ART. 81] STATE TAX COMMISSIONER. 837

1904, art. 81, sec. 159. 1888, art. 81, sec. 141. 1878, ch. 178. 1880, ch. 20.
1896, ch. 120. 1914, ch. 197. 1914, ch. 528.

162.* At the time of making the returns of stockholders to the
County Commissioners and appeal tax court of Baltimore City, as
required by law, the President or other proper officer of every bank
or other incorporated institution incorporated under the laws of this
State or doing business therein, and of every joint stock company doing
business in this State shall furnish to the County Commissioners of
each County in which such bank or other incorporated institutions or
joint stock company shall own or possess any real property and tools,
machinery, manufacturing implements and engines of corporations
actually engaged in manufacturing, and to the appeal tax court of Balti-
more City, if such bank or other incorporated institution or joint stock
company shall own or possess any real property and tools, machinery,
manufacturing implements and engines of corporations actually en-
gaged in manufacturing in said city, a true .statement of such real
property, and tools, machinery, manufacturing implements and engines
of corporations actually engaged in manufacturing, situated or located
in such County or City and such real property and tools, machinery,
manufacturing implements and engines of corporations actually en-
gaged in manufacturing 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 Presi-
dent or other officer, who shall transmit one of such duplicate certifi-
cates with his return to the State Tax Commissioners, 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
assessment in the same manner as the same are levied upon and paid by
individual owners of real property and tools, machinery, manufactur-
ing implements and engines of corporations actually engaged in manu-
facturing in such County or City in accordance with the terms of
Section 164 of this Act as amended; 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
and tools, machinery, manufacturing implements and engines of cor-
porations actually engaged in manufacturing belonging to the said
respective banks, corporations or joint stock companies from the aggre-
gate value of all shares of such respective banks, corporations or joint
stock companies and divide the remainder by the number of shares of
the capital stock or shares of such respective banks, corporations or

*This section was repealed and re-enacted by the act of 1914, chapter 197
(approved April 3, 1914), but since chapter 528 was approved later (April 13,
1914), the latter is codified.