ART. 81] STATE TAX COMM1SSIONER. 1863

business therein, and of every joint stock company doing business in
this State shall furnish to the comity commissioners of each county in
which such bank or other incorporated institution or joint stock com-
pany shall own or possess any real property, and to the appeal tax court
of Baltimore city, if such bank or other incorporated institution or
joint stock company shall own or possess any real property in said
city, a true statement of such real property situated or located in
such county or city, and such real property shall be valued and assessed
by said county commissioners and appeal tax court, respectively, to the
said bank or incorporated institution or joint stock company so owning
the same, and the said county commissioners and appeal tax court shall
give duplicate certificates of such valuation and assessment to such pres-
ident or other officer, who shall transmit one of such duplicate certifi-
cates with his return to the state tax commissioner, and state, county
and city taxes shall be levied upon and paid by such bank or other
incorporated institution or by such joint stock company on such assess-
ment in the same manner as the same are levied upon and paid by
individual owners of real property in such county or city; the respective
taxable value of the shares of stock in such bank, corporation and joint
stock companies shall be ascertained by the state tax commissioner in
the manner following: He shall deduct the assessed value of such real
property belonging to the said respective banks, corporations or joint
stock companies from the aggregate value of all shares of such respec-
tive banks, corporations or joint stock companies and divide the remain-
der by the number of shares of the capital stock or shares of such respec-
tive banks, corporations or joint stock companies and the quotient shall
be the taxable value of each of such respective shares for State purposes,
and all state taxes thereon shall be paid as provided now or hereafter
by law, and when the valuation aud assessment of the shares of the
capital stock or shares of such banks, corporations or joint stock com-
panies shall have been finally determined or made for State purposes,
the state tax commissioner shall certify to the county commissioners of
each county where any of the stockholders or shareholders may reside,
and to the appeal tax court of Baltimore city, if any of said stockholders
or shareholders reside in said city, and to the county commissioners of
the county in which such bank, corporation or joint stock company is
situated, or to the appeal tax court of Baltimore city, if it is situated in
said city, the assessed taxable value of such respective shares of stocks,
or shares so ascertained as aforesaid. And the said taxable value of
such repective shares of stock or shares in such banks, corporations or
joint stock companies, owned by residents of this State, and taxable
within this State, shall for county and municipal purposes be valued to
the owner thereof in the county or city in this State in which such own-
ers shall respectively reside, and the said taxable value of such of said
stock or shares as are held by non-residents of this State shall for county
and municipal purposes be valued to the owners thereof in the county or
city in which said bank, corporation or joint stock company is situated ;
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