840 REVENUE AND TAXES. [ART. 81

state in such return that said investments are owned by the Bank of
which he is such officer, and are not held by such bank as a- security
for any loan, or as a collateral for any payment or other purpose. All
deductions required to be made by the City Collector of Baltimore
City by the provisions of said last mentioned Act, shall be made in
accordance with said provisions. Nothing in this Section shall be con-
strued to relieve any corporation from the payment of any franchise
tax required to be paid by the provisions of Section 89 of this Article:
provided, that nothing herein shall affect the tax levy for 1914.

1904, art. 81, sec. 361. 1888, art. 81, sec. 143. 1882, ch. 342. 1914, ch. 528.

164. The President, or other proper officers of every corporation,
actually engaged in the business of manufacturing in the City of
Baltimore, or in any- County where the tools and machinery of manu-
facturers have been exempted from County taxation, in addition to
the return provided to be made by the preceding Section, shall furnish
to the appeal tax court of Baltimore City, or to the County Commis-
sioners of each such County, a true statement of the mechanical tools,
whether worked by hand or by steam, or other motive power, and of
any machinery, manufacturing apparatus, or engines owned by such
corporation and actually employed and used in the business of manu-
facturing in said City or County; and the property so returned shall
be valued and assessed by said appeal tax court, or by the County
Commissioners; and the said appeal tax court or County Commissioners
shall give duplicate certificates of such valuation to such President,
or other officer, who shall transmit one of such certificates, with his
return, to the State Tax Commissioner; and the State Tax Commis-
sioner, in addition to the valuation which he is required to make for
State taxation, shall make a further valuation of the stock of said
corporation, by deducting from the value of each share as assessed for
State taxation, the proportionate amount of the value of tools and
machinery, as assessed by the said appeal tax court or County Com-
missioners ; and the valuation of the shares thus determined shall be
that all shares taxable in the City of Baltimore for city taxes, if the
said corporation is located in Baltimore City, or for the County taxes
if the County wherein the corporation is located has exempted manu-
facturer's tools and machinery from taxation; provided further, that
the County Commissioners of any County shall by resolution determine
by a vote of its members whether there shall be in their respective
County the exemption of the tools, machinery, manufacturing imple-
ments and engines of corporations, firms, and individuals actually en-
gaged in manufacturing, and duly certified to the State Tax Commis-
sioner of Maryland; and the Mayor and City Council of Baltimore
shall by ordinance determine whether the tools., machinery, manufac-
turing implements and engines of corporations, firms and individuals
actually engaged in manufacturing within the City of Baltimore shall
be exempt from taxation; and wherever no determination has been