756

LAWS OF MARYLAND.

and if said institution shall have made the agreement

as provided in this article, to the county commission-

ers or Appeal Tax Court, as the case may be, and

the amount of such stock so held shall be allowed

as a credit in the basis of settlement of the tax on

the capital stock or property of said incorporated in-

stitution ; but no credit shall be allowed to any such

incorporated institution by reason of any investment

on which the taxes are not so paid or payable as

aforesaid.

Propose to

SEC. 89. Whenever any of the corporations of this

make agree-
ment

State shall propose to the county commissioners or

Appeal Tax Court to make such agreement as pro-

vided by this article, and the county commissioners

or Appeal Tax Court, as the case may be, shall exact

and demand payment on an amount which said cor-

poration shall consider excessive, it shall and may be

lawful for such corporation to apply to the circuit

court for the county, or to the Superior Court of

Baltimore city, as the case may be, according to the

habetat of said corporation, by petition, in writing,

Petition.

verified by the affidavit of the president or other

proper officer of said corporation, showing the amount

of the capital stock of said company, agreeably to

the act of incorporation or any supplement thereto,

the number of shares into which said capital is di-

vided, and the par value of each share under the act

of incorporation, and the number of shares of the

said capital stock held by persons residing out of the

State, the number of shares held by persons in the

said county or city, and the number of shares held

by persons outside of said county or city and within

Statement

the State, and also a statement showing the assets of

said corporation in a general way, and the estimated

value of said assets; and upon the filing of said

petition and said statement, it shall be the duty of the

said court to appoint a day for the hearing thereof as

early as can conveniently be assigned for the pur-

pose, notice whereof shall be given to the county

commissioners or Appeal Tax Court, as the case may

be, by service of a copy of said petition and state-

ment, and of the order of said court ; and if the said

Controvert the
allegations

county commissioners, or said Appeal Tax Court,

shall controvert the allegations of said petition, then

the matters in issue shall be tried in the usual way

by a jury then and there to be empanelled, and either