CAPITAL USED IN TRADE OR BUSINESS BY MERCHANTS AND OTHER INDIVIDUALS OR FIRMS.

65. 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 manner following: the assessor shall ascertain from every such individual or firm, or from some member or agent of such firm carrying on any trade or business, except agriculture, within his assessment district, the actual value of the capital employed by him or them in such trade or business. Such person or firm shall state:

First. The actual amount of cash capital invested in such trade or business on the first day of January in each year.

Second. The amount and value of all personal property used in connection with such trade or business otherwise than such as is regularly kept for sale therein.

Third. The value of all goods and property kept for sale and remaining unsold on the first day of January, except as provided in the sixty-eighth section of this chapter.

Fourth. The amount of all money derived from such trade or business remaining uninvested on that day, whether in or out of the State.

Fifth. The amount and value of all debts and claims arising out of such trade or business and remaining unpaid on that day, whether in or out of the State, deducting therefrom any debts created in course of such trade, or business, which such person or firm owes as principal debtors.

Sirth. The amount and value of all investments made by such person or firms, whether in or out of the State, other than those hereinbefore specified. Any such person or firm desiring to commence business after the first day of January, in any year, shall give notice thereof to the assessor of the proper district, accompanied with a 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. And it shall be the duty of such assessor, upon the receipt thereof, to assess the amount of such capital with the taxes payable thereon, and certify the same to the sheriff of the county for collection. He shall, at the same time, transmit to the auditor a duplicate of the said certificate, and upon the receipt thereof the auditor shall charge the sheriff with the amount of State taxes therein specified. The assessor shall also, on or before the day on which the county levies are laid, certify to the county court of the county the amount of all taxes assessed by him in said last mentioned cases for county and district purposes. When any personal property employed in any trade or business is assessed under the provisions of this section, the owner shall not be required to list the same otherwise, nor shall it be otherwise assessed to him. But all personal as well as real property not so assessed to such per

son or firm, shall be assessed as other like property is required by law to be assessed.

RECEIVERS, COMMISSIONERS AND CLERKS OF COURTS.

66. He shall ascertain from each person in his district, who acts under the order of any court as receiver or commissioner, the amount of all money and bonds, or other evidences of debt, under his control, and the style of the suit to which such fund belongs, and from the clerk of such court, the amount deposited by order of such court in any bank or saving institution, to the credit of any suit in such court, and the style of such suit. The cashiers of all banks in this state shall, under oath, furnish to the assessors a list of all moneys held by such banks and the holder thereof, for which certificate of deposits bearing interest have been issued by said banks, and the assessor shall assess the same to the person named in said list; Provided, That said deposits is liable to be assessed under this chapter. And provided further, That the sum so deposited has not already been returned by the owner thereof.

TAXATION OF RAILROAD CORPORATIONS, &c.

67. (Acts 1883, p. 73.) The president, vice president, secretary or principal accounting officers of any corporation or company owning or operating a railroad, or railway, wholly or in part within this state, for the transportation of freight, or passengers, or both, for compensation, shall make a return in writing to the auditor on or before the first day of April in each year, which shall be signed and sworn to by one of said officers, showing in detail the following particulars for the year ending on the thirty-first day of December next preceding, viz:

First, The whole number of miles of railroad owned, operated or leased by such corporation or company within this state.

Second. If such road so owned, operated or leased by such corporation or company be partly within and partly without this state, the whole number of miles thereof within this state, and the whole number of miles without the same, including its branches in and out of the state.

Third. Its railroad track in each county in this state through which it runs; giving the whole number of miles of road in the county, including the track and its branches, and side and second tracts, switches and turnouts therein, and the fair cash value per mile of such railroad in each county, including in such valuation such main track, branches, side and second tracks, switches and turnouts.

Fourth. All its rolling stock; giving a detailed statement of the number of cars, including passenger, mail, express, baggage, freight and other cars of every description, and the fair cash value of all such cars used wholly, or in part, in this state, distinguishing between such as are used wholly in this state and

such as are used partly within and partly without the state; the whole number of engines, including their appendages used wholly or in part within this state, distinguishing between such as are used wholly within this state and such as are used partly within and partly without the same, and the fair cash value of such as are nsed wholly within the state, and such as are used partly within and partly without the state; and the proportional value of such cars, and engines used by it partly within and partly without the state, according to the time used and the number of miles run by such cars and engines in and out of the state; and the proportional cash value thereof to each county in this state within which such railroad runs.

Fifth. Its depots, station houses, freight houses, machine and repair shops and machinery therein, and all other buildings, structures and appendages connected thereto or used therewith, together with all other real estate other than its railroad track, owned or used by it in connection with its railroad, and not otherwise taxed, including telegraph lines owned or used by it, and the fair cash value of all buildings and structures, and all such machinery and appendages, and of each parcel of such real estate, including such telegraph line, and the cash value thereof in each county in this state in which it is located.

Sixth. Its personal property of every kind whatsoever, including money, credits and investments, wholly held or used in this state, showing the amount and value thereof in each county.

Seventh. Its actual capital stock and the number, amount and value in cash, of the shares thereof; the amount of its capital stock actually paid in; the total amount of its bonded indebtedness, and of its indebtedness not bonded; its gross earnings for the year, including its earnings from its telegraph lines, which shall be stated separately, on the whole length of its road, including the branches thereof, in and out of the state, and also such earnings within this state on way freight and passengers, and the proportion of such earnings in this state on through freight and passengers carried over its lines in and out of the state, to be ascertained by the number of miles the same were carried by it within and the number of miles without the state. Eighth. Its gross expenditure for the year, giving a detailed statement thereof under each class or head of expenditure. If any corporation or company fail to make such return to the auditor as herein required, it shall be guilty of a misdemeanor and fined one. thousand dollars for each month such failure continues. Prosecutions for such failure shall be in the county wherein the seat of government is. If such return be made to the auditor, he shall lay the same, as soon as practicable thereafter, before the board of public works, and if such return be satisfactory to the board it shall approve the same, and by an order entered upon its records, direct the auditor to assess the property of such corporation or company, with taxes, and he shall thereupon assess the same as hereinafter provided. But if such return be not satisfactory to the board, or if

any such company fail to make such return as herein required, said board of public works shall proceed in such manner as to it may seem best to obtain the facts and information required to be furnished by such return; and to this end the said board may send for persons and papers, and may compel the attendance of any person and the production of any paper necessary, in the opinion of said board, to enable it to obtain the information desired for the proper discharge of its duties under this section. Any expenses necessarily incurred by said board in procuring such information shall be paid by the governor out of the contingent fund. If.any person shall refuse to appear before said board when required by it to do so, as aforesaid, or shall refuse to testify before said board in regard to any matter as to which said board may require him to testify, or if any person shall refuse to produce any paper in his possession or under his control, which said board may require him to produce, every such person shall be guilty of a misdemeanor, and fined five hundred dollars and shall be imprisoned not less than one nor more than six months, at the discretion of the court. Prosecutions against any such person shall also be in the county wherein the seat of government is. As soon as possible after the board of public works shall have procured the necessary information to enable it to do so, said board shall proceed to assess and fix the fair cash value of all the property of said corporation or company herein before required to be returned by it to the auditor, so far as the said board has been able to ascertain the same, in each county through which the railroad of any such corporation or company runs. taining such value the board shall consider any return which may have been previously made to the auditor by such corporation or company, and all the evidence and information it has been able to procure by the means aforesaid, and all such as may be offered by such corporation or company. And the decision of said board thereon made shall be final, unless the same be appealed from within thirty days after such decision comes to the knowledge of the president, vice-president, secretary, or principal accounting officer, or the attorney of such corporation or company transacting business for it in the county wherein the seat of government is, in the manner following. Any corporation or company claiming to be ag grieved by any such decision, may within the time aforesaid, appeal therefrom as to the assessment and valuation made within each county through which its road runs, to the circuit court of such county; and such appeal shall have precedence over all other cases on the docket of such court, and be tried in the shortest time possible after such appeal is docketed. The court shall hear all such legal evidence on such appeal as may be offered by the State, county, district or municipal corporation, and by the corporation or company taking such appeal. And if the court be satisfied that the value so fixed is correct, it shall confirm the same; but if it be satisfied that the value so fixed by said board is either too high or too

low, the court shall correct the valuation so made and ascertain and fix the true value of such property according to the facts proved, and certify such value to the anditor. In case the lists and valuations of the property filed with the auditor as aforesaid, be satisfactory to the board of public works, and in cases where an assessment of the property of such company is made by the board of public works as aforesaid, the auditor shall immediately certify to the county court of each county through which such railroad runs, the value of the property therein of every such company as valued or assessed as aforesaid, and it shall be the duty of such court to apportion the whole of such value between such districts and independent school districts in their county through which said road runs, as near as may be according to the value thereof, and then a proportional valuation to each municipal corporation in their county through which said road runs according to the value thereof. It shall be the duty of the clerk of the county court of every county through which any railroad runs, within thirty days after the county and district levies are laid by such court, to certify to the auditor the apportionment made by the county court as aforesaid, and the amount levied upon each one hundred dollars value of the property in the county for county purposes, and on the value of the property in each magisterial district through which such railroad is located, for district purposes. It shall also be the duty of the secretary of the board of education of every school district and independent school district through which the railroad runs, in each county, within thirty days after the levy is laid therein for free school and building purposes, or either, to certify to the auditor the amount so levied on each one hundred dollars value of the property therein for each of said purposes; and it shall be the duty of the recorder, clerk or other recording officer of every municipal corporation, through which such railroad runs, within the same time after a levy is laid therein for any of the purposes authorized by law, to certify to the auditor the amount levied upon each one hundred dollars value of the property therein for each and every purpose.

Any clerk of a county court, secretary of a board of education, or recorder, clerk or other recording officer of a municipal corporation, who shall fail to perform any of the duties herein required of him shall be guilty of a misdemeanor, and fined not less than one hun

dred

nor more than five hundred dollars. In case of the failure of any such officer to furnish to the auditor the certificate herein required, the auditor may obtain the rate of taxation for any of said purposes from the copies of the land books on file in his office, if the same be found in such books, and if not, in such other way or manner as he may deem necessary or proper for the purpose. As soon as possible after the value of the property of such corporation or company is fixed by the board of public works, or by the circuit court on appeal as aforesaid, and after he shall have obtained the information herein provided for to enable him to do so, the auditor