1886 REVENUE AND TAXES. [ART. 81

shall be valued and assessed to the owner thereof in the assessment dis-
trict in which said owner may reside, except goods and chattels per-
manently located in any city or county of this State, which shall be
valued and assessed to the owner thereof in the city or county in which
they are so located. All rolling stock of all railroads worked by steam,
employed in operating and running over lines of railroad situated, being
and lying in this State, for the purpose of county and city taxation
shall be valued, assessed and taxed to the said railroads owning, hiring,
using and leasing the same as other personal property is valued,
assessed and taxed under the provisions of this article; and for the pur-
pose of such valuation, assessment and taxation, the situs of said roll-
ing stock shall be taken and considered to be in the assessment district
in which is located the principal place of business of such railroad com-
panies located in this State, unless it shall appear that the situs of such
rolling stock is in some other city or county of this State than that in
which the principal place of business of said railroad is located in this
State; provided, that whenever the said railroads owning, hiring or
leasing said rolling stock shall extend beyond the limits of this State
into any other State or States, the assessors or other tax officials whose
duty it shall be to assess said rolling stock under the provisions of this
section shall observe the following rule in ascertaining the assessable
value of said rolling stock; that is to say, the value of said rolling stock
for the purposes of taxation shall bear the same proportion to the total
value of said rolling stock which the mileage of said railroad in Mary-
land bears to its total mileage; this proviso is not to apply to such
rolling stock as is permanently located within the limits of this State.
In valuing the stock or shares in any bank, company, association or
corporation, the number of shares of such stock in such bank, company,
association or corporation owned by the persons to whom the same are
valued shall be stated together with the respective taxable value of
each, as ascertained by the state tax commissioner. Tn valuing bonds,
securities and other investments the nature of such bonds, securities
and other investments shall be briefly stated with the respective values
of each. In valuing and assessing any property in this State not
exempted from taxation under the laws thereof which is not specifically
mentioned in this article, the method pursued shall be that prescribed
by the laws of this State which are applicable to such property and
are in force where such valuation is made.*

*The re-assessment act of 1910. ch. 300 (p. 251), not having been passed as an
amendment of, or addition to, the public general laws, and being by its terms
inapplicable to Baltimore city and Worcester and Somerset counties, is omitted.
Moreover, sections 1 to 26 of the act of 1910, ch. 300, are of a temporary char-
acter, and presumably have been completely executed—see Anne Arundel County
v. Baltimore Sugar Refining Co., 99 Md. 490.

The sections of the general assessment act of 1896, ch. 120, which had been
completely executed were omitted from the code of 1904, as were also sections
173 to 192 of that act as therein numbered, prescribing the powers, etc., of asses-
sors, etc.. and declaring the duties of owners of property—see Anne Arundel
County v. Baltimore Sugar Refining Co., 99 Md. 490.