and undivided profits of such bank or banking associa

tion.

national bank

Sec. 9. The shares of the capital stock of banks Stick in organized under the laws of the United States, not lo- outside of State cated in this State, owned by residents of this State, are not subject to taxation.

not taxed.

porations to

Sec. 10. All taxes levied under the provisions of Banking corthis act upon the shares of stock of banking corpora- pay the tax. tions or associations must be paid by the corporation or association and the amount of any such tax paid may be retained and deducted by the bank out of the dividends upon the stock or out of any other funds of the stockholder then or thereafter in its hands and a paramount lien is hereby given to the bank against the stock upon which the tax is so paid to enforce the repayment or refunding of said tax; and no transfer or encumbrance of the said stock shall be made or permitted to be made by the bank, so long as the tax remains due and unpaid.

make state

Sec. 11. Every corporation doing a banking busi- Banks must ness in this State which is organized under the laws ment. of another State or of any foreign country, and every private banker, broker, or dealer in stocks, must make out and deliver to the assessor, when required to list personal property, a verified statement containing:

1. The amount of money on hand or in transit. 2. The amount of funds in the hands of other banks, brokers or others, subject to draft.

3. The amount of checks or cash items, not included in either of the preceding items.

4. The amount of bills receivable, discounted or purchased, and other credits due or to become due and amounts receivable.

5. All other property appertaining to said business, other than real estate, which real estate must be listed and assessed as other real estate is listed and assessed under this act.

6. The aggregate amount of all deposits made by other persons in his custody.

7. The amount of all accounts payable other than current deposit accounts, and such corporation, private banker, broker or dealer in such stock, shall be permitted to deduct from the credits the amount of his liabilities as provided in the sixth subdivision of section 4, and subdivision 6 of section 15 of this act.

The statement required in this section must be Average show

ing.

telegraph and

telephone franchises.

Other franchises.

shown to be derived from the books of entry and account ordinarily in use in the business of the person furnishing the statement and the amount shown therein must be an average of the corresponding amounts as shown by said books of entry and account for a period of ninety days next preceding the furnishing of such statement.

Sec. 12. All property and franchises, owned by Railway, depot, railroad, street railway, car, railway depot, telegraph and telephone companies in this State, must be assessed by the State Board of Equalization as hereinafter provided. Other franchises. if granted by the authorities of a county or city, must be assessed in the county or city within which they were granted; if granted by any other authority, they must be assessed in the county in which the corporation, firms or persons owning or holding them have their principal place of business.

Property to be assessed

where situated. Land in tracts.

taxable inhabitants.

Sec. 13.

All of the taxable property must be assessed in the county, city or district in which it is Situated. Land must be assessed in parcels or subdivisions not exceeding six hundred and forty acres each, and tracts of land containing more than six hundred and forty acres which have been sectionized by the United States government, must be assessed by sections or fractions of sections.

Sec. 14.

DUTIES OF ASSESSOR.

The assessor must before the first MonAssessor to list day of June in each year, ascertain the names of all taxable inhabitants and all property in his county, subject to taxation, except such as is required to be assessed by the State Board of Equalization, and must assess such property to the person by whom it was owned or claimed, or in whose possession or control it was at Date of assess- 12 o'clock m., of the first Monday of March, next preceding; Provided, That nothing herein shall be taken Assessing per- to prevent the assessor from assessing any personal liable to be property at any time before the first Monday in March in case he shall have cause to believe that the owner thereof is likely to avoid payment of the tax thereon by disposing of the property or by the removal thereof from the State.

ment.

sonal property

moved.

Mistakes do not

vitiate assess

ment.

No mistake in the name of owner, or supposed owner of property, renders the assessment thereof in

valid. Credits must be assessed as provided in section Assessing 4, subdivision 6.

credits.

require state

Sec. 15. He must require from each person except- Assessor to ing banking corporations and associations, private bank- ment. ers, brokers or dealers in stocks, a statement under oath, setting forth specifically all the real and personal property owned by such person, or in his possession or under his control at 12 o'clock m. on the first Monday of March. Such statement must be in writing, showing separately:

1. All property belonging to, claimed by, or in the possession or under the control or management of such person.

2. All property belonging to, claimed by or in the possession or under the control or management of any firm of which such person is a member.

3. All property belonging to, or claimed by, or in the possession or under the control or management of any corporation of which such person is president, secretary, cashier or managing agent.

4. The county in which such property is situated or in which it is liable to taxation, and (if liable to taxation in the county in which the statement was made) also the city, town, school district, road district or other revenue districts in which it is situated.

5. A statement of all lands in parcels or subdivisions, not exceeding six hundred and forty acres each and the sections and fractional sections of all tracts of land containing more than six hundred and forty acres, which have been sectionized by the United States government, improvements and personal property, including all vessels, steamers and other water crafts, and all taxable State, county, city or other municipal or public bonds, and the taxable bonds of any person, firm or corporation, and the deposited money, gold dust and other valuables, and the names of the persons with whom such deposits are made, and the places in which they may be found, all mortgages, deeds of trust, contracts and other obligations by which a debt is secured, and the property in the county affected thereby.

6. All solvent credits, secured or unsecured, due or owing to such person, or any firm of which he is a member, or due or owing to any corporation of which he is president, secretary, cashier or managing agent, deducting from the sum total of such credits only such debts, secured or unsecured, as may be owing by such

Statement of debt to be de

made under

oath.

person, firm or corporation; Provided, That mutual benefit building societies incorporated under the laws of this State, or of the Territory of Utah, shall be allowed to deduct from their taxable credits the amount due to the members (stockholders) of such societies.

No debt is to be deducted unless the statement shows the amount of such debt, as stated under oath in ducted must be the aggregate. Whenever one member of a firm or one of the proper officers of a corporation, has made a statement showing the property of the firm or corporation another member of the firm, or another officer, need not include such property in the statement made by him; but this statement must show the name of the person or officer who made the statement in which such property is included.

The fact that such statement is not required, or Omitting to re- that a person has not made such statement under oath. does not relieve or otherwise, does not relieve the property from taxa

quire statement

from taxation.

blanks to

assessor.

tion.

Sec. 16. The State Board of Equalization must State to furnish furnish the assessor of each county with blank forms of statements provided for in the preceding section. affixing thereto an affidavit, which must be substantially as follows: "I, do swear that I am a resident of the county of- -and that my postoffice address is :that the above list contains a full and correct statement of all property subject to taxation. which I, or any firm of which I am a member, or any corporation, association or company of which I am president, cashier, secretary or or managing agent. owned, claimed, possessed or controlled, at at 12 o'clock m. on the first Monday of March last, and which is not already assessed this year; and that I have not in any manner whatsoever transferred, or disposed of any property, or placed any property out of said county or my possession for the purpose of avoiding any assessment upon the same, or of making this statement; and that the debts therein stated as owing by me are justly due and owing to others." The affidavit to the statement on behalf of the firm or corporation must state the principal place of business of the firm or corporation, and in other respects must conform substantially to the preceding form. The time when taxes become delinquent, and the time of the meeting of the county board of equalization must be stated in such form.

blank form of

Sec. 17. The blank form of statement must be Delivery of furnished to the taxpayer by mail, or left at his resi- statement to dence or usual place of business or may be delivered taxpayer. to him personally. The assessor may fill out the statement at the time he presents it, or he may require the taxpayer, within an appointed time not less than 20 days to return the same to him, properly filled out. The assessor must, either in person or by mail, deliver to the person making the statement a copy of the same, if corrections are made showing such corrections.

Sec. 18. Every assessor has power:

1. To require any person found within such assessor's county to make and subscribe an affidavit respecting his property, giving his name and place of resi dence, and postoffice address.

Assessor has

power to reand subpoena

quire affidavit

witnesses.

2. To subpoena and examine any person in relation to any statement furnished by him, or which discloses property which is assessable in his county; and he may exercise this power in any county where the person whom he desires to examine may be found, but has no power to require such person to appear before him in any other county than that in which the subpœna is served. Every person who wilfully refuses to furnish the statement hereinbefore required, or to make and subscribe such affidavit respecting his name and place of residence, or to appear and testify when requested so to do by the assessor, as above provided, for each and every refusal, and as often as the same is repeated shall forfeit to the State the sum of one hundred dollars, to be recovered by action brought in the name of the assessor in any justice's court. In case Property in such affidavit shows the residence of the person mak ing the same to be in any county other than that in which it is taken, or the statement discloses property in any county other than that in which it is made, the assessor must, in the respective case, file the affidavit or statement in his office, and transmit a copy of the same, certified by him, to the assessor of the county in which such residence or property is therein shown to be. All moneys recovered by any assessor under the Forfeits to go to provisions of this section must, by him be paid into the treasury of his county.

another county

county treasury.

statement a bar

Sec. 19. If any person, after demand made by the Neglect of taxassessor, neglects or refuses to give, under oath, the payer to make statement herein provided for, or to comply with the to reducing asother requirements of this act, the assessor must note tion.

sessor's valua