the Comptroller and Treasurer shall both be of the opinion that such valuation and assessment so made by the State Tax Commissioner is erroneous and ought to be changed, they shall change the same accordingly and the valuation and assessment so agreed upon by the Comptroller and Treasurer shall be final; but if either the Comptroller or Treasurer shall agree with the State Tax Commissioner as to the correctness of the valuation so made by him, then such appeal shall be dismissed, and the original valuation shall be and remain as the true valuation of such shares. Increase of Assessment. 1904, art. 81, sec. 163. 1888, art. 81, sec. 145. 1884, ch. 260. 166. Before increasing the assessment of any property which has heretofore been assessed, or adding any new property not valued and returned to them by the proper assessor or collector, it shall be the duty of the County Commissioners or Appeal Tax Court, as the case may be, to notify the owner of such property by a written or printed summons, containing such interrogatories in regard to such property as they may require to be answered on oath, and appointing a certain day for such owner to answer such interrogatories, either orally or in writing, and make such statement, or present such proof as he may desire in the premises; and such notice shall be served on such owner, or left at his place of abode at least five days before the day of hearing appointed in such summons; and such owner may answer such interrogatories contained in such summons, and may appear on such return day and answer the same under oath, orally, before such County Commissioners or Appeal Tax Court, and may present such testimony as he may desire, and such County Commissioners or Appeal Tax Court may think necessary and proper to be heard; and in case such owner after being summoned shall fail to answer in writing on oath, or to appear and answer orally such interrogatories, such County Commissioners or Appeal Tax Court after such return day has passed, may proceed to revalue and reassess such property, or add such new property, according to their best judgment and information in the premises; but no such revaluation and reassessment shall be made by such notice; provided, that nothing in this section shall be construed to apply to the valuation and assessment of new improvements or new property discovered and assessed and returned to the County Commissioners or Appeal Tax Court by the proper collector or assessor whose duty it is to assess and return the same. Tax on Gross Receipts of Certain Corporations. 1904, art. 81, sec. 164. 1888, art. 81, sec. 146 and 153. 1872, ch. 234. 1874, ch. 408. 1880, ch. 559. 1896, eh. 120, sec. 146. 1906, ch. 712 167. A State tax or a franchise tax is hereby levied annually upon the gross receipts of all railroad companies whose roads are worked by steam power, incorporated by or under the authority of this State or any other State, territory, District of Columbia or foreign country, and doing business in this State, such State tax being as follows, to wit: One and one-quarter per centum on the first $1,000 per mile of gross earnings, or on the total earnings if they are less than $1,000 per mile, and two per centum on all gross earnings above $1,000 and up to $2,000 per mile; and when the earnings exceed $2,000 per mile and two and one-half per centum on all earnings above that sum; a State tax, as a franchise tax of two and one-half per centum upon the gross receipts or earnings of every telegraph or cable, express or transportation, parlor car, sleeping car, safe deposit and trust company, incorporated under any general or special law of this State, and doing business therein; a State tax as a franchise tax of two per centum is hereby levied an nually upon the gross receipts or earnings of all telephone and |